December 17, 2025

Mid-Co Morning Comments:
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• Good morning.  Grain prices are mixed again with another night of small ranges.  Chicago wheat saw new contract lows yesterday on rumors that China was thinking about cancelling out of SRW contracts.  Those lows are being tested again this morning.  Soybeans filled the gap from late October.  March corn still holding along the 100-day moving average.  The weekly ethanol report is out this morning.   The White House ordered a “total and complete blockade” of sanctioned oil tankers going into and out of Venezuela.   Crude oil futures are higher as a result.   President Trump will address the nation tonight at 8 p.m. central.   The exact topic is still iffy, but the markets will be watching in case monetary policy or trade is mentioned.  The CFTC has another funds update this afternoon.   We are getting closer.  The bean trade is still watching for daily flashes of the most recent rumored China purchase.  The warm-up across the Midwest has started and above normal temps are predicted out through the end of the month.  Precip chances exist tomorrow, but it will be mostly rain due to the highs being close to 50 degrees.  The trade will be interrupted by the holidays for the next two weeks.   Cattle on feed is Friday.   January options expire on the 26^th with first notice day for January beans the week following.  It looks like we will suffer through another quiet session.  Have a safe day.