Morning Highlights


  • Grain futures will close at 12:05pm CT tomorrow, December 24th, and will not re-open until 8:30am CT on Thursday, December 26th.
  • January grain options expire this Friday, December 27th.
  • Sign up for the Hedging Academy training class on January 9th by CHS Hedging is still available.  See our website for more information: CHS Hedging .
  • Outside markets as of 7:00am CT: Dollar up 67 at 97.757, Crude Oil up $.02 at $60.46, Dow up 61 at 28543 and Gold up $4.40 at $1485.30. 


  • Friday’s Cattle On Feed report estimated November placements up 5% over last year, well above the .9% average guess.  This could cause some analysts to revise their feed usage numbers higher.
  • South Korea’s NOFI has tendered for two cargoes of corn for April 15th shipment.
  • EPA announced an interim decision to continue to allow the use of Atrazine for weed control in corn and sorghum. 

Outlook:  Consolidation continues in light holiday trade.  Steady to 1 higher.



  • China’s president Xi said on Friday that the Phase One deal is beneficial for both our countries and they will work together to sign the deal as soon as possible.   China’s Ministry of Finance released a list of 859 products that will have their tariffs reduced January 1st for WTO members, including frozen pork.
  • First Notice for Delivery of January contracts is Tuesday, December 31st. 

Outlook: Buying support underneath prices to start the week with positive trade news from China.  2- 3 higher. 


  • Ukraine has exported over 34% more grain and legumes than last year at this time, totaling 28.38mmt for the current marketing year, including 14.3mmt of wheat and 10.1mmt of corn.
  • Argentina’s wheat harvest is reported as 77% complete.
  • Dryness concerns continue for southern U.S. Plains, Australia and Argentina. 

Outlook: Extremely light holiday volume to start the day.  Steady to 2 higher.