Thursday, December 11, 2025, 7:00 am

Wednesday was a mostly negative day for our markets.  Harvest corn closed down 3 3/4, spot soybeans closed up 4, spot winter wheat closed down 5 and spot spring wheat closed down 1.  In the overnight trade all of our markets have made it to the positive side.  Oil closed up $0.21 yesterday at $58.46 per barrel.  It is weaker in trading this morning with it now valued at $57.73 per barrel.  Our dollar had a low of $0.721 US yesterday before noon and has trended mostly higher since then.  This morning it is currently valued at $0.725 US.

The corn market was the only one on Tuesday that was supported with the WASDE report.  Remember they increased corn exports and decreased corn ending stocks.  This helped the market to rally on Tuesday but it was not enough to keep it positive yesterday.  The market seems to be range bound on the CBOT with it staying within about a 10 cents range.  It looks like it will take a very large announcement to drive the market either higher or lower.  This may not come until the January WASDE report.

Weather in South America has become very supportive for crop growth.  Parts of Brazil were dryer however they have received sufficient moisture this week with the weather forecast bringing much more precipitation which should help to replenish soil moisture.  For Argentina much the same is occurring with current rains and a wet forecast going forward.  Based on the above it is hard to see any weather backed rally in the near term for our crops.

The Bank of Canada held their benchmark interest steady yesterday at 2.5%.  At the same time the Federal Reserve in the US lowered their rate by 0.25% to a range of 3.50% to 3.75%.  In Canada the effect of the current tariffs from the US on our economy are still being felt and how they affect the economy could help to change interest rates going forward.  In the US inflation is still above targeted rates however they have decreased their rate.  This could possibly be partially due to the political pressure the US administration continues to bring looking for lower interest rates.