Year-end settling Wednesday with corn off 1/4 cent, 440 1/4 and wheat off 3 3/4 to 507.  March beans hit for 14 3/4 to 1047 1/2 while rice got a 9 1/2 cent recovery pop, 992 1/2.  Dow off 314 points from a lofty year end price to a still lofty 48,336.  Bonds off 7 tics, 115.19.  Have to say, this has been one of the lesser years of the almost 40 I have been in the industry, and I'm glad to put it behind me.  Here's to a great 2026.

Pretty subdued pressure from the margin and delivery clerks Tuesday in the grain room, corn off 1 3/4 cent, 440 1/2 and near the lows of recent trade while wheat is off 2 1/4 to 510 3/4.  In the Jan delivery grains, Beans off 3 1/4 to 1046 1/4 and rice slips 3 cents, 948.  We got  current in Rice deliveries and quite a few beans came out as well, all #1 to the river so that generally tells me a commercial didn't really want to deliver or lost an export trade to another commercial who would take it, have to pay the ups for #1 beans, but go to a barge that is probably sold as #2.  Dead financials day, Dow off 99 points in a nothing range, 48,650 and bonds slip 2 tics, 115.26.

Weaker Monday everywhere as we dress the markets for month end and yearend.  Corn down 7 3/4 to 442 1/4 and what off 6 cents, 513.  I think we are near the low end of both of these.  Beans off 9 1/4 to 1049 1/4 and rice spanked to 951, minus 27 1/2.  Funds bulling where they can.  Dow down 249 points, 48,749 and bonds pick up 11 tics, 115.28.

Day after Christmas gave part of the Christmas gains, beans off 4 1/2 cents, 1058 3/4 and wheat down 2 3/4 to 519.  Corn slips a penny, 450 and the short in rice pushed 13 lower, 978 1/23.  Bonds off 8 tics, 115.17 and the Dow gives up 31 points, 48,998.  Pretty nothing day. 

Day before Christmas had a helping hand from Santa as everything was higher.  Dow closed over 49K with a solid 267-point rally, 49,029 and bonds picked up 16 tics, 115.25.  Beans led the grain room higher, 1063 1/4, plus 11 3/4 while rice was up 10 1/2 cents as well, 991 1/2.  Corn up 3 1/2 to 451, and wheat looks to challenge that 525 area again soon, 521 3/4, plus 4 3/4.  

Tuesday trade in front of Christmas pretty dead with wheat gaining 1 1/2 cents, 517 and corn up 1/2 to 447 1/2.  I like these charts into the new year.  Beans slip 1 3/4 to 1051 1/2 and rice off 3 to 981 but inside ranges and nothing to sweat right now.  Dow up another 74 points in another dull churn day, 48,762 and bonds gain 5 tics, 115.09.  

Monday starts the Christmas week with bids, the Dow leading the way higher, 48,688 close, 223 points to the good.  Bonds did the grinch leak for 6 tics in a really dead trade, 115.04.  Wheat up 5 3/4 to 515 1/2 and corn up another 3 1/4 to 447.  Beans closed 4 better, 1053 1/4.  rice up 5 1/2 cents, 984.  Jan rice open interest down to 2400 with 1700 receipts, so most of that show is over before we even begin.  Don't really see any delivery fireworks in the soy complex either. 

Beans leaked another 3 cents Friday, 1049 1/4.  After Tuesday blip down the hits have been softer and I'm not sure if this is a lulled to sleep break or just a sucker trade.  Holidays make for some pretty goofy spikes.  Corn off 3/4 to 443 3/4 so mostly holding the recent bounce while wheat picks up a couple cents, 509 3/4 and hopefully laying a base.  Rice up another 21 to 978 1/2.  Still a 9 handle so I won't get excited yet, but shorts have to wonder how much the downward push has left when we can bounce this much.  Dow churn close 144 points higher, 48,465 and bonds leak 13 tics, 115.10.

Thursday trade mostly Tepid firm with corn showing best, 444 1/2, plus 4, wheat up 1 1/2 cents, 507 3/4. and beans showing its age, 1052 1/4, off 6.  I would not fade a weak bean settle on Friday.  Rice puts up contract lows early and has a key reversal higher, 957 1/2, plus 19 1/2, over 30 cents off the lows.  These rallies on the long break so far have not had a second day of buying, so Friday action is pretty important.    Note to all farmers, make sure you have your certified acres in, I believe they are due by the end of the day, 12/19.  Switching to March on the Dow, 48,321, plus 81 points in a churn trade and bonds up 15 tics, 115.23.  Softer inflation numbers the story but really, we just trade to the low of the range and market rejected it. 

Hump day trade perks a bit of interest as oats trade a new low Tuesday but rally 9 back on Wednesday.  Corn fully recovers Tuesday drop and closes 4 better, 440 1/2 on rumored China buying, and China definitely had some harvest weather issues.  More China bean flashes and I'm guessing China has about used up its early futures purchases so vs cash may not be the way forward much more.  Beans off 4 1/2 cents, 1058 1/4 but I would call that still holding support, even with meal back below $300, which should help crush.  China did cancel some wheat sales, 506 1/4, minus 3 1/4 and new lows and rice still being battered, although now the cash market is finally seeing bids, 938, off another 11 1/2.  You really need to look at being out of Jan and doing your hedges in March from here on, rice and beans.  Dow off another 223 points in standard give back churn and bonds slip 4 tics, 115.08.