December 3, 2025

Morning Comments:
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Good morning.  Grain prices are mixed.   Corn and wheat got a lift yesterday after Putin commented that he may cut off Ukraine from the sea, which would ultimately slow grain movement from that region.  The trade has softened its concern about those comments this morning.  The 5-hour meeting between the U.S. and Russia yesterday to help work on a peace deal failed to break through with any new momentum.  Funds were strong buyers of corn yesterday, which helped push March corn to within a nickel of the recent high.  There was a small uptick in producer selling of corn yesterday, but it was far from active.   Bean selling remains slow.   Sounds like there was a few more cargoes of U.S. beans sold to China within the last 24 hours.  The bean trade will once again be looking for flash announcements to confirm.  The weekly ethanol report will be out this morning.  Deliveries totaled 4 corn, 3 meal, and 128 bean oil.  The Ag Secretary did mention yesterday that bridge payments to producers would be announced next week.  Going to be a cold finish to the week with a few more flurries possible across Illinois today.  The cold will slow grain truck traffic a bit and should be watched in terms of ice along the river system.  There is some talk of more snow flurries to start next week but it is not that defined as of now.  The USDA report is next Tuesday.  Conab is out on the 11^th.  Have a nice day.