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Listen to the SF Daily podcast for today, January 1, 2026,
Grain futures declined yesterday as traders took profits ahead of the holiday weekend, while metals saw their strongest year since 1979. Dry conditions in Argentina, with no rain for two weeks, are a growing concern. Tensions escalated between China and Taiwan, and Russia and Ukraine continued to strike each other's export terminals. Live cattle futures strengthened, with spec traders holding a net long position of 94,868 contracts. USDA wholesale box beef prices dropped. The U.S. is expected to start January colder than normal, especially in the northern regions, influenced by La Niña.
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Listen to the SF Daily podcast for today, December 31, 2025,
Today is the final trading day of the year, with market action focused on year-end positioning. The January 12 WASDA report, which will include final old crop production numbers and quarterly grain stocks, is highly anticipated. Brazil's soybean harvest is off to a strong start, while Argentina faces drought conditions. The Iowa Department of Agriculture reported a new case of highly pathogenic avian influenza, impacting 15 birds, bringing the total affected to nearly 185 million since 2022. Live cattle prices are supported by tight numbers, but box beef prices are low. Arctic air is expected to surge, bringing snow showers across the Midwest and Northeast.
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Listen to the SF Daily podcast for today, December 30, 2025,
The commodity complex is seeing consolidation in grain markets due to profit-taking in precious metals. The soy complex is recovering, and Argentina's crop conditions are deteriorating. USDA export inspections for corn, soybeans, and wheat were lower compared to the previous week and last year. Live cattle futures were mixed, with cash cattle trade expected to remain steady. Feeder cattle futures showed mixed results. The National Weather Service forecasts tranquil weather with milder temperatures across much of the country, except for the eastern two-thirds.
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Listen to the SF Daily podcast for today, December 29, 2025,
Grain markets faced pressure with corn, soybeans, and wheat trading lower, influenced by lower metals and energy markets. Ethanol production surged to a two-year high, averaging 1.107 million barrels per day, with the Midwest leading the gains. Cattle futures may trade sideways due to limited cash activity. Snow and rain are expected in parts of Illinois and Wisconsin, with potential for slick areas and up to three inches of snow in northern Wisconsin. Listeners are encouraged to read more at agriculture.com and subscribe to the podcast.
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Listen to the SF Daily podcast for today, December 26,
Grain markets saw solid gains, led by soybeans, corn, and wheat, with corn posting five consecutive session gains. Red meat production dropped 7% year-over-year in November, with beef down 9%, pork down 4%, and calf slaughter down 42%. Cash markets showed mixed results, with corn and spring wheat basis strengthening. Winter weather advisories were issued for parts of Minnesota, Wisconsin, Michigan, and Indiana, potentially impacting travel and power outages.
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Listen to the SF Daily podcast for today, December 25,
Grain futures rose, supported by corn and soybeans, while wheat markets and the US Dollar Index increased slightly. Cattle markets were mixed, with tightening beef supplies driving support. Beef stocks were down 3.42% year-on-year to 425.5 million pounds. Managed money increased net long positions in live cattle. Wholesale beef prices fell. Warm air prevails, but a pattern change with colder temperatures is expected. Listeners are encouraged to read more at agriculture.com and subscribe to the podcast.
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Listen to the SF Daily podcast for today, December 24, 2025,
Commodity markets are experiencing the influence of outside markets, a weaker US dollar, and weather conditions in South America. Red meat and cold storage rose 1% monthly but declined year-over-year, with frozen meat supplies down. Cattle futures fell due to a lack of cash trade, while hog futures saw modest support ahead of the hogs and pigs report. The US hog inventory rose 1% year-over-year, with producers planning to increase sell firings. Weather forecasts predicted warm temperatures and dense fog across the central and southern US, with freezing drizzle in northern Wisconsin.
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Listen to the SF Daily podcast for today, December 23, 2025,
Commodity markets received a boost due to safe-haven buying, with gold surpassing $4,500 an ounce and soybean exports picking up. The USDA reported increased corn, soybean, and wheat inspections, with corn at 1.74 million metric tons and soybeans at 870,199 tons. The cattle market showed mixed reactions to the bullish cattle on feed report, with some chart gaps closing. Weather notes indicated potential winter storm impacts in northern Minnesota and Wisconsin, and record-breaking warmth in central Nebraska.
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Listen to the SF Daily podcast for today, December 22, 2025,
There is a decrease in bullish positions and an increase in short positions. The CFTC's weekly report showed net long positions in corn and soybeans, and net short positions in wheat. Livestock markets saw mixed results, with cash cattle trading at varied prices. The cattle on feed report showed lower placements, impacted by the Mexican border closure. Winter weather advisories were issued for parts of Minnesota and Wisconsin, with potential for snow and ice, while dry conditions in the southern plains raised fire concerns.
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Listen to the SF Daily podcast for today, December 19, 2025,
The US's flash sales and China's soybean purchase target, and increased corn and wheat imports despite a strong domestic crop. USDA data showed corn exports up 70% YoY, wheat exports up 23%, and soybean exports down 46%. China's November corn imports rose 87.5% YoY, and wheat imports surged 279%. Cattle futures dropped, with estimates for cattle on feed at 98.3%. Extremely dry conditions in western Nebraska and dangerously cold weather in North Dakota were also noted.
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