Core Insights - Corn futures are experiencing gains, with prices increasing by 1 to 2 cents, and the national average cash corn price rising to $4.08 ½ [1] - Total export sales commitments for corn have reached 50.538 million metric tons (MMT), which is 30% larger than the same period last year and represents 62% of the USDA's estimate for the full marketing year, exceeding the average pace of 60% [1] Market Position - Managed money has shifted to a net short position of 23,584 contracts in corn futures and options as of December 30, indicating a move to the short side of 26,343 contracts [2] - Current corn prices for various futures contracts are as follows: Mar 26 at $4.46 1/4, May 26 at $4.54, and Jul 26 at $4.60, all showing slight increases [2]

Group 1 - Wheat futures showed mixed performance, with Chicago SRW futures gaining 1 to 2 cents while KC HRW futures experienced losses of 1 to 2 cents [1] - The KC wheat market was noted as the weakest, with March futures down 2 ¾ cents last week, while MPLS spring wheat saw an increase of 5 to 6 cents [1] - Open interest in wheat futures increased by 11,648 contracts, indicating slight new buying activity [1] Group 2 - Export Sales data for the week ending December 4 is anticipated, with analysts predicting wheat sales between 300,000 to 600,000 MT [2] - A CFTC update revealed that spec traders in CBT wheat futures added 2,228 contracts to their net short position, totaling 46,069 contracts as of December 19 [3] - Algeria has issued a tender for 50,000 MT of durum wheat, while Argentina's wheat crop estimate has been revised to 27.1 MMT, an increase of 1.6 MMT from previous estimates [3] Group 3 - Closing prices for various wheat futures on March 26 showed slight increases for CBOT and MGEX wheat, while KCBT wheat experienced minor declines [4] - Specific closing prices included CBOT Wheat at $5.09 3/4, KCBT Wheat at $5.15 1/4, and MGEX Wheat at $5.78, with respective changes noted [4]

Group 1 - Cotton futures increased by 10 to 16 points at the close on Monday [1] - Crude oil futures decreased by 79 cents per barrel, settling at $56.65 [1] - The US dollar index fell by $0.093 to $98.300 [1] Group 2 - CFTC data revealed that spec funds raised their net short position by 3,756 contracts, totaling 61,999 contracts as of November 25 [1] - Export Sales data indicated cotton sales of 148,396 RB for the week ending November 20, marking a 3-week low, while shipments rose to 120,825 RB [2] Group 3 - An online auction from The Seam reported sales of 8,516 bales at an average price of 59.57 cents/lb [3] - The Cotlook A Index decreased by 25 points to 73.95 cents on December 12 [3] - ICE certified cotton stocks remained steady at 13,971 bales as of December 11 [3] - The Adjusted World Price was updated to 50.39 cents/lb, down 89 points from the previous week [3] Group 4 - March 26 Cotton closed at 63.94, up 11 points; May 26 Cotton closed at 65.06, up 15 points; July 26 Cotton closed at 66.1, up 16 points [3]

Market Overview - Soybeans are experiencing losses of 8 to 11 cents, with the national average cash bean price at $10.24, down 10.5 cents [1] - Soymeal futures are down by 50 cents to $1, while soy oil futures are lower by 45 to 50 points [1] Export Data - The Export Inspections report indicates that 1.018 MMT (37.41 million bushels) of soybeans were shipped in the week of December 4, which is 41.4% lower than the same week last year but 10.6% higher than the previous week [2] - Mexico was the largest buyer, importing 132,050 MT, followed by China with 119,895 MT and Indonesia with 91,171 MT [2] - The total marketing year shipments now stand at 12.9 MMT (473.98 million bushels), reflecting a 45.2% decrease compared to the same period last year [2] Sales and Bookings - USDA Export Sales data for the week ending November 6 showed soybean bookings at 510,554 MT, which is below estimates of 0.45-1.6 MMT and represents a marketing year low [3] - Soybean meal sales were recorded at 93,483 MT, also on the low side of estimates, while bean oil sales were at 12,549 MT, meeting expectations [3] Market Positioning - CFTC Commitment of Trade data from the week of October 28 revealed that managed money increased their net long position by 83,160 contracts to 118,489 contracts, coinciding with the Trump/Xi meeting [4] - Commercials increased their net short position by 96,154 contracts to 245,133 contracts, marking the largest net short since May 2022 [4] Future Projections - The WASDE report is expected to update on Tuesday, with traders anticipating US soybean ending stocks to rise to 306 million bushels, an increase of 16 million bushels from the previous month [5] - China imported 8.11 MMT of soybeans in November, reflecting a 14.5% decrease from October [5] - The Brazilian soybean crop is reported to be 94% planted, slightly behind last year's pace of 95% [5]