Group 1 - Corn futures are trading higher, with contracts increasing by 2 to 4.5 cents at midday, indicating strong demand driven by record ethanol production and exports [1] - The CmdtyView national average Cash Corn price has risen by 4.5 cents to $3.96 1/4 [1] - A private export sale of 177,055 MT of corn to Mexico was reported by the USDA [1] Group 2 - EIA data revealed a record ethanol corn grind for the week ending December 12, increasing by 26,000 barrels per day to 1.131 million bpd, while stocks decreased by 157,000 barrels to 22.353 million barrels [2] - Ethanol exports rose by 66,000 bpd to 191,000 bpd, and refiner inputs of ethanol increased by 55,000 barrels per day to 906,000 bpd [2] Group 3 - A South Korean importer purchased 268,000 MT of corn in a recent tender [3] - Brazil's December corn exports are estimated at 6.35 MMT, reflecting a slight increase of 0.05 MMT from the previous week [3] - Current corn prices for various contracts are as follows: Mar 26 at $4.41 (up 4.5 cents), Nearby Cash at $3.96 1/4 (up 4.5 cents), May 26 at $4.48 (up 3.5 cents), and Jul 26 at $4.53 3/4 (up 2.75 cents) [3]

Agricultural Impact - Pakistan's Punjab region, the country's largest producer, has experienced the destruction of thousands of acres of crops due to flash floods [1]

Core Viewpoint - FirstFarms A/S reported a pre-tax profit of 7 million DKK in the first half of 2025, despite challenges from a foot and mouth disease (FMD) outbreak affecting milk production and lower-than-expected prices in pig and crop production [1][9]. Financial Performance - The company's turnover decreased by 28 million DKK, with EBITDA down by 11 million DKK and EBIT down by 13 million DKK compared to the previous year [1][9]. - The pre-tax result was 12 million DKK lower than the same period last year [1]. Impact of Foot and Mouth Disease - The FMD outbreak in Slovakia led to the culling of 3,521 animals, significantly impacting operations and financial results [2][6]. - The construction of a dairy facility in Plavecky Stvrtok is temporarily on hold due to the FMD outbreak, with plans to resume in the second half of 2025 [2]. - The total positive impact on the value adjustment of pigs, cattle, and unharvested crops was 42 million DKK, while the negative impact from culling milking cows due to FMD was 35 million DKK, resulting in a net impact of 4 million DKK [4]. Future Expectations - The company expects to re-establish full milk production in Plavecky Stvrtok by Q4 2025, with a complete herd restoration anticipated by 2026 [7][8]. - Following the FMD outbreak, the company adjusted its expectations for the year's results downwards by 45 million DKK but later revised them upwards, anticipating subsidies of 40-55 million DKK [10][11]. Operational Developments - The company is focusing on the full re-establishment of milk production and aims to operate the rest of its production more efficiently and sustainably [11]. - Ongoing construction projects, including a silo expansion and irrigation system enhancement in Romania, continue despite the challenges faced [5].

Trade Relations - China imposed tariffs on Canadian rapeseed imports following an anti-dumping probe [1] - The tariff imposition disrupts crop flows between Canada and China [1] - This action escalates the trade dispute between China and Canada [1]

Crop Production - Area allocated to monsoon-sown rice crops surged 47% year-over-year [1] - Rice crop area reached 3.5 million hectares [1]