Matt Bennett with AgMarket.Net says the agency shocked the market in the December WASDE by lowering ending stocks on corn 200 million bu. to 1.738 billion bu., with an increase in demand.

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Arlan Suderman, Chief Commodities Economist for Stone X, says corn and wheat ended higher on value buying after wheat hit contract lows last week. Soybeans continue to be under pressure with favorable weather in Brazil and basis levels below the U.S.

Brad Kooima, Kooima Kooima Varilek, says cattle are working in last week’s higher fed cash cattle trade. Grains are also mostly higher adding geopolitical risk premium and ahead of the WASDE.

The first full week of trading in December can be enlightening and Gulke Group president Jerry Gulke says this year is no exception, especially after the 2024 election. However, he thinks the bulk of the bearish news may be priced into the corn market.

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Bryan Doherty, Total Farm Marketing, says March corn sees a chart breakout Friday above $4.35 and posts a higher weekly close, pricing in strong demand and lower expected ending stocks in Tuesday’s WASDE.

Scott Varilek, Kooima Kooima Varilek, says cattle are trying to recover after a poor technical close yesterday with the help of strong cash. Corn broke above chart resistance and is being pushed by strong demand.

While it’s unclear how Congress will push through the Farm Assistance and Revenue Mitigation Act, it’s likely going to be via the Continuing Resolution. Depending on how payments are calculated, farmers could receive $101 per acre for corn, $53 for soybeans and $73 for wheat.

Dave Chatterton, Strategic Farm Marketing, says the agricultural markets saw risk off technical selling. The sentiment of the grain market in particular is bearish right now due to uncertainty tied to trade and overall policy in the new administration.