A little after 9 a.m. CT, March corn saw a modest increase of one cent, reaching $4.45¾ per bushel. Meanwhile, January soybeans experienced a decline, dropping nine cents to $10.96¼ per bushel.

On the wheat market, March CBOT wheat recorded a slight rise of two cents, landing at $5.37¾ per bushel. In contrast, March Kansas City wheat fell by 2¼ cents to $5.29 per bushel, while March Minneapolis wheat rose by 3¼ cents, reaching $5.76¼.

This morning, the USDA announced that China is set to purchase 132,000 metric tons of soybeans for the upcoming 2025/2026 marketing year.

Looking ahead, the USDA is expected to release its December World Agricultural Supply and Demand Estimates (WASDE) and Crop Production reports tomorrow. Compounding market volatility, the Federal Reserve’s Federal Open Market Committee (FOMC) meetings are scheduled for Tuesday and Wednesday this week. Al Kluis, managing director of Kluis Commodity Advisors, indicated, “This week is likely to be volatile. Not only are we watching the weather forecasts in South America, but we are also keenly observing what the USDA reports reveal on Tuesday and what the FOMC announces on Wednesday.” Kluis anticipated a 0.25% cut in interest rates by the FOMC.

Kluis highlighted, “The key market factor remains the weather in Brazil. With dry conditions persisting in southern Brazil, the trade is likely to further lower crop projections for corn and soybeans this week. Our main South American crop consultant, Dr. Michael Cordonner, believes we have already seen the peak for corn and soybean crop projections.”

Markets for feeder cattle showed positive movement shortly past 9 a.m. CT, with January feeder cattle rising by $1.78 to $337.28 per hundredweight (cwt). February live cattle also increased by 25¢ to $227.40 per cwt, while February lean hogs saw a slight uptick of 5¢ to $82.33 per cwt.

In energy markets, January crude oil prices dropped by 75¢, now priced at $59.33 per barrel.

The U.S. Dollar Index for December contracts is up to 99.09. In stock market activities, the S&P 500 Index declined by 4.69 points and the Dow Jones Industrial Average fell by 80.31 points.