12/26/25 Post Christmas Lull

Post-Christmas Lull   On The Grains: I hope everyone was fortunate enough to enjoy some family, food, and fellowship over the Christmas holiday. It feels like an odd welcome back with the weekend here already. Trade today was light, as expected, and most of the price discovery was done early on in all of the agricultural markets. Corn made a spike up at the open and then fell pretty dramatically before a modest close with the early 2026 contracts closing lower and the deferred contracts only slightly higher. Corn did make a push higher towards some recent highs in the days leading up to Christmas. Having also closed above the 200-day moving average for the last four sessions, next week will tell whether corn is setting up for a rally or whether this week was just thanks to St Nick. Soybeans were also enthusiastic at the open, gapping higher before giving back half of their gains from two days ago. After rebounding just shy of a continuation gap fill, this close will leave more questions around whether they are poised to make a rally. They are still very oversold but only 10 cents above their recent lows. Wheat was mixed…