Global Ag News For Dec 22.2025

TOP HEADLINES

Drones Hit Piers and Ships at Russia’s Taman Black Sea Port

Russia said a drone attack damaged infrastructure and vessels in the Black Sea port of Taman, yet another strike on the country’s commodities assets.

The assault struck two tankers and two piers at the Volna settlement where the port is located, local authorities said in a statement on Telegram. They also added that one connecting pipeline at the terminal and two storage tanks were also damaged.

The emergency services doused the flames on the piers and tanker and are continuing to battle the fire on the fuel oil supply pipeline, with the fire spread over about 1,500 square meters (16,100 square feet), authorities said.

There was no oil spill or injuries, the Telegram statement added.

Ukraine has been stepping up attacks on Russian assets at sea, including tankers and oil-field platforms. Moscow and Kyiv are fighting an increasingly intense energy war to gain meaningful advantage after months of little movement on the frontlines, and amid continuing peace talks.

Taman port is located on a peninsula, across the strait from Crimea, that Russia annexed from Ukraine in 2014. The port handles oil, liquefied petroleum gas, grains, fertilizers and other cargo.

On Saturday, Ukraine again attacked a Lukoil PJSC drilling platform on the Filanovsky field in the Caspian Sea, according to the country’s General Staff. On Friday, Kyiv hit an oil tanker from Russia’s shadow fleet in the Mediterranean Sea. Russia has also struck the southern Ukrainian port city of Odesa multiple times over the past few days. The most recent attack left 120,000 people without power supply, according to Ukrainian authorities.

 

 

FUTURES & WEATHER

Wheat prices overnight are up 5 1/2 in SRW, up 4 1/4 in HRW, down 0 in HRS; Corn is up 2 1/2; Soybeans up 4 3/4; Soymeal up $1.30; Soyoil up 0.26.

Markets finished last week with wheat prices down 5 1/2 in SRW, up 7 1/2 in HRW, up 0 in HRS; Corn is up 6 1/2; Soybeans down 17; Soymeal down $4.20; Soyoil down 1.31.

For the month to date wheat prices are down 23 1/4 in SRW, down 8 in HRW, down 0 in HRS; Corn is down 1 1/2; Soybeans down 81 3/4; Soymeal down $21.80; Soyoil down 3.85.

Year-To-Date nearby futures are down 6.6% in SRW, down 7.1% in HRW, down 3.1% in HRS; Corn is down 2.7%; Soybeans up 5.6%; Soymeal down 2.8%; Soyoil up 21.1%.

Chinese Ag futures (MAR 26) Soybeans up 34 yuan; Soymeal up 4; Soyoil up 6; Palm oil down 4; Corn up 8 — Malaysian Palm is up 80.

Malaysian palm oil prices overnight were up 80 ringgit (+2.05%) at 3985.

There were no changes in registrations. Registration total: 34 SRW Wheat contracts; 120 Oats; 9 Corn; 1,130 Soybeans; 810 Soyoil; 184 Soymeal; 23 HRW Wheat.

Preliminary changes in futures Open Interest as of December 19 were: SRW Wheat up 11,648 contracts, HRW Wheat up 638, Corn down 3,096, Soybeans down 7,435, Soymeal down 3,834, Soyoil up 4,819.

 

DAILY WEATHER HEADLINES: 22 DECEMBER 2025

• NORTH AMERICA: Abnormal warmth will spread over the US Plains this week, with temperatures 8-12 °C above normal and snow cover retreating from the northern states
• SOUTH AMERICA: Heavy rains will impact northern Pampas and far southern Brazil over the next 10 days, posing the risk of local flooding
• EUROPE: Cold and dry conditions will dominate across most of Europe until early January
• BLACK SEA: Severe cold lingering over Continental Russia may locally affect winter wheat regions of Volga and Central Districts
• TELECONNECTIONS: A strong negative North Atlantic Oscillation (NAO) phase will support cold conditions in Europe/Eurasia and Western Canada over the next 10 days

 

LATE DECEMBER RAINS WILL BENEFIT BRAZIL CORN/SOYBEAN AREAS, WHILE COFFEE/SUGAR REGIONS WILL MISS OUT

What to Watch:

• The Argentina Pampas will remain dry into the foreseeable future in an outlook that will increasingly stress corn/soybeans, while conditions will be better to the north
• Well-placed Brazil rains will benefit Brazil corn/soybeans in the next couple weeks, while the coffee/sugarcane areas will stay dry
• Cool and wet weather is in store for Paraguay over the next 1-2 weeks in a positive outlook for corn/soybeans

 

Northern Plains: Temperatures were mixed over the weekend as a front settled in. Temperatures will be very warm this week, though cold air in Canada may leak into the area after Christmas for a couple of days. A few systems will move through over the next week, but with very limited precipitation.

Central/Southern Plains: Warmer air is spreading into the region and will be record warm a few days this week. The warmer air will stick around for the end of the year. Very little precipitation is in the forecast, with soil moisture falling for winter wheat areas. Warmer air should awaken some wheat as well, which would reduce winter hardiness for when cold air inevitably returns in January.

Midwest: Warmer air will flood the region for Christmas, melting what is left of the snowpack in most areas. A system will move through on Christmas Day, which will bring some showers, mostly as rain. Another system will move through this weekend with more potential showers and a brief burst of some colder air with rain changing to snow.

Delta: A few showers moved through on Sunday, but most areas were warm and dry. The warmth has melted snow across the Midwest, which will give a very limited boost to water levels on the Mississippi River, but will not be able to get it above concerning levels. An overall dry forecast through the end of the year and into January is also concerning for river transportation.

Brazil: A front is moving into the south on Sunday and may be stuck there for most of the week, producing more widespread and largely beneficial rainfall. Scattered showers continue over much of central Brazil this week, boosting soil moisture for soybeans that continue to move into the pod-fill stage. Overall conditions continue to be either favorable or improving.

Argentina: A front moved through this weekend with widespread rainfall, but some limited amounts across the south. That front should stall across the far north for most of the week. Another front will move through the country this weekend with scattered showers. Despite a drier stretch of weather recently, soil moisture is still largely favorable across most of the country, favorable for developing corn and soybeans.

Europe: A system moved back into the southwest over the weekend and will bring showers through the Mediterranean through most of the week, being favorable for vegetative winter wheat across the south. Soil moisture is favorable across much of the rest of Europe for dormant winter wheat.

Black Sea: Dryness is still an issue for winter wheat that went into dormancy in mixed condition. It continues dry for most of the week, with showers coming back in after Christmas Day. Overall, conditions are unfavorable for winter wheat. With how warm it has been, winter hardiness may not be sufficient to survive the burst of cold as much of the region is snow-free.

Australia: Soil moisture is still mixed around the country’s wheat belt. Scattered showers moved through eastern areas this weekend and continue in the northeast for the next few days. But the rest of the country is forecast to dry out a bit to end the calendar year. Wheat and canola continue to be harvested and will find mostly favorable conditions. Meanwhile, cotton and sorghum planting is well advanced and will need to see this rain come to fruition.

China: Winter wheat and canola are in dormancy in largely good condition. Southern areas are still in a much drier trend and in need of more rainfall. Very little is forecast through the end of the month.

 

The player sheet for 12/19 had funds: net sellers of 1,000 corn, sellers of 500 soybeans, sellers of 2,500 soymeal, and sellers of 1,000 soyoil.

TENDERS

• SOYBEAN SALE: The U.S. Department of Agriculture confirmed private sales of 134,000 metric tons of U.S. soybeans for shipment to China in the 2025/26 marketing year.
• MILLING WHEAT SALE: A South Korean flour mill group bought an estimated 50,000 metric tons of milling wheat earlier this week to be sourced from the United States, European traders said on Friday.
• MILLING WHEAT SALE: A group of South Korean flour mills bought an estimated 9,200 metric tons of milling wheat to be sourced from Canada earlier this week, European traders said on Friday.
• FEED WHEAT SALE: A group of animal feed importers in Thailand is believed to have purchased around 65,000 metric tons of animal feed wheat in a private deal this week without issuing an international tender, European traders said on Friday.
• FEED WHEAT PURCHASE: South Korea’s Major Feedmill Group (MFG) purchased 65,000 metric tons of animal feed wheat in private deal on Friday without issuing an international tender

PENDING TENDERS

• WHEAT TENDER: Algeria’s state grains agency OAIC has issued an international tender to purchase a nominal 50,000 metric tons of durum wheat, European traders said on Monday.
• MILLING WHEAT TENDER: Jordan’s state grain buyer has issued an international tender to buy up to 120,000 metric tons of milling wheat which can be sourced from optional origins, European traders said. The deadline for the submission of price offers in the tender is December 23.
• RICE TENDER: Iranian firm Jahad Sabz Company has issued a tender to purchase 10,000 metric tons of rice sourced from Pakistan, a copy of the tender sent to European traders on Thursday said. The deadline for submission of price offers in the tender is December 30.

 

 

 

 

TODAY

US Cattle on Feed Placements Fell to 1.6M Head in Nov.

Placements onto feedlots of capacity of 1,000 or more fell 11.2% from a year ago, according to the USDA’s monthly report.

• Analysts were expecting a drop of 8.2%
• The US feedlot herd as of Dec. 1 were down 2.1% y/y to 11.727m head
• Cattle marketed from feedlots declined 11.8% to 1.521m head

 

LIVESTOCK SURVEY: US Dec. 1 Hog Herd Seen at 74.36M Head

Dec. 1 hog inventory seen falling by 1% y/y, according to the avg in a Bloomberg survey of seven analysts.

• Breeding inventory seen down 1.2% y/y, and market hogs seen falling 0.9% y/y
• The Sept-Nov pig crop seen falling by 1.3% y/y to 34.43m head
• Sept-Nov farrowing seen falling by 2.1% y/y

 

USDA Reschedules Dec. 26 Export Sales Report to Dec. 23

The USDA rescheduled its weekly export sales report due on Dec. 26 to Dec. 23 as the agency will be closed for the federal holiday.

• Dec. 29 export sales report is rescheduled to Dec. 31
• Jan. 2 report rescheduled to Jan. 5,
• President Trump earlier announced a federal holiday for Dec. 24 and Dec. 26

 

US CROP EXPORTS: 134,000 Tons of Soybeans to China

The US Department of Agriculture on Friday announces export sales activity on its website:

• The sale is for the 2025-26 marketing year
  • This brings total announced sales of soybeans to China to 3.8m tons since October

 

Brazil 2025/26 Corn Output Seen at 142.88m T: Safras

Total corn output estimate dropped to 142.88 million metric tons from 143.56 million tons previously, according to an emailed report from consulting firm Safras & Mercado.

• Total area estimate raised to 21.85 million ha, which compares to prior estimate of 21.7 million ha
• Average yield seen at 6,496 kg/ha, below the 6,570 kg/ha seen in prior estimate and below the 6,543 kg/ha seen in the previous season
• Summer corn production is expected to total 25.4 million metric tones, higher than the previous year’s 24.73 million metric tons

 

China imports no US soybeans for third month; Argentine arrivals up 634%

China imported no soybeans from the United States for a third straight month in November, as buyers turned to South American supplies amid fears of a shortfall if the trade war with Washington dragged on.

Following a trade truce in late October, China has stepped up purchases of U.S. cargoes, with traders saying that more than 7 million metric tons have been purchased since then.

In late November, Reuters reported, citing a shipping schedule, that two cargo vessels would carry the first U.S. soybean shipments to China since May.

As these cargoes have not yet arrived, they do not appear on the customs website.

 

Indonesia Nov. Palm Oil Exports Fall 13.4% M/m: Intertek

By Eko Listiyorini and Bloomberg Automation

Indonesia’s palm oil exports fell 13.4% m/m in November, according to Intertek Testing Services.

• Palm oil exports fell to 1.748m tons from 2.018m tons in October
• Crude palm oil shipments fell to 31,800 tons from 101,940 tons in October
• RBD palm olein shipments fell to 813,155 tons from 843,175 tons in October
• RBD palm oil shipments fell to 363,796 tons from 403,892 tons in October
• Palm oil sales to European Union fell to 254,164 tons from 306,392 tons in October
• Palm oil sales to India fell to 390,642 tons from 479,610 tons in October
• Palm oil sales to China rose to 423,239 tons from 403,943 tons in October

 

Germany Winter-Wheat Sowing for 2026 About Steady Y/y: Destatis

German farmers sowed winter-wheat on 2.9m hectares for the 2026 harvest, up about 0.3% y/y, according to a statement from federal statistics office Destatis.

• Meanwhile, the winter-barley area rose about 4.9% to 1.3m hectares
• Winter-grain plantings in total reached 5m hectares, up about 1.3%
• Winter rapeseed was sown on 1.1m hectares, up about 4.9%

 

India Didn’t Give Rice, Wheat, Dairy Access Under NZ Trade Pact

India protected its interest in rice, wheat, dairy, soy and various other farm products that have not been opened up for any access under the trade pact with New Zealand, Commerce Minister Piyush Goyal said at a news conference in New Delhi Monday.

• The nation is never going to open up its dairy sector under trade pacts, Goyal said

 

CORN/CEPEA: Pace of purchases continues slow; players focus on crops

Cepea, 19 – Corn prices continue to move down in some areas surveyed by Cepea, due to the demand decrease, as it is typical in this period of the year. Many consumers indicate that they resume operating in January.

Players are focused on summer crop activities for both corn and soybean. After a dry period, the return of rainfall has brought some relief for farmers, since it favored the development of summer crops.

The ESALQ/BM&FBovespa Index for corn prices averaged BRL 69.27 per 60-kg bag on December 18, downing 0.5% compared to that registered on Dec. 11. On the average of the regions surveyed by Cepea, in the same comparison, corn values increased 0.5% in the wholesale market (deals between processors) and 0.4% in the over-the-counter market (paid to farmers).

 

SOYBEAN/CEPEA: Soybean meal premium and prices are the highest in 8 months

Soybean meal quotations are finishing this year in an upward trend – it is worth noting that prices accumulated drops this year. Thus, both values in Brazil and export premiums have returned to levels that are similar to those verified in the first four months of 2025.

Price increases are related to the need of restocking of chicken and swine farmers. Moreover, the current low supply of soybean meal in the spot market in Brazil also influences quotations.

In this scenario, trading companies have started to accept higher premiums at the porto f Paranaguá (PR). As for domestic prices, on the average of the regions surveyed by Cepea, soybean meal values upped 1.3% from Dec. 11-18.

It is important to mention that soybean meal price rises have been partially limited by the lower export tax in Argentina, leading products from this country to be more competitive in the international market.

The Brazilian value of soy oil dropped 1.3% from December 11-18, to BRL 6,542.44 per ton (in São Paulo city with 12% ICMS) on Dec. 18.

 

Indonesia signs free trade deal with Russian-led Eurasian Economic Union

Indonesia and the Russia-led Eurasian Economic Union have signed a free trade agreement aimed at increasing two-way trade, Indonesia’s trade ministry said on Monday.

The signing of the FTA took place in St. Petersburg, Russia, over the weekend, witnessed by Russian President Vladimir Putin, and leaders of other countries within the EAEU, which comprises Armenia, Belarus, Kazakhstan, Kyrgyzstan and Russia. Indonesia was represented by Trade Minister Budi Santoso.

Under the agreement, reached after two years of negotiations, the union will grant Indonesia preferential rates for 90.5% of its total tariff lines, which gives Southeast Asia’s biggest economy access to the bloc’s 180 million people, the Indonesian ministry said.

The ministry did not provide details about the trade concessions made by Jakarta as part of the agreement. Indonesia has a population of 280 million people.

“Indonesia’s leading products will gain broader and more competitive market access,” minister Budi said in a statement.

“This will drive increased exports of palm oil and its derivatives, footwear, textiles, fisheries, rubber, furniture and electronics,” he said.

The statement quoted Chairman of the Board of the EAEU Bakytzhan Sagintayev as saying that the FTA could double two-way trade between the bloc and Indonesia.

Between January to October this year, total trade between Indonesia and the union stood at $4.4 billion, with Indonesian exports at $1.76 billion and imports from the bloc amounting to $2.64 billion, according to the trade ministry.

Indonesia’s top export products to the EAEU are palm oil, coconut oil, coffee and cocoa, while the union’s main exports are coal, potassium fertiliser, wheat and ferro-alloys.

 

India Regulator SEBI Reviews Rules on Agri Commodity Derivatives

India’s capital market regulator is reviewing regulations for margins, position limits and settlement linked to agriculture commodity derivatives, its chairman Tuhin Kanta Pandey said Saturday.

• Expert groups have been set up to look into these issues: Pandey
• A working group to review non-agricultural commodity derivatives would be notified soon
• Securities and Exchange Board of India is engaged with banking and insurance regulators to enable participation of banks and insurance companies in commodity derivatives market: Pandey
• “Enhanced institutional participation will bring in higher liquidity, making the market more attractive for hedging,” Pandey said
• SEBI is in talks with the government to resolve issues related to goods and services tax for those looking to receive or deliver commodities through the exchanges
• Regulator also looking to have a single investor protection fund for all products such as equity, bonds and commodity

 

US Egg Production Fell 2.7% in November From Year Ago: USDA

The US produced 8.69b eggs in November vs 8.93b in the same period a year ago, according to a report from the USDA.

• Output of table eggs fell 3.3% y/y to 7.44b
• Hatching eggs up 0.9% to 1.25b

 

Japan to import Spanish pork processed before swine fever outbreak

Japan has accepted importing pork from within the containment zone near Spain’s Barcelona that has been processed and refrigerated before the outbreak of African swine fever in the area, the head of Catalonia’s regional agriculture department told reporters on Friday.

 

Grassi Clears Hurdle to Take Over Distressed Argentina Soy Giant

Grassi SA, one of Argentina’s top grain brokerages, cleared what could be the last hurdle to take over distressed exporter Vicentin SAIC, whose assets include a significant stake in the world’s biggest soybean crushing plant.

Judge Fabian Lorenzini dismissed objections led by a Louis Dreyfus Co. venture against the deal that Grassi struck with a majority of creditors holding $1.3 billion of defaulted debt from Vicentin. If finalized, the restructuring could mark the end of a six-year bankruptcy case that upended Argentina’s multibillion-dollar soy industry.

The deal was made in a “cramdown” phase of the Chapter 11-style bankruptcy protection, where outside bidders could compete — by all accounts the first such bidding process in Argentine corporate history.

Rosario-based brokerage Grassi — led by Chief Executive Officer Mariano Grassi, whose father Hugo helped build the firm and heads the board — has a matter of days to come up with a timeline to execute the restructuring, the judge said in a resolution on Thursday night. It is also taking steps to start re-organizing Vicentin, which has managed to stay afloat through the Chapter 11 thanks to tolling arrangements at its plants.

To be sure, Louis Dreyfus and local partner Molinos Agro SA, which competed as a joint venture in the cramdown, still have the right to appeal Judge Lorenzini’s ruling to dismiss their objections, which could extend the legal battle.

Vicentin was run by a family dynasty that faced the might of global commodity trading houses to become Argentina’s top exporter of soy meal and vegetable oil. That all unraveled in 2019 as it left itself exposed to one of the country’s notorious currency runs.

In a statement, Grassi said it would immediately be transferred Vicentin’s shares, adding: “We take on this challenge with deep conviction, great enthusiasm, and complete confidence in our experience, in the capabilities of our people, and in all the valuable human resources that Vicentin still retains today.”

Grassi has held talks to bring in Cargill Inc. and Bunge Global SA as partners to help manage international trading operations. Bunge’s role would be focused on the Timbues soy processing plant, the biggest in the world, where it has a 67% stake. Vicentin owns the other 33%.

“We are already working with our commercial partners to ensure trading channels and financing,” Grassi said in the statement.

 

FDA Detects PFAS in a Few Samples of Beef, Chicken, Other Foods

The Food and Drug Administration detected “forever chemicals” in a few samples of meat, milk, seafood, and kale, but the PFAS weren’t found in more than 90% of the food tested.

The FDA released test results Friday from 542 food samples collected in 2024 from six parts of the US as part of its national Total Diet Study.

No per- and polyfluoroalkyl substances (PFAS) were detected in most food: 503 of 542 samples (92.8%), the agency said.

But 39 of 542 (7.2%) samples had trace amounts of at least one specific PFAS, it said. Foods with trace amounts included pepperoni, beef steak, ground beef, chicken breast, seafood, and kale.

And higher-than-trace concentrations levels of at least one PFAS were found in four samples of shrimp, clams, catfish, and tilapia, FDA said.

As a national sample, the results may not apply to food grown or livestock raised in communities where PFAS contamination is a problem.

Lawsuits Seeks Limits

From 2018 through 2021, for example, FDA tested milk and cheese collected from two farms with known PFAS contamination of groundwater.

“Based on the best available current science, the FDA had no indication that the levels of PFAS found in the limited sampling of milk from Farm B and cheese from Farm A presented a human health concern,” the agency said.

But “the milk samples from Farm A had levels of PFAS that could be a potential human health concern,” it said, adding the milk was discarded and didn’t enter the food supply.

The American Farm Bureau Federation did not immediately reply to a request for comment.

But the Environmental Working Group, which has focused attention for years on PFAS and associated health concerns, said in a statement that even low-level contamination poses serious health risks, particularly because the chemicals accumulate in the body over time.

The Tucson Environmental Justice Task Force is suing the FDA in the US District Court for the District of Arizona for failing to respond to the group’s citizen petition that asked the agency to set PFAS limits on foods.

“The FDA cannot afford to wait one more day to set action levels for PFAS in our food, as other nations have done,” Scott Faber, EWG’s senior vice president for government affairs, said in response to FDA’s latest national PFAS test results.

 

 

 

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