USDA Payments, Fund Repositioning Set Tone for Ag Markets to Open 2026

Overview

• USDA posted Farm Bridge Assistance rates, including cotton at $117.35 per acre, corn at $44.36, soybeans at $30.88, and wheat at $39.35.
• CFTC data show major positioning changes, with managed money flipping corn to a small net long after a 55,431‑contract swing and CBOT wheat still heavily net short at 91,665 contracts as of December 23.
• Corn futures are down 2 to 4 cents despite USDA confirming a 132,000 metric ton private sale to South Korea.
• Soybean futures are easing by about 2 to 3.5 cents in early trade, with 913 deliveries issued against January contracts.
• Cotton is lower by 25 to 45 points at midday, while live cattle are rallying $3.10 to $3.75 with northern cash at $232 and boxed beef prices higher.