Chicago Close: Corn, Soys Up on First Trading Day of 2025

Jan 03, 2025

Corn and wheat futures closed slightly higher on the first day of trading in the New Year on Thursday, while wheat was lower.

Soybeans traded to both sides of unchanged during the day amid light volumes, with most of the support coming from drier weather in Argentina. Much of Argentina is expected to be mainly dry over the next couple of weeks, with crop stress rising as soil moisture declines. Areas of southern Brazil are drying down as well. March soybeans were up 1 ½ cents at $10.12, and new-crop November gained 2 ¾ cents to $10.28.

There was little fresh news and light volume to move the corn market, which also traded to both sides of unchanged during the day. The developing dryness in Argentina and southern Brazil offered support to corn. March gained a penny to $4.59 ½, and December 2025 was up 2 ¾ cents at $4.46 ½.

Wheat was undermined by chart selling and strength in the American dollar, especially as the currency of Russia – the world’s top wheat exporter – weakens, making American supplies even more uncompetitive in the international market. March Chicago wheat fell 5 ¾ cents to $5.45 ¾, March Kansas City was down 7 ½ cents at $5.51 ¾, and March Minneapolis dropped 6 ¼ cents to $5.89 ½.

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Video: Independent Seed, National Impact | On The Brink: Episode 9

A survey of 200 independent seed businesses reveals what Canada's seed sector actually contributes — and what it stands to lose.

On the Brink, Justin Funk, a third-generation agri-marketer, shares the findings of a national survey conducted in early 2026. The numbers reframe the conversation: independent seed companies in Canada represent upwards of $1.7 billion in dedicated seed infrastructure, approximately 3,000 full-time equivalent jobs in rural communities, and an estimated $20 million in annual community contributions. And roughly 90% of Canada's cereals, pulses, and other small pollinated crops flow through them.

The survey also asked how dependent these businesses are on public plant breeding to survive. The answer was unambiguous. For policymakers evaluating the future of publicly funded breeding programs, Funk argues the economic case for this sector and the case for public plant breeding are the same argument.

On the Brink is a cross-country video series exploring the future of plant breeding in Canada. Each episode features voices from across the industry in an open, ongoing conversation about innovation and long-term investment in Canadian agriculture.