TFM Morning Update 01-15-2026

The CME and Total Farm Marketing offices will be closed Monday, January 19, in observance of Martin Luther King Jr. Day.

CORN

Corn futures are trading higher again this morning as the recent selling pressure appears to have ignited some export demand. March corn is up 2-1/2 cents to $4.24-3/4 while December is up 1-3/4 cents to $4.49-1/2.
US ethanol stockpiles rose by 3.5% to 24.473 m bbl according to the weekly petroleum report. Plant production was seen at 1.196m barrels per day compared to 1.098m the previous week.
Estimates for today’s export sales report for the week ending January 8 see corn sales in a range between 600k and 1,500k tons with an average guess of 925k tons. This would compare to 390k a week ago and 1,024k the previous year.

Soybean futures are slightly higher again this morning thanks to multiple Chinese purchases. March is up 1/2 cent to $10.55-1/4 while November is up 1/2 cent to $10.58-1/2. The lack of carry points to large expected bushels. March soybean meal is up $2.10 to $298.60 while bean oil is down 0.40 cents to 51.10 cents.
The Brazilian soybean crop for 25/26 is estimated at 179.2 mmt according to a Bloomberg survey. The range of estimates is between 176 and 184 mmt. This compares to CONAB’s 177.1 mmt estimate.
Estimates for today’s export sales report see soybean sales in a range between 800k and 1,800k tons with an average guess of 1,475k. This would compare to 878k a week ago and 501k the previous year.

All three wheat classes are higher to start the day with March Chicago wheat up 4 cents to $5.16-1/4, KC up 5 cents to $5.27-1/4, and Minn wheat up 1/4 cent to $5.67-1/4. Wheat seems to have found a temporary low despite large global supplies.
The Ukrainian wheat crop is expected to produce high yields, and despite a cold start the January, weather conditions have not yet posed a threat to the grain crops in the country.
Estimates for today’s export sales report see wheat sales in a range between 100k and 400k tons with an average guess of 288k tons. This would compare to 109k tons a week ago and 522k the previous year.

Amanda Brill