TFM Midday Update 01-22-2026

CORN

Corn futures have traded quietly so far today. At midday, March futures are up 1/4 cent at $4.22, while December futures are higher by 3/4 of a cent at $4.50-1/2.
Farm and biofuel groups, including the National Corn Growers Association and the Renewable Fuels Association, are lobbying to include year-round E15 authorization in ongoing fiscal spending negotiations tied to an approaching government funding deadline, citing potential benefits for corn demand and fuel affordability. While the provision has been actively pursued as part of a must-pass package, pushback from some Republican Party leaders has so far kept E15 language out of the initial deal, leaving its fate uncertain and likely dependent on further negotiations in future funding measures or standalone legislation.
On Wednesday, USDA reported two separate flash corn sales, including 150,000 metric tons sold to Colombia for delivery during the 2025/26 marketing year, along with an additional 195,000 metric tons sold to unknown destinations. Continued export strength has remained a tailwind for the corn market.

Soybean futures are modestly higher at midday as the market continues to test resistance near $10.70. March soybean futures are up 1/4 cent at $10.64-3/4, while November soybean futures are higher by 2-1/4 cents at $10.76-3/4.
Scott Bessent said he held “positive” talks with He Lifeng, fueling optimism that China could step up purchases of U.S. soybeans after recently fulfilling its pledge to buy 12 million metric tons. One Beijing-based analyst noted that continued Chinese buying would increase the likelihood of a year-over-year drawdown in U.S. soybean inventories.
This morning, USDA reported a flash sale of 192,350 metric tons of soybeans to unknown destinations for delivery during the 2025/26 marketing year.

The wheat complex is trading higher across the board at midday. March Chicago wheat futures are up 6-3/4 cents at $5.14-1/2, Kansas City wheat futures are higher by 6 cents at $5.25-3/4, and MIAX spring wheat futures are up 6-1/4 cents at $5.70.
Argentine and Black Sea origins are expected to supply large wheat purchases this week by major importers Algeria and Saudi Arabia, reinforcing competitive pressure from the Black Sea region.
The market continues to show limited concern over winterkill risk, even as an extreme cold front is expected to impact the Midwest and Southern Plains in the coming days. Heavy snow and ice are forecast for parts of the Southern Plains this weekend; while snowfall could offer some insulation, areas receiving mainly ice or minimal cover may still face an elevated risk of crop damage.

Matthew Lucas