TFM Midday Update 1-14-2026

CORN

Corn is rebounding at midday after a tough start to the week, with renewed demand lending support to the market. March corn is trading up at 4.20. USDA confirms the sale of 136,000 tons of corn to South Korea for delivery in 2025/26.
China raised its corn production estimate by 1 million tons in its latest supply and demand report this week, pushing production to a record 301.24 million tons.
Ethanol production surged to 352 million gallons for the week ending Friday, January 9, well above expectations and a new all-time high. Output was up 9% year over year, with 119 million bushels of corn used in the production process.

Soybeans are pushing higher at midday on improved demand. Soybeans and soybean meal are posting gains, while soybean oil is trading lower. March soybeans are up at 10.33 ¼.
USDA confirms the sale of 334,000 tons of soybeans to China for delivery in 2025/26.
ANEC forecasts January soybean exports from Brazil at a record 3.73 million tons, up 1.3 million tons from last week’s estimate.
President Trump’s announcement on Sunday that countries purchasing goods from Iran will face an additional 25% tariff on U.S. goods has raised concerns that the move could further strain relations with China, one of the largest buyers of Iranian products.

Wheat is trading lower after a higher start to the morning, with little fresh news to sustain gains following Monday’s bearish USDA report. March Chicago wheat is down at 5.08 ½, while March Kansas City wheat is lower at 5.17 ¾.
The U.S. Plains are expected to see moderate temperatures this week, but colder air is forecast to move in next week, raising some winterkill concerns in the Upper Plains.
Russia has lowered its export duty to zero in an effort to stimulate additional shipments. December exports totaled 4.2 million tons, up from 3.4 million tons in December a year ago.
French SRW ending stocks rose slightly to 2.8 million tons, up from 2.74 million last month and 12.7% higher than a year ago.

Lauren VandenLangenberg