TFM Midday Update 1-15-2026

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 mixed at midday, drawing some support by a pickup in demand for U.S. corn. March corn is lower at 4.21 ½.
USDA confirmed the following U.S. export sales for delivery in 2025/26: 260,000 tons of corn to Japan and 500,302 tons of corn to unknown destinations.
CONAB released its latest update this morning, estimating Brazil’s total corn crop at 138.87 million tons, down from the 139.9 million expected and nearly unchanged from last month’s 138.88 million.
The Rosario Grain Exchange raised its Argentina corn production forecast to a record 62 million tons on increased planted area, compared with 53 million projected by the USDA earlier this week.

Soybeans continue to show strength at midday, supported by yesterday’s trade and this morning’s flash sales. Soybeans and soybean oil are posting gains, while soybean meal is trading lower. March soybeans are up at 10.53 ¾.
USDA confirmed the following U.S. export sales for delivery in 2025/26: 204,000 tons of soybeans to China, 110,000 tons to unknown destinations, and 360,000 tons to unknown destinations.
CONAB released its latest numbers this morning, estimating Brazil’s production at 176.12 million tons, below the 179.2 million estimate and down from last month’s 177.2 million. Rains are increasing across Brazil this week following recent dryness, while southern Argentina remains an area of concern.
China’s total exports to the U.S. in 2025 were down 20%, while imports from the U.S. declined 14.6%.

Wheat is mixed at midday with little fresh bullish news to support a sustained rally. Chicago March wheat is up at 5.12 ¾ while Kansas City March wheat is down at 5.22¼.
The potential for winterkill next week across the northern Plains may be providing slight support to the market. Bitter cold is not expected to reach the southern hard red wheat areas over the next two weeks.
Expana slightly lowered its EU SRW wheat 2026/27 production forecast to 128.6 million tons, down from 137.2 million for the 2025/26 season.

Lauren VandenLangenberg