TFM Midday Update 1-16-2026

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 at midday. March futures are 4-¼ cents higher at $4.24-½. December futures are 2 cents higher at $4.48-¾.
This morning the USDA reported a private export sale of 120,000 metric tons of corn to Japan for delivery during the 2025/26 marketing year. The agency also reported an additional 298,000 metric tons of corn sold to unknown destinations for delivery in the same marketing year.
Following the January WASDE report, the corn market will continue working to balance ample supplies against strong demand. U.S. export shipments will need to remain robust through the remainder of the marketing year to prevent inventories from becoming burdensome.

Soybeans are trading mixed at midday with nearby contracts posting shallow losses, and deferred contracts offering small gains. March futures are trading ½ cent lower at $10.52-½. November futures are trading ¼ cent higher at $10.64-½.
The release of the National Oilseed Processors Association’s latest monthly crush report continues to support the soy complex. NOPA reported soybean crush near 225 million bushels, an increase of roughly 9 million bushels.
Brazil’s agriculture agency, CONAB, released its January crop production estimates yesterday morning, lowering its forecast for the Brazilian soybean crop to 176.12 million metric tons, down 1.0 million from last month due to reduced yield expectations. By comparison, USDA recently raised its Brazilian soybean production estimate to 178 million metric tons.

Wheat futures are trading higher across the board at midday. March Chicago wheat futures are 8-½ cents higher at %5.19. Kansas City wheat futures are 9-½ cents higher at $5.26-¾. Spring wheat futures are 4-½ cents higher at $5.67.
Continued strength in the U.S. dollar is expected to act as a headwind to any rally attempts in the wheat complex, with the dollar having trended steadily higher since December 24.
According to USDA, the share of winter wheat acreage affected by drought declined 1% from the previous week to 41%. Meanwhile, 10% of spring wheat acres remain in drought, unchanged from last week.

Matthew Lucas