TFM Morning Update 01-09-2026

CORN

Corn futures are trading slightly lower this morning and are trading in the middle of their recent range. March corn is down 1/2 cent to $4.45-1/2 which is just above the 200-day average. December corn is down 1/4 cent to $4.64-1/2.
Yesterday’s export sales for the week ending January 1 saw corn sales poor at 390k tons, which was down from 756k tons the previous week. Top buyers were the South Korea, Mexico, and Japan.
Estimates for Monday’s WASDE report see corn yield falling by 2 bpa to 184.0 bpa. Ending stocks are expected to be slightly lower from last month, but South American production may be slightly higher.

Soybean futures are trading higher to start the day and are once again right at the 200-day moving average but have not broken it yet. March is up 5-1/4 cents to $10.66-1/2 and November is up 5-1/4 cents to $10.78-1/4. March soybean meal is up $1.80 to $305.40 and bean oil is up 0.19 cents to 49.63 cents.
Export sales for the week ending January 1 were decent for soybeans at 878k tons, which compared to 1,244k tons the previous week. Top buyers were China, Egypt, and Indonesia.
Estimates for next week’s WASDE report see soybean yield called lower by 0.3 bpa to 52.7 bpa. Ending stocks are expected to be unchanged, but Brazilian production is expected to increase.

All three wheat classes are slightly lower this morning with March Chicago wheat done 1/4 cent to $5.17-3/4, KC wheat down 1/2 cent to $5.29-3/4, and Minn wheat down 1/2 cent to $5.70-3/4.
Export sales ending January 1 saw wheat sales poor at 109k tons which compared to 105k tons the previous week. Top buyers were the Philippines, unknown destinations, and Mexico.
Estimates for the WASDE report see few changes to wheat stocks from 901 mb last month. Seedings for 2026 are expected to be lower for all wheat classes. US grain stocks are seen slighting higher.

Amanda Brill