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Grains enjoyed a solid session on Friday after a better-than-expected round of export sales data from USDA led to a broad round of technical buying today. Corn prices moved 1.25% to 1.5% higher, while soybeans tested much more modest gains. Winter wheat futures enjoyed the largest gains of the session, meantime, with some contracts rising more than 2.75% higher heading into the weekend.
Many areas are bracing for a massive winter storm that will deliver snow and ice in a band stretching from the Southern Plains to the Northeast. The latest 72-hour cumulative precipitation map from NOAA shows what areas will be hit the hardest between Saturday and Tuesday. Later on, NOAA’s new 8-to-14-day outlook predicts a return to seasonally dry conditions for most of the Corn Belt between January 30 and February 5, with colder-than-normal temperatures also likely for much of the central U.S. during this time.
On Wall St., the Dow sank 264 points lower in afternoon trading to 49,119, weighed down by heavy losses from Goldman Sachs and moving toward weekly losses of around 0.5%. Energy futures moved noticeably higher, with Brent crude oil rising almost 3% this afternoon to $65 per barrel. Gasoline futures were up around 1.75%. The U.S. Dollar softened moderately.
Corn prices enjoyed solid end-of-week rally
Prices moved moderately higher on a round of technical buying that was largely triggered by a massive influx of export sales that was announced this morning. March futures rose 6.5 cents to $4.3050, with May futures up 5.75 cents to $4.38.
Corn export sales were very strong in the week through January 15 after climbing to a marketing-year high of 157.9 million bushels. That was also better than the entire set of trade guesses, which ranged between 74.8 million and 122.0 million bushels. Cumulative sales for the 2025-26 marketing year widened its already commanding lead over last year’s pace after reaching 1.197 billion bushels.
Corn export shipments were much more modest, with 56.4 million bushels. Mexico, Japan, Colombia, South Korea and Taiwan were the top five destinations.
Legislators failed to pass a bill that would have allowed for year-round sales of E15, which would have boosted domestic demand significantly. Instead, Congress opted to form a study council, which some farm industry groups are calling a stalling tactic that prioritizes oil refiners over U.S. farmers. Click here to learn more.
Meantime, Naomi Blohm, senior market adviser with Total Farm Marketing, looked at some research from NCGA that suggested that a 5% ethanol blending increase (from E10 to E15) would translate to producing an additional 6.8 million gallons of ethanol – or 2.4 billion bushels of corn per year! It would be a “game changer,” in Blohm’s words. She took a look at other supply and demand considerations in yesterday’s Ag Marketing IQ blog – click here to learn more.
Corn settlements on Thursday were for 262,150 contracts.
Soybean prices tested modest gains
Prices survived a choppy session on Friday, thanks primarily to a jump in export sales reported by USDA this morning. Exports reached a marketing-year high in the week through January 15 (more on that below). March futures added 3.75 cents to $10.6775, with May futures up 3.25 cents to $10.7950.
The rest of the soy complex also trended higher. March soymeal futures rose 1.25%, with March soyoil futures up 0.4%.
Soybean export sales notched a new marketing-year high in the week through January 15 after reaching 89.9 million bushels. That was also toward the higher end of analyst estimates, which ranged between 55.1 million and 110.2 million bushels. Cumulative sales for the 2025-26 marketing year are still playing catch-up from year-ago volumes after reaching 708.1 million bushels.
Soybean export shipments reached 49.1 million bushels last week. China, Japan, the Netherlands, Mexico and Spain were the top five destinations.
With the Trump Administration pivoting away from clean energy incentives, Jeff Risley, executive director of Renewable Energy Farmers of America, still expects energy development on rural land to find its equilibrium due to a “greatly increasing” demand for electricity. “The market is going to reward the cheapest and fastest that can come on line, and that’s wind and solar,” he said. Farm Progress farm equipment editor Andy Castillo took a closer look at the current environment in his latest reporting – click here to learn more.
Soybean settlements on Thursday were for 233,028 contracts.
Winter wheat prices attracted bargain buyers
With domestic supplies as high as they are, prices were in desperate need of some bullish demand news – which they received on Friday. USDA reported better-than-expected export sales, which jumped to a nine-week high. The ensuing round of technical buying led to double-digit gains, with March Chicago SRW futures rising 14 cents to $5.2950 and March Kansas City HRW futures up 15 cents to $5.4075.
Wheat export sales were up noticeably from the prior four-week average after reaching 22.7 million bushels in the week through January 15. That was also better than the entire set of trade guesses, which ranged between 5.5 million and 16.5 million bushels. Cumulative sales for the 2025-26 marketing year are still tracking moderately higher than last year’s pace after reaching 578.3 million bushels.
Wheat export shipments were less stellar but reached 13.7 million bushels last week. Mexico, Japan, Taiwan, Colombia and Venezuela were the top five destinations.
Jordan issued an international tender to purchase up to 4.4 million bushels of milling wheat from optional origins that closes on January 27. That grain is for shipment during the second half of April.
And finally, if you want to get started with trying more regenerative practices on your operation, you may want to take a page from Nebraska farmer Kenny Reinke’s playbook. “Don’t try something so big that you will hurt yourself,” he suggests. “You have to see for yourself what works.” Reinke shared more of his thoughts on the matter at a recent panel discussion at the Northeast Nebraska Ag Conference – click here to learn more.
CBOT wheat settlements on Thursday were for 87,409 contracts.