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Variable rains will be possible for the eastern half of the U.S. over the next several days, with some Mid-South fields set to gather another 1” to 2” between Saturday and Tuesday, per the latest 72-hour cumulative precipitation map from NOAA. Later this month, NOAA’s new 8-to-14-day outlook predicts near-normal precipitation for most of the Corn Belt between January 16 and January 22, with cooler-than-normal conditions likely for most of the Midwest and Plains during this time.
On Wall St., the Dow climbed another 236 points higher in afternoon trading to 49,502, and the S&P 500 touched new record highs following a slightly lower unemployment rate of 4.4% (economists were predicting 4.5%). Energy futures were also in the green, with Brent crude oil rising 2% to move back above $63 per barrel. Gasoline futures were up nearly 1.25%. The U.S. Dollar firmed moderately.
Corn prices quiet in Friday’s session
Prices briefly tested modest gains late this morning before settling back slightly in the red on some net technical selling. March and May futures each inched 0.25 cents lower to close at $4.4575 and $4.5375, respectively.
Some folks refer to the January WASDE report as “the big one.” Big moves can happen, but what happens next Monday is anybody’s guess at this point. Still, there are strategic moves farmers can make ahead of the report to protect profits. Farm Futures executive editor Pam Caraway looked at five marketing moves you may want to consider in today’s Ag Marketing IQ report – click here to learn more.
Meantime, ahead of the next WASDE report, analysts are expecting to see U.S. corn ending stocks trimmed to 1.985 billion bushels, thanks to recent strong export demand, robust ethanol production and increased feed use.
The U.S. Census Bureau showed a record-breaking 248.5 million bushels of corn exports in October 2025. That was 5.9% below September volume while still climbing 63.4% higher year-over-year. Ethanol exports also reached a record 185 million gallons in October, with distillers’ grain exports reaching a near record of 41.99 million bushels.
South Korea purchased 13.3 million bushels of animal feed corn from optional origins (which could have included the U.S.) in tenders that closed earlier today. The grain is for arrival in April.
Corn settlements on Thursday were for 290,659 contracts.
Soybean prices moved modestly higher
Prices captured moderate gains overnight, which partly eroded in Friday’s session. Still, there was enough technical buying for them to improve slightly today. March and May futures each added 1.25 cents to settle at $10.6250 and $10.7450, respectively.
The rest of the soy complex also trended higher today. March soymeal futures tested fractional gains, while March soyoil futures tracked 0.5% higher.
Private exporters announced to USDA the sale of 7.3 million bushels of soybeans for delivery to unknown destinations during the 2025-26 marketing year, which began September 1.
Prior to Monday’s WASDE report from USDA, analysts think the agency will show U.S. soybean ending stocks at 295 million bushels. That would be a modest increase of around 5 million bushels from December, if realized.
You should consider farm succession as a gradual leadership transition rather than a single event, according to Davon Cook, family business consultant with Pinion. Set a multiyear timeline for the next generation to take over, and back off of each area of responsibility as it’s transferred, she recommends. Cook explains more about this multi-phase process in her latest Family Farm Success blog – click here to learn more.
China’s state grain stockpiler, Sinograin, plans to sell up to 40.4 million bushels of imported soybeans in an auction that will be held on January 13. These auctions are strategically held to lower prices and meet current domestic demand.
Soybean settlements on Thursday were for 203,768 contracts.
Winter wheat prices failed to move the needle on Friday
Prices were flat to slightly lower amid a mostly quiet session today. March Chicago SRW futures eased 0.75 cents lower to $5.1725, while March Kansas City HRW futures held steady at $5.3025.
Ahead of Monday’s WASDE report from USDA, analysts expect to see a modest drawdown of U.S. wheat ending stocks, moving from 901 million bushels in December down to 896 million bushels. Traders are also interested in seeing if global ending stocks will rise or fall this month. They were at 258.6 million metric tons in USDA’s December report.
And finally, the U.S. ag sector could really benefit from diversifying exports, boosting demand and emphasizing quality over price, among other things. “The brutal truth is we are no longer the ones feeding the world,” according to Farm Futures executive editor Pam Caraway. “Though we still grow enough corn, soybeans and wheat to do so, our crops simply don’t enjoy the global demand they once did.” Caraway discusses ways we could update our playbook in her latest This Business of Farming column – click here to learn more.
CBOT wheat settlements on Thursday were for 117,946 contracts.