Good morning.
Rally one day, pause the next has been the theme of the ag markets this week, and that appears to be no different for Thursday as the space is once again taking a breather following another run up on Wednesday. Corn futures this morning are unchanged to a penny lower, soybean futures are trading either side of unchanged, and the Chicago wheat market is trading 2-3 cents higher.
This morning’s weekly export sales report, which will be the first that is up-to-date since the government shutdown and will have data for the week ending January 1, is expected to show corn sales in the week between 700k-1.5 mil MTs, soybean sales between 750k-1.3 mil MTs, and wheat sales in a range of 200k-500k MTs. The report is due out at 7:30am central time this morning.
Canadian Prime Minster Mark Carney’s office said on Wednesday that the leader would be visiting China next week from January 13th-17th, in what will be the first such visit in nearly 10 years since 2017. The meeting comes following talks between Carney and Xi in South Korea earlier this fall, but its unclear this morning whether the Canadian PM is actually scheduled to meet with Xi in person while in the country.
Poet LLC, one of the largest ethanol and biofuel companies in the US, announced this week that they would be expanding processing capacity at its plant in Shelbyville, IN, with plans in place to more than double production from around 98 million gallons of ethanol annually to more than 193 million gallons by the end of 2027. Poet claims the move will generate more than 30 million bu worth of increased demand for corn.
The Trump administration said on Wednesday that the US was planning to withdraw from nearly 70 international bodies and treaties ranging from climate policies to gender equality, on the basis that they “operate contrary to US national interests.” The administration also argued that in some of the cases, the agreements no longer served a US purpose or had disproportionate costs and constraints.
As a reminder, the index fund roll starts today and is expected to last into the first part of next week as fund managers roll positions ahead. Most of this business is usually done as TAS trades so to limit the impact on the market, but occasionally prices could see brief periods of increased volatility in thinner markets, especially like livestock and some of the more less frequently traded grain and soy contracts.
Rains look to begin falling in the southwestern part of the Midwest through the morning this morning, with the first of two low pressure systems set to work through the area the next few days entering the region and then working north and east through the day today and into tomorrow morning. Precipitation-wise, the EU model this morning is showing anywhere from a few tenths to around an inch of moisture out of this system, with NE/IA/MN/WI expecting to see snowfall and the rest of the region to the south and east expecting to see mostly rain.
Models have a new round of rain for Argentina next Wednesday/Thursday in the forecast, but otherwise things are little changed here again this morning. Rainfall the rest of the week and into the weekend will favor western and northern Argentina for the most part, with this moisture then seen expanding into southern and southwestern Brazil into the first part of next week. Eastern Brazil looks to stay on the drier side the next week or so, but like we’ve talked about some, the main growing regions like Mato Grosso are in the west of the country, which limits the impact this dryness has on crops or markets.
Have a great day.
Grain Comments: 01-08-2026
Good morning.
Rally one day, pause the next has been the theme of the ag markets this week, and that appears to be no different for Thursday as the space is once again taking a breather following another run up on Wednesday. Corn futures this morning are unchanged to a penny lower, soybean futures are trading either side of unchanged, and the Chicago wheat market is trading 2-3 cents higher.
This morning’s weekly export sales report, which will be the first that is up-to-date since the government shutdown and will have data for the week ending January 1, is expected to show corn sales in the week between 700k-1.5 mil MTs, soybean sales between 750k-1.3 mil MTs, and wheat sales in a range of 200k-500k MTs. The report is due out at 7:30am central time this morning.
Canadian Prime Minster Mark Carney’s office said on Wednesday that the leader would be visiting China next week from January 13th-17th, in what will be the first such visit in nearly 10 years since 2017. The meeting comes following talks between Carney and Xi in South Korea earlier this fall, but its unclear this morning whether the Canadian PM is actually scheduled to meet with Xi in person while in the country.
Poet LLC, one of the largest ethanol and biofuel companies in the US, announced this week that they would be expanding processing capacity at its plant in Shelbyville, IN, with plans in place to more than double production from around 98 million gallons of ethanol annually to more than 193 million gallons by the end of 2027. Poet claims the move will generate more than 30 million bu worth of increased demand for corn.
The Trump administration said on Wednesday that the US was planning to withdraw from nearly 70 international bodies and treaties ranging from climate policies to gender equality, on the basis that they “operate contrary to US national interests.” The administration also argued that in some of the cases, the agreements no longer served a US purpose or had disproportionate costs and constraints.
As a reminder, the index fund roll starts today and is expected to last into the first part of next week as fund managers roll positions ahead. Most of this business is usually done as TAS trades so to limit the impact on the market, but occasionally prices could see brief periods of increased volatility in thinner markets, especially like livestock and some of the more less frequently traded grain and soy contracts.
Rains look to begin falling in the southwestern part of the Midwest through the morning this morning, with the first of two low pressure systems set to work through the area the next few days entering the region and then working north and east through the day today and into tomorrow morning. Precipitation-wise, the EU model this morning is showing anywhere from a few tenths to around an inch of moisture out of this system, with NE/IA/MN/WI expecting to see snowfall and the rest of the region to the south and east expecting to see mostly rain.
Models have a new round of rain for Argentina next Wednesday/Thursday in the forecast, but otherwise things are little changed here again this morning. Rainfall the rest of the week and into the weekend will favor western and northern Argentina for the most part, with this moisture then seen expanding into southern and southwestern Brazil into the first part of next week. Eastern Brazil looks to stay on the drier side the next week or so, but like we’ve talked about some, the main growing regions like Mato Grosso are in the west of the country, which limits the impact this dryness has on crops or markets.
Have a great day.
View All News >