Grain markets have been sideways to choppy this week before the WASDE report on Monday. The focus is on Monday’s reports. The Bloomberg survey is usually the first one out and it shows the trade looking for a yield in corn of 184 bu/acre with the carry over at 1.986 billion bushels. It will likely take a sub 183 bu/ac number to move this market higher. March continues to hold above support at its 9-week moving average which is at $4.44 ½. Strongest resistance remains from $4.50 to $4.56. Corn exports have been lower of the last two weeks.
Chart resistance in soybeans remains at $10.84 with support at last week’s low of $10.38. Soybeans rallied Wednesday on reports that China was continuing their buying program. Heavy rainfall in the coming days across. Private exporters reported sales of 132,000 metric tons of soybeans for delivery to China during the 2025/2026 marketing year. Cumulative corn sales are still about 170 mbu ahead of pace for the year.
Brazil expects to export a record 112 million metric tons of soybeans in calendar year 2026, with 77 mmt going to China, down 10 mmt from 2025 due to China's anticipated imports from the United States. That says that Brazil expects to pick up other customers that would normally buy from the United States as shipments to China drop. The U.S. new-crop November soybean / December corn price ratio is currently trading near 2.31 - near the "neutral" point for shifting acreage
Argentina’s agricultural belt is expected to boost soil moisture and support record corn and soybean harvest projections, according to the grains exchanges there. The Buenos Aries Grains Exchange sees a corn crop of 61 mmt and a bean crop of 47 mmt.
Farmers Union Averaging Contract for old and new crop corn is having many producers getting signed-up. Deadline is Friday January 16, 2026. Don't miss out of including this into your marketing plan. History proves the averaging period has performed well with prices.
John R. Anderson Vice President of Grain Farmers Union Cooperative 563-380-2311
