Overview
- U.S. corn export commitments reached 50.895 million metric tons as of Jan. 1, up 30% year over year and 63% of USDA’s full‑year projection, with shipments at 27.414 MMT and running ahead of average pace.
- Weekly export sales for the Jan. 1 week showed corn at 377,598 MT, a marketing‑year low, soybeans at 877,914 MT near the low end of estimates, and wheat at 118,701 MT below expectations.
- EIA reported ethanol output at 1.098 million barrels per day for the week ending Jan. 2 with stocks up 708,000 barrels, a holiday‑affected pullback that softens near‑term corn demand signals.
- CFTC data showed managed money trimmed the corn net short to 16,426 contracts, funds reduced their soybean net long to 57,717, and speculators expanded net shorts in Chicago wheat while cutting shorts in KC wheat.
- USDA confirmed private soybean sales of 132,000 MT to China and 198,000 MT to unknown destinations, and China’s Sinograin scheduled a 1.1 MMT auction of imported soybeans for Jan. 13.