Overview
- USDA tallied 2.06 MMT of soybean export sales for the week ending Jan. 8, plus fresh daily sales to China and unknown buyers, and NOPA reported a 224.991 million bushel December crush as soybean futures rose 8–10 cents.
- Corn export sales reached 1.14 MMT with additional private deals to unknown destinations and Japan, yet futures were little changed to lower despite a record 1.196 million bpd ethanol production rate reported by EIA.
- Brazil’s CONAB kept 2025/26 corn output near 138.87 MMT and trimmed soybeans to 176.12 MMT, while Argentina’s Rosario exchange lifted its corn estimate to 62 MMT.
- Wheat futures slipped 2–5 cents after weak weekly bookings of 156,255 MT, even as Saudi Arabia tendered for 595,000 MT and a South Korean buyer purchased 50,000 MT of U.S. wheat.
- Lean hogs rallied $1.90–$2.30 on the day with pork export bookings at 26,826 MT and a higher carcass cutout to $93.60 per cwt, while live cattle recovered part of Wednesday’s losses as boxed beef prices improved.