US Export Sales Jolt Grain Markets as Corn, Soybean Bookings Hit Highs

Overview

• USDA reported corn sales of 4.01 MMT, the biggest since March 2021, plus 2.45 MMT of soybeans at a marketing‑year high, 618,076 MT of wheat and 412,457 running bales of cotton for the week of Jan. 15.
• Futures responded into Friday’s close with corn up 5–6.5 cents, soybeans up 3–4 cents, and winter wheat up 12–15 cents, while front‑month cotton finished steady to 7 points lower.
• Buyers included China taking 1.304 MMT of U.S. soybeans, “unknown” destinations leading corn at 1.242 MMT alongside Japan, South Korea and Mexico, with wheat led by unknown, Mexico and South Korea, and cotton led by Vietnam.
• EIA reported U.S. ethanol output at 1.119 million barrels per day for the week ending Jan. 16, down 77,000 bpd from the prior week’s record with inventories rising to 25.739 million barrels.
• USDA’s Cattle on Feed showed December placements down 5.38% year over year and Jan. 1 on‑feed down 3.15%, as live cattle futures rallied and cash trade printed $233–$236.50 live.