3 Big Things Today, Jan. 23, 2026
- Media Logic Radio
- Jan 23
- 3 min read
By Tony Dreibus | Published on January 23, 2026
1. Soybean Futures Higher on Signs of Ongoing Demand
Soybean futures were higher in overnight trading after USDA confirmed sales of U.S. agricultural products to an overseas buyer for a tenth consecutive business day.
An unnamed country bought 192,350 metric tons of U.S. soybeans for delivery in the marketing year that ends on Aug. 31, the USDA said yesterday.
That follows purchases of a combined 345,000 metric tons of corn to two buyers confirmed on Wednesday and sales of 190,000 tons of soy meal to the Philippines announced on Tuesday.
USDA is scheduled to release its weekly export sales report this morning, a day late due to the Martin Luther King Jr. holiday.
Also buoying prices overnight were talks earlier this week between the U.S. and China, the world's largest importer of soybeans.
Treasury Secretary Scott Bessent said the talks were "positive" and that further discussions between the world's two largest economies are planned.
Soybean futures for March delivery rose 2¾¢ to $10.66¾ a bushel overnight on the Chicago Board of Trade.
Soy meal added a dime to $296.30 a short ton and soy oil futures were up 0.48¢ to 54.26¢ a pound.
Corn futures for March delivery were unchanged at $4.24 a bushel.
Wheat futures added 3¼¢ to $5.18¾ a bushel, while Kansas City futures rose 5¢ to $5.30¾ a bushel.
2. Ethanol Production Drops From a Record, EIA Says
Ethanol output dropped from a record high in the seven days that ended on Jan. 15, according to the Energy Information Administration.
Production of the biofuel fell to an average of 1.119 million barrels a day from 1.196 million the previous week, which was the highest level since recordkeeping started in 2010, the agency said in a report that was delayed by a day.
In the Midwest, by far the biggest producing region, output averaged 1.066 million barrels a day, down from 1.139 million the week prior.
Gulf Coast production plunged to 21,000 barrels a day from 27,000 barrels the previous week, EIA said. East Coast output was down by a thousand barrels to 10,000 a day.
West Coast production was unchanged week to week at 9,000 barrels a day.
The Rocky Mountain region was the lone gainer, rising by a thousand barrels to 11,000 a day, the agency said.
Ethanol inventories in the week through Jan. 16, meanwhile, rose to 25.739 million barrels. That's up from 24.473 million a week earlier and the highest level since April 11, EIA said in its report.
3. Winter Storms, Extreme Cold Expected in Much of the U.S.
Winter storm warnings have been issued for a large chunk of the U.S. stretching from New Mexico into Pennsylvania, while extreme cold warnings are in effect for much of the Corn Belt, National Weather Service maps show.
As much as 7 inches of snow is forecast for much of Missouri starting tomorrow morning, the agency said.
Southern Illinois and Indiana will see anywhere from 5–8 inches of snowfall beginning tomorrow night and lasting through the weekend.
The southern Plains, where hard-red winter wheat is overwintering, will likely see up to 12 inches of snow in some counties, NWS said.
"Significant, impactful snowfall is anticipated, particularly on Saturday," the agency said. "Widespread totals of 5–10 inches are likely, with an increased potential for amounts exceeding a foot in the eastern and central panhandles."
Temperatures in Iowa, meanwhile, are expected to fall as low as minus-40°F, NWS said. Parts of Minnesota will see values drop to around minus-60°F today and tomorrow.
ARTICLE: SUCCESSFUL FARMING, JANUARY 23, 2026
