By Tony Dreibus | Published on January 30, 2026

1. Corn, Soybean Futures Decline on Weak Sales

Corn and soybean futures were lower in overnight trading on disappointing export sales data. 

Corn sales to overseas buyers in the week that ended on Jan. 22 dropped 59% week to week to 1.65 million metric tons, the Ag Department said in a report. 

Japan was the big buyer at 365,100 tons, followed by Mexico at 350,800 tons, and Colombia at 339,500 tons. 

Soybean sales fell 67% weekly to 819,000 metric tons, USDA said. 

China purchased 233,500 tons, Egypt was in for 171,000 tons, and Mexico bought 70,700 tons from U.S. suppliers, the agency said. 

Wheat sales were down 10% week-to-week to 558,200 metric tons as Japan bought 141,300 tons, Mexico purchased 96,800 tons, and Nigeria was in for 90,500 tons. 

Still, sales of corn and wheat have surged on an annual basis. 

Exports of corn since the start of the marketing year on Sept. 1 now stand at 32.1 million metric tons, up 53% from the same timeframe a year earlier, USDA data shows. 

Wheat shipments since the beginning of the grain's marketing season on June 1 are up 21% go 16.2 million metric tons. 

Soybean exports were down 38% year over year to 20.5 million metric tons. Shipments of the oilseeds were down due to the tariff wars between the U.S. and China that ended at the end of October. 

Corn futures for March delivery fell 2½¢ to $4.28¼ a bushel overnight on the Chicago Board of Trade. 

Soybean futures for March delivery lost 6¾¢ to $10.65½ a bushel. Soy meal lost 60¢ to $295.40 a short ton and soy oil futures were down 0.58¢ to 53.45¢ a pound. 

Wheat futures gained 1½¢ to $5.43 a bushel, while Kansas City futures added ½¢ to $5.47½ a bushel.

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2. Farmers Sold Soybeans Last Fall as Commercial Storage Grew

Farmers were aggressive sellers of soybeans last fall and moved a record amount of crops to commercial storage to make way for the record corn harvest, CoBank said in a report released yesterday. 

Company's owned about 74% of soybeans in commercial storage as of Nov. 30, up from 66% a year earlier, as producers sold soybeans at a faster pace, Tanner Ehmke, the lead grains and oilseeds economist with the bank. 

"The share of soybean bushels in commercial storage that were enrolled in delayed pricing programs and basis contracts also fell last fall as farmers priced soybeans during the market rally following the trade truce between President Donald Trump and Chinese President Xi Jinping," he said. 

Corn and wheat pricing last fall, meanwhile, dropped as company ownership of corn in commercial storage dropped to 73% from 77% a year earlier, and wheat ownership declined to 72% from 75%, Ehmke said. 

"Lack of farmers selling corn and wheat has supported cash basis in some regions, but the increase in the amount of bushels waiting to be priced implies greater selling pressure lies ahead for corn and wheat," he said. 

Off-farm storage grew as corn inventories on Dec. 1 reached a record high of 13.3 billion bushels, a 10% year-over-year increase. 

About 4.58 million bushels of the grain were stored off the farm, a 3.9% annual increase and the highest in seven years, while on-farm storage jumped 14% to 8.7 billion bushels. 

"CoBank's data reveals that farmers have been patient sellers of corn and wheat," Ehmke said in the report.

"Any material increase in corn and wheat prices will likely be met with heavier selling pressure compared to soybeans that already experienced a higher level of farmer selling last fall.

"The increase in on-farm storage for corn in particular implies there is more corn in the countryside also waiting to be priced, pressuring both flat price and basis."

3. Winter Weather Expected in Montana, South Dakota

Winter weather advisories have been issued for eastern Montana and western South Dakota, while chilly weather is expected in several other states, according to the National Weather Service. 

As much as an inch of snow and a tenth of an inch of ice is forecast for western South Dakota this weekend, the agency said. Winds will gust up to 35 mph. 

Some patchy blowing snow and slippery roads are expected in the area. 

Extremely cold weather is forecast from central Kansas south into Texas and east along the Gulf Coast, NWS maps show. 

Wind chills in southeastern Kansas and northeastern Oklahoma will fall to around minus-15°F overnight, the agency said. 

Article: SUCCESSFUL FARMING, JANUARY 20, 2026