GRAIN CALLS
Corn: 3 to 5 cents higher.
Soybeans: 9 to 11 cents higher.
Wheat: 1 to 3 cents higher.
GENERAL COMMENTS: Strength across commodities was the norm overnight amid heightening geopolitical tensions, spurring the grain complex higher. Soybeans are due for additional profit-taking as prices are oversold on the daily bar chart. Front-month crude oil futures favored the upside overnight while the U.S. dollar index is over 400 points higher.
U.S. stock indexes, gold, silver and the U.S. dollar rose after the surprise weekend U.S. ouster of Venezuela’s President Nicolas Maduro fanned geopolitical risk but not panic. Risk-sensitive assets remained in demand, with technology stocks driving gains in global equities. Equity traders are showing little concern that tensions will curtail a three-year bull run in global stocks,” said a Bloomberg report. Nymex crude oil futures were near steady and trading around $57.25 a barrel overnight, while Brent crude fell toward $60 a barrel, in a sign that oil traders were taking the developments in Venezuela in stride. “On a day that saw demand for havens and riskier assets, the greenback and gold offered safety as questions swirled about what the weekend’s events hold for the global order. In bond markets, the yield on 10-year U.S. Treasury note fell two basis points to 4.17%. “The question is whether the events will add to the appeal of U.S. debt by stoking risk or diminish demand due to concerns over inflation or U.S. fiscal policy,” said Bloomberg.
Traders and investors are focused on key U.S. economic data this week that could influence Federal Reserve policy. Markets are awaiting the monthly jobs report for December on Friday, along with jobs and labor turnover survey (JOLTS) and ADP employment figures, ISM purchasing managers indexes (PMIs), and the Michigan consumer confidence survey.
Mexican authorities reported a case of the New World Screwworm parasite late last week, Reuters said, the second case reported in two days as Mexico works to contain an outbreak that has kept the U.S.-Mexico border closed to Mexican livestock. The parasite was detected and treated in a goat in the State of Mexico, which borders capital Mexico City, the ministry said, adding that the 20 other animals at the site tested negative and were given preventive treatment. On December 31, the ministry reported a case in a six-day-old cow calf in the northern state of Tamaulipas, also the only positive case on site. Mexico has so far reported a total of 13,106 cases since November of 2024, according to government data through December 31, 2025. Of those cases, 671 were active currently. The southern border state of Chiapas has the most confirmed cases, followed by Oaxaca, Veracruz and Yucatan.
CORN: March corn saw impressive gains overnight. Resistance comes in at $4.42 1/4 on persistent strength, while bulls are looking to hold prices above $4.37 on a reversal lower.
SOYBEANS: March soybeans surged higher overnight. Friday’s for-the-move low of $10.38 stands as key support with tentative backing at $10.45 3/4 on the way. Resistance stands at the 10-day moving average at $10.61 3/4.
WHEAT: March SRW futures saw modest strength overnight. Psychological support persists at the $5.00 mark, while bulls are eyeing a close over the 10-day moving average at $5.12 1/2.
LIVESTOCK CALLS
CATTLE: Higher.
HOGS: Choppy/higher.
CATTLE: Cattle futures are expected to open higher in an extension of last week’s gains. Persistent strength in the cash market encouraged traders to push prices higher after a few week’s of consolidation Friday, further cementing bulls’ technical edge. While poor packer margins could limit negotiations, feedlots certain maintain the near-term edge.
HOGS: Lean hogs are expected to open with a mostly firmer tone on corrective strength. February futures hit uptrend support in Friday’s selloff, which could limit further selling pressure, though last week’s lower high could indicate additional profit-taking is close at hand. The CME lean hog index continues to see choppy action, down 41 cents to $81.82 as of Dec. 31. How the index reacts over the coming week will be key as strength is typical after the start of the calendar year.