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The first full week of 2026 marked another record for U.S. ethanol production.
Ethanol production in the week ended Jan. 9 hit a record 1.196 million barrels, the Energy Information Administration said Wednesday. Analysts, on average, had expected production to rise to 1.105 million barrels from 1.098 million barrels the previous week, according to a Bloomberg survey.
The data likely helped corn futures as the March contract bounced 2 ¼ cents after a 26-cent drop the previous two sessions following a USDA crop production update that boosted the crop above the 17 billion bushel threshold.
Ethanol stocks rose to 24.473 million barrels, above the average estimate of 24.126 million barrels and up from 23.652 million barrels the previous week.
USDA on Tuesday estimated ethanol demand at 5.6 billion bushels of corn in the current marketing year. A record crop has served as fodder for farm and biofuel groups as they push for year-round approval of E15, a 15% ethanol blend with gasoline, and clarity on biofuel blending rules and other measures aimed at boosting demand for the crop.
USDA Secretary Brooke Rollins, speaking at the American Farm Bureau Federation convention in Anaheim, California, earlier this week said it was up to Congress to “do its job and pass nationwide year-round E15 legislation to continue to drive domestic crop demand providing a clear win-win for farmers and consumers.”
Rep. Randy Feenstra, an Iowa Republican, told the Brownfield Ag Network on Tuesday that year-round E15 legislation could be attached to a mini-omnibus appropriations bill. “That’s going to happen next week,” he said. “We’ve got one passing this week, it probably won’t jump on this week. It’s really directed on how the Senate can achieve this, we’re working from the House side. But we’re just trying to find that train that we can jump on and get it done.”
Whole milk back in schools… Whole milk will return to school cafeterias after President Donald Trump signed legislation Wednesday overturning Obama-era limits on higher-fat milk options, the Associated Press reported. Nondairy drinks, including fortified soy milk, may also be on the menu in the coming months following adoption of the Whole Milk for Healthy Kids Act, which was passed by Congress in the fall. The law allows schools participating in the National School Lunch Program to serve whole and 2% fat milk along with the skim and low-fat products required since 2012.
Full metal rally… It was another day of records for metals Wednesday, with gold, silver and even tin hitting all-time highs. “The global appetite for gold, silver, and other real assets such as platinum and copper is rooted in a macro backdrop that has become increasingly uncomfortable for investors who rely on financial assets alone,” said Ole Hansen, head of commodity strategy at Saxo Bank, in a Wednesday note. “A softer dollar and expectations of [Fed] rate cuts are the most visible drivers, but more importantly this cycle has been supercharged by something deeper: growing unease about fiscal discipline, monetary credibility, and financial stability,” he said.
NAWG applauds USDA helming Food for Peace program…The National Association of Wheat Growers cheered an interagency agreement that sees USDA taking over administration of the Food for Peace food aid program from the State Department. Food for Peace was previously managed by the U.S. Agency for International Development, which was eliminated last year. “Having USDA manage Food for Peace strengthens the program’s stability, ensures continued market opportunities for American-grown crops, and safeguards in-kind food aid for the people around the world who need it the most,” said NAWG CEO Sam Kieffer.
India cotton imports surge… India’s imports of cotton rose 158% year over year to a record 3.1 million bales in the December quarter after the government allowed duty-free imports, Reuters reported, citing a leading industry group. Higher imports by the world’s second-largest cotton producer are expected to help support global prices, but could weigh on local prices, which had been on the rise due to crop damage, the report said.
Largest landowner… America’s largest private landowner is Stan Kroenke, according to Land Report 100’s newly updated 2026 rankings. The real-estate magnate, whose net worth is estimated at $21.3 billion by Forbes, controls an estimated 2.7 million acres nationwide and cemented his spot atop the rankings by acquiring more than 937,000 deeded acres of ranchland in New Mexico from the heirs of Teledyne founder Henry Singleton, the report said.