Corn is mostly a penny to 2 cents higher in midmorning trade.
● Corn futures are firmer, with a boost from notable daily sales ahead of USDA’s collection of data at 11:00 a.m. CT.
● USDA reported daily sales of 204,000 MT of corn to South Korea and 310,000 MT to unknown destinations during 2025-26.
● USDA will release a drove of data at 11 a.m. CT, with analysts expecting 2025 corn production at 16.552 billion bu., and an average yield of 184.0 bu. per acre, on average. Dec. 1 stocks are estimated to be 12.962 billion bu. Ending stocks for the 2025-26 marketing-year are expected to total 1.972 billion bu.
● USDA reported weekly corn inspections totaled 1.49 MMT during the week ended Jan. 8, down 168, 475 MT from the previous week.
● March corn futures continue to face resistance at $4.47 1/2, which is backed by the Dec. 26 high of $4.53. Initial support lies at the 200-, 40-, 20-, 10- and 100-day moving averages, layered from $4.44 3/4 to $4.40 1/2.
Soybeans are 6 to 7 cents higher, while soymeal is over $1.00 lower. Soyoil is around 100 points higher.
● Soybeans are testing resistance, following solid inspection data ahead of USDA’s late-morning data release.
● Traders expect USDA to peg soybean production at 4.229 billion bu. and an average yield of 52.7 bu. per acre, ono average. Dec. 1 stocks are expected to total 3.25 billion bu. Ending stocks for 2025-26 are expected at 292 million bu.
● China is restarting soybean auctions following a three-week pause. Sinograin will auction 1.13 MMT of soybeans on Tuesday, according to a statement published on the website of the National Grain Trade Center on Friday.
● USDA reported weekly soybean inspections totaled 1.53 MMT during the week ended Jan. 8, up 545,591 MT from the previous week.
● March soybeans are testing resistance at the 10-, 20- and 200-day moving averages, layered from $10.59 1/2 to $10.67 1/2. Initial resistance is at $10.71 3/4, which his backed by the 100-day moving average of $10.84 3/4.
Winter wheat futures are 8 to 13 cents higher, while HRS futures are mostly 6 to 7 cents higher.
● SRW wheat futures have edged to one-month high ahead of USDA’s winter wheat seeding data.
● USDA will release its Winter Wheat Seedings Report in late morning trade in addition to quarterly stocks, which are estimated to have totaled 1.636 billion bu. on Dec. 1. Ending stocks for the 2025-26 marketing year are expected at 896 million bu.
● Bitter cold in western Russia and northeastern Europe will have no negative impact on winter crops due to significant snow cover, according to World Weather Inc.
● USDA reported weekly wheat inspections totaled 317,465 MT during the week ended Jan. 8, up 133, 989 MT from the previous week.
● March SRW futures are testing resistance at $5.24 3/4, which is bac ked by the 40- and 100-day moving averages, layered at $5.27 3/4 and $5.33 3/4. Initial support lies at the 20- and 10-day moving averages, each trading around $5.14.
Live cattle are moderately higher, while feeders are posting heftier gains at midmorning.
● Cattle futures are notably firmer to start the week in corrective trade following moderate selling last week.
● Cash cattle trade last week likely notched a slight decline from the previous week, with cash trade averaging $231.42 on Friday.
● Choice boxed beef fell $1.16 on Friday to $355.63, while Select rose 11 cents to $352.17. Movement totaled 118 loads.
● February futures continue to face support at the 10-day moving average of $233.86, while resistance stems from last week’s high of $237.45.
Hog futures are facing notable pressure at midsession.
● Nearby lean hog futures are notably lower, in a breakout of the recent range, though technical support is limiting a push lower.
● Today’s projected cash index price is down 13 cents to $80.85.
● The pork cutout value rebounded $1.53 on Friday to $92.32 amid gains in all cuts. Movement totaled 338.0 loads.
● February lean hogs are testing support at the 20- and 200-day moving averages, with additional support at $83.88. Resistance stands at the 100-day moving average of $85.27.