Grain Market Commentary 1/22/26
CBOT Pricing:
Corn closed 1 to 2.5 cents higher after posting losses in the previous two sessions. The Mar26 contract settled 2.25 cents higher at $4.24 after trading within a 3.25-cent range. May26 and Jul26 futures each gained 2.5 cents, closing at $4.3225 and $4.385, respectively.
Soybeans ended the session mixed. The Mar26 contract slipped 0.5 cents to close at $10.64, while May26 finished 1 cent higher at $10.7625.
Market Headlines:
Severe winter weather warnings are in effect across multiple states:
Forecasters warn that winter storms will impact large portions of the U.S. this weekend, bringing dangerously cold winds, heavy snow, and potential ice accumulation. Nearly half of the US population is under winter storm or extreme cold watches.
The National Weather Service forecasts wind chills near -40 degrees in Minneapolis, MN, along with freezing rain stretching from Dallas to Nashville. In addition, more than 8 inches of snow is possible in Tulsa, OK; Louisville, KY; Cincinnati, OH; and Washington, DC.
President Trump spoke at the Davos World Economic Forum:
Each year, the Swiss town of Davos hosts the World Economic Forum, a conference focused on issues including economic disparity, climate change, technology, and global cooperation. The event draws hundreds of world leaders, including more than 400 political officials and nearly 850 chief executives from leading companies. President Donald Trump delivered a speech yesterday, outlining his goals related to Greenland.
The President stated he would not pursue taking Greenland by force, a position that had not been ruled out previously. The comments were viewed positively by markets, contributing to a rally in US equities.
Weekly EIA Energy Data:
(week ended 1.16.26)
US ethanol production averaged 1.119 million barrels per day for the week, implying total weekly output of 7.833 million barrels. Production came in near the lower end of market expectations of 1.100–1.186 mbpd and declined slightly from the prior week’s record pace of 1.196 mbpd. Output remained above the same week last year, when production averaged 1.099 mbpd. Despite easing from last week’s record high, production aligns with the four weeks preceding the spike, which averaged 1.111 mbpd.
US ethanol stocks rose again to 25.739 million barrels amid the seasonal build, up from 24.473 million barrels the previous week. The increase exceeded market expectations of 24.0–24.9 million barrels. Stocks remain below the same week last year, when inventories totaled 25.874 million barrels.
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