January 9, 2026

Mid-Co Morning Comments:
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• Grain markets are mixed this morning. Corn is down about a penny while soybeans are up a nickel. Many folks will be positioning today before Monday’s reports. Spreads are mixed: CH/CK traded out to -8 while the SH/SK is at -12.
• Monday’s reports will inject a lot of information into the marketplace. Average Estimates have US corn yield at 184 bpa and production at 16.554 billion bushels. This would put ending stocks just under 2 billion bushels and would be tough to justify a corn futures rally above $4.50/$4.60.
• A supreme court ruling on Trump’s use of IEEPA tariffs could come out today. If the ruling goes against the Trump administration the administration said they will use some workaround including licensing fees. Financial markets will be closely monitoring the situation.
• Storms rolled across Argentina last night and regular rain is expected to return in the next couple of weeks. Northern Brazil is expected to receive some beneficial rains soon as well.
• The Midwest saw some January severe weather last night. Damaging winds were reported in central Illinois. Rainfall totals were variable: We had a little over a half inch in Bloomington and almost an inch at the farm.