January 14, 2026

Mid-Co Morning Comments:
.

• Good morning.  Grain prices are higher today despite the failed attempt at a bounce yesterday.   There is a possibility that the Supreme Court issues a ruling on tariffs today, so a few shorts are getting out of the way this morning.   It is largely expected that President Trump will use the appeal process and/or other avenues for collecting revenue if he doesn’t like the answer today.  March corn hit 30 on the RSI chart so some improvement was due there.  The outside markets are supportive with crude higher again and metals pushing into new highs again.  The weekly ethanol report is out this morning.  China imported 8.044 MMT of beans in December.   Year to date soybean imports totaled 11.833 MMT, up 6.5% from the previous year.   The bean demand from China is there, we just don’t like who the beans are coming from. Tomorrow, we will see another round of data released with export sales, Conab, and NOPA crush all out.  Early yields are good in Brazil, which is prompting private estimates to increase bean production thoughts.  The USDA raised Brazil beans by 3 MMT to 178 MMT to a new record on Monday.  Producer selling has slowed as the shock from Monday slowed activity.  This is helpful for nearby spreads.  Despite the surprise production number, total demand is a record by a mile so gotta feed the market every day.  Cooler weather is coming for the Midwest again this weekend.  Bears fans are hoping it makes that California team uncomfortable.  Argentina slated for some rains later this week.  The healing process for the market doesn’t mean it needs to recover all the losses quickly as a sideways trade helps.  The Supreme Court decision, if we see it today, likely dictates the close.  Have a safe day.