Friday, January 16, 2026, 7:00 am

Thursday was a mostly negative day for our markets.  Spot corn closed down 1 3/4, spot soybeans closed up 10 1/2, spot winter wheat closed down 2 and spot spring wheat closed down 4 1/2.  In the overnight trade corn, soybeans and winter wheat are positive with spring wheat mixed.  Oil closed down $2.92 yesterday at $59.08 per barrel.  It is stronger in trading this morning with it now valued at $59.80 per barrel.  Our dollar has traded in a very narrow 10 basis point range over the last 24 hours.  It has varied between a low of $0.719 US and a high of $0.720 US.  This morning it is at the high end of the range with it currently valued at $0.720 US.

Soybeans were our only market that rallied yesterday.  However, after the strong price increase they are still trading below their 20 day moving average.  Some new export sales were made to China as they are getting closer to the 12 million tonne target set with the still unsigned ‘Trade Pact’ made between China and the US.  Even with these purchases soybean export sales are still about 25% behind last year’s pace.  Without something new occurring to spur on increased export sales we should expect the USDA to further reduce these with future WASDE reports.

Soybean oil had a pretty wild day.  Crude oil pulled back with talk that Iran has told the US that they will stop harming (shooting) their protesting residents and this eased concern in the oil market.  This pulled back vegetable oil prices including soybean oil.  It then rallied to close positive for the 5^th time in 6 days as rumours that the Trump Administration would be announcing a new biofuel policy in March that would include increased amounts of biodiesel production.  This will reportedly also include reduced amounts of imported feed stocks to be made into biofuel.

Friday’s thought: Be thankful for some of the struggles in your life.  Not only have they made you stronger, but they have also taught you how to be brave during your darkest storms.