West Central Ag Grain Comments 01/06/26 8:01:03 AM
1-6-26
- Grain markets are mixed this morning. March ’26 corn is holding near the 200-day moving average, while both corn and soybean spreads have firmed this week alongside a stronger futures board.
- According to Reuters, China secured an additional 10 cargoes of U.S. soybeans yesterday. Total Chinese purchases are now estimated near 10 MMT, still roughly 2 MMT shy of the White House target.
- Developments in Venezuela continue to dominate headlines. Petroleum and refined products make up the bulk of Venezuelan exports, and the U.S. is moving to take temporary control over portions of the industry. Significant Chinese investment in Venezuela complicates the situation as both sides remain involved. President Trump told NBC News that “a tremendous amount of money will have to be spent,” noting oil companies would front the investment and later be reimbursed through government payments or revenue.
- Stone X raised estimates for the upcoming Brazilian soybean crop to 177.6 million MT’s (6.52 billion bu’s). The higher estimate continues to reinforce the potential of a massive crop in the southern hemisphere depending on late season rains and harvest conditions.
- Congress will be back in session today after taking some time off for the holiday break. Members are addressing urgent funding bills, with a deadline for some agencies set for January 30, 2026, and continuing discussions on healthcare policy
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