January 21, 2026

Mid-Co Morning Comments:
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• Grain markets are back in the green this morning, with both corn and soybeans posting solid early gains. Soybean spreads are firmer, with SH/SK at -10 and SH/SN at -21 ¾. Corn spreads are steady to slightly firmer, with CH/CK trading -7 ½ at the open
• Corn basis was mixed yesterday. ADM Decatur backed off its nearby bid to +3H. Ohio ethanol plants remain firm, with POET Marion, OH posting +25H for Jan/Feb corn. Southeastern rail values firmed slightly and continue to run well above year-ago levels.
• President Trump is scheduled to speak this morning in Davos, Switzerland at the World Economic Forum, with meetings planned alongside global leaders. Greenland is expected to be part of the discussion. Financial markets are watching closely, particularly as most outside markets are lower to start the day.
• Congressional lawmakers did not include E-15 in spending bills that will be presented to congress to avoid another government shutdown. Lawmakers who support year-round E15 were working to salvage the provision. The EV industry including Elon Musk has opposed an increase in ethanol blending.
• Weather: A strong winter storm is forecast to impact parts of Oklahoma, Arkansas, Kentucky, and much of the Northeast. These regions could face logistical disruptions, particularly in areas unaccustomed to snowfall. Tyson Springdale has requested additional loads early in the week as a precaution. Barge movement has been a challenge on the Illinois River this week with Ice. St Louis has also had some issues with the colder temperatures and lower water levels.