Grain Market Bulls Are Showing Some Signs of Life. Can ‘King Corn’ Lead the Way Higher?

Group 1: Corn Market Insights - The corn futures market experienced a price recovery on January 16, following a bearish USDA supply and demand report earlier in the week [1] - Despite recent gains, March corn is still down 21 cents for the week, indicating a need for stabilization to regain bullish confidence [2] - USDA reported record harvested acres of 91.3 million and an average yield of 186.5 bushels per acre, suggesting a strong outlook for U.S. corn production [4] - Strong export demand for U.S. corn is evident, with reported sales of 120,000 MT to Japan and 298,000 MT to unknown destinations for the 2025-26 period [5] - Attention is shifting to Brazil's second-crop corn plantings, with weather conditions being monitored closely, particularly in southern Argentina [6] Group 2: Soybean Market Dynamics - March soybean futures closed down 4 3/4 cents last week, with soybean meal futures hitting a nearly three-month low, down $13.70 for the week [7] - Despite losses in corn, soybean futures bulls showed resilience, recovering from earlier losses [7] - The downtrend in soybean meal prices poses a bearish outlook for soybeans, with a need to break this trend for a sustainable price uptrend [7] - Historical data indicates that when soybean meal prices fall below $300.99, it may present a value-buying opportunity [7]