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]

Group 1: Market Trends - Grain and lean hog futures markets started 2006 with a weaker tone, while live and feeder cattle futures markets showed strong performance [1] - Technical selling pressure was observed in corn and soybean markets, while winter wheat futures bulls attempted to stabilize their markets [2] - March corn futures fell by 12.5 cents last week, and March soybeans experienced a 26.75-cent loss, marking the lowest close since October 16 [3] Group 2: Price Movements - March corn futures are currently in a sideways trading range, drifting towards the lower end defined by a November high of $4.57 and a low of $4.34. Bulls are optimistic about good export demand providing price support [4] - Despite a steady stream of Chinese purchases of U.S. soybeans estimated at around 10 million metric tons, soybean futures prices have dropped over $1.00 per bushel since mid-November highs [6] Group 3: External Factors - The detection of New World Screwworm in Mexico has led to a surge in live and feeder cattle futures prices, potentially delaying the opening of the U.S. southern border to feeder cattle imports from Mexico [2] - Growing conditions for South American crops, particularly Brazil's late-planted soybean crop and second-crop corn plantings, are being closely monitored, with no major problems reported so far [5]