Soybeans Rally as Corn, Cotton and Cattle Firm on Midweek Data

Fresh export bookings, tighter meat inventories, ethanol signals drove sharp midweek adjustments across farm markets.

Overview

Soybean futures rose 7 to 10 cents on Wednesday with the national cash price near $9.99, while ANEC cut Brazil’s January export estimate to 3.23 MMT, still above last year’s pace.
Corn gained 3 to 4 1/4 cents after EIA reported ethanol output at 1.114 million bpd, down 5,000 bpd, with a 339,000‑barrel stocks draw, and USDA confirmed a 110,000 MT sale to unknown buyers.
Traders are watching Thursday’s export sales after mid‑January saw a 4.01 MMT weekly corn booking, the largest since March 2021, reinforcing the recent demand surge.
Cotton extended its rebound with 45 to 50 points of Wednesday strength after Tuesday’s 71 to 86 point bounce, as ICE certified stocks fell to 8,595 bales.
Livestock stayed firm with live cattle up 70 to 95 cents and feeders up $1.10 to $2.50, while hogs added Tuesday gains as cash prices rose even as the pork cutout eased and December pork stocks remained the lowest for that month since 1997.