On Thursday, January 22, 2026, U.S. grain markets closed higher, led by corn and soybean futures, which responded to surging export optimism and USDA expectations, while winter wheat posted moderate gains, buoyed by technical momentum and looming weather-related risks across the Midwest.

Corn and soybean futures ended Thursday in positive territory as traders reacted to export sales speculation and firm overseas demand ahead of the USDA's weekly report, due Friday. Analysts anticipate as much as 122 million bushels of corn export sales for the week ending January 15.

Soybean prices edged higher after a flash export sale was announced Thursday morning, helping maintain support above the $12 threshold. Meanwhile, winter wheat contracts registered mixed but mostly positive movement, with Chicago futures climbing as much as 1.5% in some positions due to improved short-term buying interest and market recalibration.

U.S. Ethanol production, while down from recent highs, remains at relatively strong levels, continuing to support domestic corn demand, especially as farmers look to ethanol as a price stabilizer amid broader input cost concerns.

Grain Futures Close - January 22, 2026 (CBOT):

A massive winter storm system is expected to move across the U.S., from Texas to the Northeast, bringing up to 12 inches of snow or more in some regions. This has added volatility to grain and feed markets, as traders weigh the risks of transport disruptions and delayed shipments - especially for winter wheat and ethanol-bound corn.

Weekly ethanol output dipped slightly but remains robust, helping support corn pricing structures. Ethanol remains a key pillar of demand, particularly during seasons with export-driven momentum.

Despite ongoing tensions over Trump-era tariffs, recent export activity and improved sales volumes have reassured grain markets temporarily. Traders remain watchful of upcoming USDA confirmations and evolving trade negotiations heading into February.