Mark's Market Talk for January 5, 2026

Maybe it was a good thing last week was a day short for the trading week. Corn finished the week 12 cents lower, while soybeans lost 27 cents. You can read plenty of commentary on why the markets are where they are, but in the end it appears traders have simply gotten cold feet.

We continue to export corn at a record pace, yet prices have still slipped lower. Funds are only marginally long at this point, and new money has been hard to attract. Soybeans are facing stiff headwinds from large global supplies and cheaper Brazilian beans. Most traders now seem content to sit on their hands and wait for the January WASDE report, due out next Monday. That report will include updated yield and usage estimates and provide new carryout numbers. Spending too much time speculating on the report before it’s released may prove to be wasted effort.

Instead, it’s worth noting some longer-term perspective. Prime Ag recently published year-end market numbers for 2025. Front-month corn finished the year 18 cents lower than where it started, while front-month soybeans were 32 cents higher. Had beans not dropped 98 cents in December, the year-end price story would look much better.

The government also released bridge payout numbers last week. Producers will receive $44.36 per planted corn acre in 2025 and $30.88 per planted soybean acre. Every bit helps, but this won’t make anyone wealthy. For most producers, this money will pass straight through as many continue to struggle to make ends meet. This marks the third straight year in which breaking even has been a challenge for many operations.

Going forward, we’ll all need to stay proactive on both sides of the ledger—managing input costs and making disciplined marketing decisions on the crop.