1. Grain and Soybean Futures Experience Decline
In the overnight trading session, grain and soybean futures saw a decrease as the dollar made a slight recovery, coupled with indications of strong demand for U.S. agricultural goods.
The U.S. dollar index has increased nearly 1% since Thursday, recovering from its previous four-year low.
A stronger dollar can render U.S. supplies less appealing to international buyers, thus the recent uptick in the dollar's value against various global currencies has had an opposite impact.
Since the start of the grains' marketing year, the demand for corn and wheat has remained robust. However, soybean exports have not kept pace with last year's figures, primarily due to a prolonged tariff dispute between the U.S. and China, which concluded with a trade agreement at the end of October.
According to USDA, corn exports since September 1 have reached 32.1 million metric tons, marking a 53% increase compared to the previous year. Wheat shipments since June 1 have been reported at 16.2 million metric tons, reflecting a 21% rise.
In contrast, soybean exports have decreased by 38% year over year, totaling 20.5 million metric tons.
Despite these declines, abundant global supplies continue to exert downward pressure on prices.
For March delivery, corn futures fell by 1 3/4¢ to $4.26 1/2 per bushel, while soybean futures dropped 4 3/4¢ to $10.59 1/2 per bushel. Soy meal saw a slight increase of $1.10 to $294.70 per short ton, whereas soy oil futures declined by 0.45¢ to 53.06¢ per pound.
Wheat futures also fell, decreasing by 4 1/2¢ to $5.33 1/2 per bushel, with Kansas City futures dropping 5 1/4¢ to $5.39 1/2 per bushel.
2. Cattle Inventory Hits Multi-Year Low
As of January 1, the number of cattle and calves in the U.S. has reached its lowest level in decades, as reported by the Agriculture Department.
The total inventory was recorded at 86.2 million head, a slight decrease from 86.5 million at the same time last year.
Cows and heifers that have calved numbered 37.2 million, down from 37.3 million a year prior. Beef cows accounted for 27.6 million head, reflecting a 1% year-on-year decline, while the count of milk cows at the year's start was 9.57 million, up by 2%.
Furthermore, the calf crop has declined by 2% annually, totaling 32.9 million head.
Approximately 24.2 million calves were born in the first half of 2025, a 2% reduction from the previous year, while 8.7 million calves born in the latter half comprised 26% of the U.S. calf population.
As of January 1, there were around 18 million heifers weighing 500 pounds or more, including 4.71 million beef replacement heifers, 3.9 million milk replacement heifers, and 9.4 million other heifers.
Additionally, steers weighing 500 pounds or more totaled 15.6 million head, and bulls of the same weight category were reported at 2.01 million head.
3. Light Snow Forecasted for Parts of the Midwest
The National Weather Service indicates that light snow may fall in northern Iowa tonight into tomorrow morning.
Accumulation is expected to be less than an inch, but it could create slippery road conditions.
Snow is also a possibility in northeastern Nebraska, southern Minnesota, and northern Iowa, accompanied by some freezing drizzle that may cause a thin layer of ice on surfaces.
In northern Illinois, freezing drizzle and mist will pose hazards on the roads this morning, prompting drivers to exercise caution.
