1. Soybean, Grain Futures Higher in Overnight Trading

Soybean and grain futures experienced a rise in overnight trading, attributed to ongoing demand for U.S. agricultural products and a weaker dollar.

A recent USDA report indicated that the Philippines purchased 190,000 metric tons of soymeal destined for the 2025/2026 marketing year. This follows consistent sales announced in the previous week, which included commodities such as soybeans, corn, and wheat to various countries, prominently China, the world’s largest importer of oilseeds.

Since the beginning of the marketing year on September 1, corn exports have reached approximately 29 million metric tons, a remarkable 60% increase year over year. Similarly, wheat shipments since the grain’s marketing season began on June 1 have surged by 22%, totaling 15.5 million metric tons.

However, soybean exports remain hindered due to the tariff war that persisted until the end of October, showing a year-over-year decline of 42% to about 18 million metric tons, according to USDA data.

A weaker dollar, which has been on a downward trend since the beginning of the trading week, has also supported higher price levels. This decline is related to rising global trade tensions.

In early trading, soybean futures for March delivery surged by 10½ cents, reaching $10.63½ per bushel on the Chicago Board of Trade, while soy meal and soy oil saw similar gains. Corn futures also saw an uptick, climbing 2½ cents to $4.26¼ per bushel. Wheat futures followed suit, gaining 3½ cents to $5.13¾ per bushel.

2. December Egg Production Rises Modestly Year-Over-Year

In December, the overall egg production in the United States recorded a slight year-over-year increase, as reported by the Agriculture Department. The total production for the month reached 9.125 million eggs, a modest rise from 9.116 million a year earlier.

Of this total, 7.818 million were categorized as table eggs, with the remainder being hatching eggs. The average number of egg layers was approximately 371.6 million, which is a decrease from 373.1 million in the previous year. Notably, 309 million were responsible for producing table eggs.

Production per layer in December amounted to 2,456 eggs, indicating a slight year-on-year increase. Additionally, about 52.7 million egg-type chicks hatched in December, up 3% from a year ago, while eggs in incubators on January 1 increased by 1% to 53.1 million.

Conversely, placements of egg-type pullets rose by only 1% to 218,000. For broiler types, hatchings reached 890 million, reflecting a year-over-year increase of 1%, but placements of broiler-type pullet chicks for future hatchery flocks witnessed a 4% decline to 8.82 million.

3. Winter Storms Forecast for Much of the Central U.S.

This morning, weather maps reveal forecasts of winter storms affecting much of the central United States, as reported by the National Weather Service. Advisories for winter weather and extreme cold warnings have been issued from North Dakota down to Iowa and extending eastward into Michigan.

Specifically, an inch of snow and wind gusts up to 55 mph are expected in eastern South Dakota, posing hazardous travel conditions due to rapidly reduced visibility. Northern Illinois is anticipating wind chills plummeting to around -38°F, with extreme cold watches scheduled to begin tomorrow and lasting through the weekend.

In the southern Plains, winter storm watches are set to commence Friday afternoon, with forecasts predicting up to 10 inches of snow in regions of Oklahoma and Texas. The agency warns of very cold wind chills, which could lead to dangerously low temperatures over the weekend.