Weekly Market Update 1/22/2026

Here is your weekly market update from the Garden City Co-op Grain Origination Team.

Trivia

1. What kind of animal is Punxsutawney Phil?

2. Where did the 2000 Summer Olympics take place?

Answers at the bottom.

Market News

GREENLAND AGREEMENT: President Donald Trump said today he had secured total and permanent U.S access to Greenland. The deal emerged after Trump scaled back his tariff threats and ruled out the possibility of taking Greenland by force. A framework agreement for Greenland, which is still being finalized, appears to grant the United States full access to the territory, with a NATO presence to develop its Golden Dome defense system. This system would enable the placement of missiles in Greenland, enhancing protection for both Europe and the United States against potential threats from Russia and China. Additionally, the agreement reportedly includes provisions that prevent China from mining rare earth minerals in Greenland. Notably, there were few discussions about the sovereignty of the world's largest island; the primary focus was on securing access to the Golden Dome defense system and blocking China from accessing the rare earth minerals there.

INTEREST RATE MARKET UPDATE: Job reports in December were anything but pretty as payrolls were +50,000, but below the expectation of 70,000. Job growth in Healthcare and Hospitality have increased but was not enough to offset the losses in Trade and Transportation. The unemployment rate improved from 4.6% to 4.4%, making the payroll not seem quite so bad. Inflation was down about 0.02% with the Headline CPI remaining unchanged, while Core CPI increased 0.2%, which was relatively unexpected. All things considered, odds of a January rate cut are near 0, but there is speculation of a near-immediate cut when the new Chairman is confirmed.

EXPORT INSPECTIONS: With Martin Luther King Jr. Day on Monday, exports sales are set to be released at 7:30am CST on Friday, January 23^rd. Current week corn export inspections totaled 58.4 million bushels – 3.3 million bushels above upper-end trade estimates. Corn exports have shown signs of beginning to level off, total export inspections down 1.3% from last week. For the 25/26 marketing year, exports are up 55% when compared to 24/25. Soybean export inspections for the week were reported at 49.1 million bushels. China has now purchased enough cargoes of US soybeans to meet their 12 MMT commitment. Current week wheat export inspections totaled 14.4 million bushels – sitting on the upper-end of trade estimates. Milo export inspections totaled 6.9 million bushels, 16% below year-to-date inspections relative to the seasonal pace needed to reach USDA targets.



WEATHER: Skies today are mostly sunny with a high of 45°F before the bitter cold of the weekend sneaks in. Lows tonight are around 9°F with windchill values as low as 1°F. Friday brings a high of 12°F before noon, then continuing to fall with wind chill values as low as       -13. Snow is expected after noon; estimates show accumulation around 1 inch. Snow showers will continue through Friday night with the potential to be mixed with freezing rain, with a low of -1°F. Snow chances continue through Saturday at 90% with highs near 11°F. Snow is expected Saturday night before midnight, then decreasing to 20% by noon Sunday. Some charts are predicting 50-70% chances of total accumulation of 6 inches. Highs Sunday reach 23°F before falling back into the negatives overnight. Early next week looks somewhat warmer with highs in the mid-30s and lows near 10°F.
 

Trivia Answers

1. A groundhog

2. Sydney, Australia