By Kirk Maltais


--Wheat for March delivery rose 1.5%, to $5.17 3/4 a bushel, on the Chicago Board of Trade on Friday, with the selling stemming from Monday's WASDE report leading to lower prices that piqued the interest of global importers.

--Corn for March delivery rose 1.1%, to $4.25 1/4 a bushel.

--Soybeans for March delivery rose 0.3%, to $10.56 1/2 a bushel.


HIGHLIGHTS


Buying Opportunity: After Monday's WASDE showed higher supplies for U.S. grains, countries that buy U.S. agricultural exports stepped up their purchasing to take advantage of the CBOT's post-WASDE plunge. "Grain markets continue to recuperate from bargain-basement post-USDA lows," said Matt Zeller of StoneX in a note.

Hibernating for the Winter: U.S. winter wheat crops in the central plains are entering their typical dormancy period, and are doing so without much in the way of protective snow cover, said Brian Hoops of Midwest Market Solutions. This, said Hoops, is another reason behind wheat's strong showing in trading Friday. Temperatures are expected to get bitterly cold in the coming weeks, which could result in damage from freezing amid absent snow cover.


INSIGHT


Waiting for Prime Time: What agricultural futures do in the coming weeks may hinge largely on weather in the run-up to spring planting in the U.S. "Recoveries were anticipated amid oversold chart patterns, but it's Mother Nature that determines the health of major crop balance sheets in 2026," said AgResource in a note. As of now, weather conditions are expected to be stable through the rest of the winter, so high supplies may get planted and grow unabated this spring.

Limited Risk: Geopolitical oil risk premium is likely to remain capped as global oil oversupply is enough to absorb any possible disruptions in Iran, while potential short-term supply increases from Venezuela are likely to be small, Fitch Ratings said in a report. Fitch forecasts global supply will increase by 2.5 million barrels a day this year after rising by an estimated 3 million barrels a day in 2025, with demand up by about 800,000 barrels a day. For grains, lower oil prices may translate to lower prices for biofuels, and in turn the feedstocks behind those biofuels.


AHEAD


--The USDA and CME will be closed in observance of Martin Luther King Jr. Day on Monday, with both reopening on Tuesday.

--The USDA will release its weekly Grain Export Inspections report at 11 a.m. ET Tuesday.

--The EIA will release its Weekly Petroleum Status Update report at 10:30 a.m. ET Thursday.

--The USDA will release its monthly Livestock Slaughter report at 3 p.m. ET Thursday.


--Anthony Harrup contributed to this article


Write to Kirk Maltais at kirk.maltais@wsj.com


(END) Dow Jones Newswires

01-16-26 1522ET