USDA Report Sparks Record Corn Futures Volume, Resets Prices

The U.S. Department of Agriculture's January WASDE report, released January 12, 2026, triggered a sharp selloff in corn futures, resetting price levels. The report raised U.S. corn production to a record 432.34 million metric tons and increased ending stocks, sparking algorithmic trading that led to the highest daily corn futures volume since March 2019. Trade volume for January 12 hit 1,059,630 contracts on the CME. Noncommercial traders swung to a net-short futures position of 33,423 contracts in the week ending January 13, a shift of 93,535 contracts. The nearby March futures contract (ZCH26) broke support, falling to a low of $4.1725. Despite the bearish report, underlying export demand remains strong, with year-to-date shipments significantly higher than the prior year.