President Trump is scheduled to speak today in Clive, Iowa, with his remarks set to begin at approximately 3:00 p.m. Central Time. The event is part of his ongoing public appearances and is expected to draw attention given current policy, trade, and political developments.
Five House Democrats wrote to Speaker Mike Johnson seeking fair and equal Democratic representation on the newly formed E15 Rural Domestic Energy Council, arguing that a lack of balance would undermine the council’s ability to deliver a durable, bipartisan policy on higher-ethanol gasoline. The letter was signed by Reps. Nikki Budzinski, Sharice Davids, Haley Stevens, Eric Sorensen, and Kristen McDonald Rivet. The request comes after lawmakers failed last week to pass an amendment allowing year-round sales of E15 gasoline as part of a government funding package, a setback for ethanol producers and refiners pushing for expanded E15 access.
U.S. consumer confidence fell sharply in January, with the index coming in at 84.5 versus expectations near 91, marking its weakest reading since 2014. The data, reported by Bloomberg and AFP, points to a significant deterioration in household sentiment, suggesting consumers are increasingly concerned about economic conditions, inflation pressures, and the broader outlook. The unexpectedly weak result reinforces signs of slowing momentum in consumer demand and adds to concerns about growth risks heading into early 2026.
Canada’s prime minister said he explained Canada’s trade arrangement with China directly to President Trump, as the U.S. intensifies scrutiny of allies’ economic ties with Beijing. In comments reported by Dow Jones, he emphasized Canada’s rationale for the relationship amid growing U.S. concerns that China could use partner countries as indirect access points to the American market. The exchange underscores rising trade tensions and reflects the Trump administration’s tougher stance on trade alignment, reciprocity, and enforcement with both rivals and close allies.
Microsoft, Facebook and Tesla are among the many reporting earnings tomorrow.
Corn
S 4000 j 450 c vs b h 430 c ½ cr
S 1000 n 410p/470c strangles 14 5/8
B 200 z27 440 p vs s sd v 450/400 ps 13 ¾ db
S 2000 h 430 c 4 1/2
B 2000 h 425 p 4 7/8 to 5
S 150 j 440 p 7
B 150 j 430 p 6 3/4
S 150 sd m 440/400 ps 6
S 400 z27 500 c 23 ½ vs 468 1/2
S 750 k 460 c 5 ½ to 5 3/8
B 200 n 470 c 10
B 500 z 460 p 30 ½ to 30 3/4
S 400 k 420 p 6 to 5 7/8
S 600 hn -15 cso p 1 1/4
S 250 h 420p/440c strangles 4 ½ cr
S 500 j 425 p 4 7/8
S 1000 h 420 p 3
Beans
S 2500 k 1060 p 16 7/8 to 16 5/8
S 300 k 1070 c 32 1/8
S 300 h 1060 straddles 28
S 500 k 1070 p 20 ½ vs 1089 1/2
B 500 n 1020p/1160c strangle vs 1089 ½ against s 500 h 1040p/1080c strangle vs 1063 ½ paying 13 3/4
S 200 j 1110/1130 cs 4 1/8
S 1250 h 1060 p 9 ¼ to 9 1/8 vs 1068 3/4
B 250 h 1040 p 4 1/8
B 100 k 1080 straddle 52 1/4
B 1000 w5 1040 p 1/2
S 300 u 1070 p vs 1074 ½ against b k 1070 p 1075 ¾ collecting 21
B 1000 k 1060 p 17 ¼ vs 1079 1/2
B 1000 k 1120 c 11 3/4
S 300 k 1070/1010 ps 17 1/8 to 17
B 2250 h 1050/1040 ps 2 5/8
B 1400 k 1050/1070 cs 12 to 12 1/8
Soymeal
B 500 w5 295/300/305/315 call condor 1.20 db
B 400 j 300 c 7.30 vs 298.5
B 200 h 310 c 1.35 vs 294.0
S 1250 h 300/315 cs 2.40 to 2.30
S 200 sd h 320c, sd k 320 c, sd n 320 c, sd u 330 c and sd v 330 c collecting 30.50 covered vs 310.0
Bean oil
B 1300 n 56 c vs s 5150 p 1.575 vs 5526
B 1000 k 57/62 cs vs s 52 p .350 db vs 5490
B 350 h 56 c .845 vs 5437
B 400 h 56/60 cs vs s 51 p .385 db vs 5438
S 1000 k 55/5750 cs .885 to .880 vs 5490
S 200 h 5450/58 cs 1.000
S 750 h 52 p .470
B 150 n 58 c 2.805 vs 5529
B 1000 h 52 p .515 to .525
S 1000 h 59/61 cs .140
B 100 n 52/56 cs 1.885
On a block
S 200 k 54 p 2.490 vs 5481
Wheat
S 500 h 540 c 5 ¼ vs 522 3/4
S 1000 h 540 c 5 ¾ to 5 1/8
S 500 h 530 c 8 3/8 vs 523
S 1000 u 550 c 14 3/8 vs 560
S 1000 h 530 c 9 ½ to 8 1/4
B 200 h 480 p 5/8
B 300 h 520 p 7 5/8
B 800 h 525 c 9 7/8 vs 522 1/2
B 1000 h 570 c 1 ¼ to 1 3/8
S 150 h 520p/530c strangles 17
B 600 j 575 c 6 3/8
S 750 h 530 c 8 ¼ to 8
B 300 h 515 p 6 7/8
Kc wheat
B 200 u 1200 c 1 1/4
B 225 k 600 c 7 5/8 to 7 3/4
B 1000 k 520 p vs s k 580 c 1 ¼ to 3 db
S 300 h 540 c 8 ¼ to 8 1/8
S 250 n 500 p 9 ½ vs 555 1/2
Ethanol
B 75 g 165 p vs s g 170 c 4.50 to 4.75
| Corn | | | | | | | | | | |
| Month | Futures | Change | Strike | Implied Vol | Change in IV | Futures Range | Implied BE | Realized BE | 20D Historic Vol | Days to Exp |
| C H6 | 426.50 | -1.75 | 425 | 13.1 | -0.60 | 3.75 | 3.52 | 6.39 | 23.79 | 24 |
| C J6 | 434.75 | -1.25 | 435 | 13.1 | -0.60 | 3.50 | 3.59 | 6.11 | 22.31 | 59 |
| C K6 | 434.75 | -1.25 | 435 | 14.8 | -0.50 | 3.50 | 4.05 | 6.11 | 22.31 | 87 |
| C M6 | 440.75 | -1.25 | 440 | 15.2 | -1.30 | 3.50 | 4.22 | 5.84 | 21.05 | 115 |
| C N6 | 440.75 | -1.25 | 440 | 16.6 | -0.40 | 3.50 | 4.61 | 5.84 | 21.05 | 150 |
| C U6 | 440.25 | -1.00 | 440 | 18.7 | -0.50 | 3.00 | 5.19 | 4.23 | 15.24 | 206 |
| Beans | | | | | | | | | | |
| Month | Futures | Change | Strike | Implied Vol | Change in IV | Futures Range | Implied BE | Realized BE | 20D Historic Vol | Days to Exp |
| S H6 | 1067.25 | 5.50 | 1070 | 11.8 | -1.00 | 11.00 | 7.93 | 8.87 | 13.19 | 24 |
| S J6 | 1079.50 | 5.50 | 1080 | 11.6 | -0.50 | 11.25 | 7.89 | 8.44 | 12.41 | 59 |
| S K6 | 1079.50 | 5.50 | 1080 | 12.4 | -0.30 | 11.25 | 8.43 | 8.44 | 12.41 | 87 |
| S M6 | 1092.50 | 5.00 | 1090 | 12.6 | -0.90 | 10.50 | 8.67 | 7.92 | 11.50 | 115 |
| S N6 | 1092.50 | 5.00 | 1090 | 13.4 | -0.20 | 10.50 | 9.22 | 7.92 | 11.50 | 150 |
| SRW Wheat | | | | | | | | | | |
| Month | Futures | Change | Strike | Implied Vol | Change in IV | Futures Range | Implied BE | Realized BE | 20D Historic Vol | Days to Exp |
| W H6 | 523.25 | 0.75 | 525 | 20.4 | -2.00 | 6.25 | 6.72 | 5.85 | 17.76 | 24 |
| W J6 | 532.75 | 0.00 | 535 | 21.5 | -1.10 | 6.00 | 7.22 | 5.42 | 16.15 | 59 |
| W K6 | 532.75 | 0.00 | 535 | 22.0 | -1.10 | 6.00 | 7.38 | 5.42 | 16.15 | 87 |
| W M6 | 544.00 | -1.25 | 545 | 22.7 | -2.20 | 5.25 | 7.78 | 5.17 | 15.08 | 115 |
| W N6 | 544.00 | -1.25 | 545 | 24.0 | -1.00 | 5.25 | 8.22 | 5.17 | 15.08 | 150 |
| HRW Wheat | | | | | | | | | | |
| Month | Futures | Change | Strike | Implied Vol | Change in IV | Futures Range | Implied BE | Realized BE | 20D Historic Vol | Days to Exp |
| KWH6 | 532.75 | 3.00 | 535 | 21.1 | -1.90 | 7.75 | 7.08 | 6.97 | 20.75 | 24 |
| KWJ6 | 542.75 | 2.25 | 545 | 22.2 | -1.20 | 7.50 | 7.59 | 6.67 | 19.50 | 59 |
| KWK6 | 542.75 | 2.25 | 545 | 22.6 | -1.00 | 7.50 | 7.73 | 6.67 | 19.50 | 87 |
| KWN6 | 555.00 | 1.50 | 555 | 23.9 | -1.00 | 7.00 | 8.36 | 6.52 | 18.64 | 150 |
| KWU6 | 569.75 | 1.00 | 570 | 24.5 | -0.80 | 7.00 | 8.79 | 6.40 | 17.84 | 206 |
| Bean Oil | | | | | | | | | | |
| Month | Futures | Change | Strike | Implied Vol | Change in IV | Futures Range | Implied BE | Realized BE | 20D Historic Vol | Days to Exp |
| BOH6 | 54.41 | 0.52 | 54.5 | 26.2 | 0.40 | 1.18 | 0.90 | 0.73 | 21.41 | 24 |
| BOJ6 | 54.95 | 0.53 | 55 | 28.1 | 2.30 | 1.15 | 0.97 | 0.72 | 20.82 | 59 |
| BOK6 | 54.95 | 0.53 | 55 | 28.5 | 0.00 | 1.15 | 0.99 | 0.72 | 20.82 | 87 |
| BON6 | 55.28 | 0.51 | 55.5 | 27.5 | 0.30 | 1.15 | 0.96 | 0.69 | 19.92 | 150 |
| Meal | | | | | | | | | | |
| Month | Futures | Change | Strike | Implied Vol | Change in IV | Futures Range | Implied BE | Realized BE | 20D Historic Vol | Days to Exp |
| SMH6 | 294.00 | -0.30 | 295 | 16.4 | -3.90 | 2.30 | 3.04 | 3.53 | 19.05 | 24 |
| SMJ6 | 298.00 | 0.10 | 300 | 16.3 | -4.00 | 2.30 | 3.06 | 3.28 | 17.49 | 59 |
| SMK6 | 298.00 | 0.10 | 300 | 16.4 | -1.70 | 2.30 | 3.08 | 3.28 | 17.49 | 87 |
| SMN6 | 303.10 | 0.10 | 305 | 16.9 | -1.10 | 2.10 | 3.23 | 3.07 | 16.10 | 150 |
sources
news Bloomberg
options data globex
data bloomberg
This material should be construed as the solicitation of an account, order, and/or services and represents the opinions and viewpoints of the individual authors or presenters. It does not constitute an individualized recommendation or take into account the particular trading objectives, financial situations, or needs of individual customers.
The views are current only through the date stated and are subject to change at any time based upon market or other conditions, and StoneX Group Inc. (“SGI”) disclaims any responsibility to update such views. Actual results, performance, or achievements may differ materially from those expressed or implied. Information is based on data gathered from what we believe are reliable sources. Past performance does not guarantee future results.
The StoneX Group Inc. group of companies provides financial services worldwide through its subsidiaries, including physical commodities, securities, exchange-traded and over-the-counter derivatives, risk management, global payments and foreign exchange products in accordance with applicable law in the jurisdictions where services are provided.
References to certain OTC products or swaps are made on behalf of StoneX Markets, LLC (SXM), a member of the National Futures Association (NFA) and provisionally registered with the U.S. Commodity Futures Trading Commission (CFTC) as a swap dealer. SXM’s products are designed only for individuals or firms who qualify under CFTC rules as an ‘Eligible Contract Participant’ and who have been accepted as customers of SXM.
StoneX Financial Inc. (SFI) is a member of FINRA/NFA/SIPC and registered with the MSRB. SFI is registered with the U.S. Securities and Exchange Commission (SEC) as a Broker-Dealer and with the CFTC as a Futures Commission Merchant and Commodity Trading Advisor. StoneX Financial (Canada) Inc. (SFCI) is registered in Canada and is a member of CIRO and CIPF. References to certain securities trading are made on behalf of the BD Division of SFI and are intended only for an audience of institutional clients as defined by FINRA Rule 4512(c). References to certain exchange-traded futures and options are made on behalf of the FCM Division of SFI. Wealth Management is offered through SA Stone Wealth Management Inc., member FINRA/SIPC, and SA Stone Investment Advisors Inc., an SEC-registered investment advisor, both wholly owned subsidiaries of SGI.
R.J. O’Brien & Associates, LLC (RJO) is registered with the CFTC as a Futures Commission Merchant and is a member of NFA.
StoneX Financial Ltd (SFL) is registered in England and Wales, company no. 5616586. SFL is authorized and regulated by the Financial Conduct Authority (FCA) (registration number FRN:446717) to provide services to professional and eligible customers including: arrangement, execution and, where required, clearing derivative transactions in exchange traded futures and options. SFL is also authorized to engage in the arrangement and execution of transactions in certain OTC products, certain securities trading, precious metals trading and payment services to eligible customers. SFL is authorized and regulated by the FCA under the Payment Services Regulations 2017 for the provision of payment services. SFL is a category 1 ring-dealing member of the London Metal Exchange. In addition SFL also engages in other physically delivered commodities business and other general business activities which are unregulated and not required to be authorized by the FCA.
This communication is issued in the European Economic Area by StoneX Financial Europe GmbH (SFEG). StoneX is the trade name used by STONEX GROUP INC. and all its associated entities and subsidiaries. StoneX Financial Europe GmbH (“SFEG”) is a securities trading firm registered in Germany under Company No. HRB 80844.
StoneX Financial Pte Ltd (Co. Reg. No 201130598R) (“SFP”) is regulated by the Monetary Authority of Singapore and is a Capital Markets Service Licence holder (for dealing in capital market products), an Exempt Financial Adviser (for advising on investment products and issuing or promulgating analyses/ reports on investment products) and a Major Payment Institution (for domestic and cross-border money transfer services).
SFP may distribute analysis/report produced by its respective foreign affiliates within the StoneX Group of companies pursuant to an arrangement under Regulation 32C of the Financial Advisers Regulations Recipients should contact SFP at (65) 6309 1000 for any matters arising from, or in connection with, this webinar.
StoneX APAC Pte. Ltd. (“SAP”) (Co. Reg. No 200616676W) is regulated as a Dealer (PS20190001002) under the Precious Stones and Precious Metals (Prevention of Money Laundering and Terrorism Financing) Act 2019 for purposes of anti-money laundering and countering the financing of terrorism.
StoneX Financial (HK) Limited (CE No.: BCQ152) (“SHK”) is regulated by the Hong Kong Securities and Futures Commission for Dealing in Securities and Dealing in Futures Contracts.
StoneX Financial Pty Ltd (ACN 141 774 727) holds an Australian Financial Service License (AFSL: 345646) for Dealing in Securities, Exchange-Traded Derivatives Contracts, OTC Derivatives Contracts and Foreign Exchange Contracts, and is regulated by the Australian Securities and Investments Commission.
StoneX Securities Co., Ltd. (“SSJ”) (Co. Reg. No 010401047199) is regulated by the Japanese Financial Services Agency as a Type-I Financial Instruments Business Operator (Kanto Local Finance Bureau (FIBO)No.291’), is a member of the Financial Futures Association of Japan for dealing and broking FX and FX Option transactions, and is a member of the Japan Securities Dealers Association for dealing and broking stock indices and option transactions.
Trading swaps and over-the-counter derivatives, exchange-traded derivatives and options and securities involves substantial risk and is not suitable for all investors. Past performance of any futures or option is not indicative of future success. Indicators are not a trading system and are not published as a specific trade recommendation. The information herein is not a recommendation to trade nor investment research or an offer to buy or sell any derivative or security. It does not take into account your particular investment objectives, financial situation or needs and does not create a binding obligation on any of the StoneX group of companies to enter into any transaction with you. You are advised to perform an independent investigation of any transaction to determine whether any transaction is suitable for you. No part of this material may be copied, photocopied or duplicated in any form by any means or redistributed without the prior written consent of StoneX Group Inc.
The report/analysis herein is not directed to, or intended for distribution to or use by, any person or entity who is a citizen or resident of or located in any locality, state, country or other jurisdiction where such distribution, publication, availability or use would be contrary to law or regulation.
© 2026 StoneX Group Inc. All Rights Reserved.
