Global Ag News For Feb 27.2026

TOP HEADLINES

USDA Secretary Rollins Says Congress Must Pass Year-Round E15

Agriculture Secretary Brooke Rollins on Thursday said “Congress must do its job” and pass legislation expanding the use of a higher ethanol gasoline known as E15.

• The Trump administration has “gone as far as we can to regulatorily provide emergency E15 waivers,” and now wants to see Congress act on the issue, Rollins said while speaking at the Commodity Classic convention in San Antonio
  • “We are doing everything we can to make sure the message is heard loud and clear on Capitol Hill that there is no excuse, it is time to pass year-round E15,” she said to a crowd where many farmers wore buttons proclaiming “E15 NOW”
• Rollins also said the US will continue to lower the cost of farm inputs
  • She said prices have begun moderating already and that the USDA is forecasting decreases for several inputs, including fertilizer, seeds and fuel
  • Last year, her agency announced that it had signed a memorandum of understanding with the Justice Department to investigate suppliers of crop inputs such as seeds and fertilizers for potential antitrust violations
  • “We have to get to the bottom of this very quickly,” she said Thursday. “That’s why the president called on the Department of Justice to do some significant investigating”
• Meanwhile, Rollins said screwworm remains a “forward moving pest” and her agency has no plans to open ports to livestock from across the border
  • “Every day I get an update and every day I have to make the decision to protect livestock on our side of the border,” she said

 

FUTURES & WEATHER

Wheat prices overnight are up 6 3/4 in SRW, up 8 1/4 in HRW, up 0 in HRS; Corn is up 1 1/4; Soybeans up 4 1/4; Soymeal up $1.20; Soyoil up 0.12.

For the week so far wheat prices are down 2 1/4 in SRW, down 18 in HRW, down 0 in HRS; Corn is up 4 1/4; Soybeans up 14; Soymeal up $8.10; Soyoil up 2.53.

For the month to date wheat prices are up 35 1/4 in SRW, up 15 1/2 in HRW, up 0 in HRS; Corn is up 9; Soybeans up 90 3/4; Soymeal up $24.60; Soyoil up 7.82.

Year-To-Date nearby futures are up 13.8% in SRW, up 7.1% in HRW, up 1.7% in HRS; Corn is down 1.4%; Soybeans up 11.8%; Soymeal up 8.0%; Soyoil up 27.8%.

Chinese Ag futures (MAY 26) Soybeans up 21 yuan; Soymeal down 5; Soyoil up 14; Palm oil down 14; Corn up 3 — Malaysian Palm is up 37.

Malaysian palm oil prices overnight were up 37 ringgit (+0.92%) at 4042.

There were changes in registrations (-43 Soybeans, 334 Soyoil, 75 Soymeal). Registration total: 34 SRW Wheat contracts; 94 Oats; 9 Corn; 258 Soybeans; 1,244 Soyoil; 238 Soymeal; 17 HRW Wheat.

Preliminary changes in futures Open Interest as of February 26 were: SRW Wheat up 425 contracts, HRW Wheat down 1,116, Corn down 19,806, Soybeans up 5,652, Soymeal up 2,672, Soyoil down 5,754.

 

DAILY WEATHER HEADLINES: 27 FEBRUARY 2026

• NORTH AMERICA: Warm temperatures persist across most of the U.S., with heavy precipitation in the Southern Plains and lower Midwest.
• SOUTH AMERICA: Mixed temperatures with wet spells will persist across the northern Pampas corn and soybean regions, while Brazil’s central Center-West turn dry, and heavy rainfall remains confined to the Southeast and Northeast.
• EUROPE: Central and Western Europe will see heat risks over the next 15 days, with dry spells across the region except southern Spain.
• ASIA: Wamrer temperatures are expected across China and India over the next 15 days, with cooler conditions in Southeast. Asia will remain mostly dry, except for brief wet spells in Vietnam and China’s crop‑growing regions.
• AUSTRALIA: Moderate to heavy rains may support crop conditions across Australia’s major production belts, while flood risks remain confined to north Queensland and Victoria.
• AFRICA: Dry weather may favor cocoa harvesting in Ghana, while moderate rains may support for South Africa and Ethiopia crop developments.
• TELECONNECTIONS: The positive Antarctic Oscillation pattern is expected to sustain wet conditions across southeastern Australia into late‑March.

 

Brazil: Rain is going isolated and migrating to northern areas, where it will continue through next week. Dryness farther south will promote rapid fieldwork, but is a problem for newly-planted safrinha corn. Soil moisture is still low overall. Consistent, heavy rainfall needs to continue for the next two months to put the corn in good standing for pollination and grain fill. Currently, the forecast is not favorable for that situation, which will cause problems for corn should this not reverse.

Argentina: Showers have become spotty over the last week, which is forecast to continue into March. This will not be enough to lift areas out of drought in any significant way, and the trend toward lower crop ratings will likely resume. Outside of a few lucky spots, February rainfall has been below-normal like January had been, which is causing concern for both corn and soybean production.

Northern Plains: The region is on the edge of colder air to the north and warmer air to the south this week, causing variable temperatures. Streaks of precipitation are forecast on Saturday, but the region will be on the edge of more active weather next week. Precipitation will be favored to the south, though how widespread it gets for early March is still unknown. With the recent drier trend, the region would love to see some more precipitation before true spring arrives.

Central/Southern Plains: Strong winds and dry soils have led to elevated wildfire conditions as well as falling conditions for winter wheat. The storm track has been busy, but only limited precipitation has fallen, resulting in drought expansion, which is a problem for much of the region. However, the pattern changes next week that will allow for many systems to bring through widespread precipitation for early March. Not all areas will be hit equally, and western areas could still remain drier, but the pattern is more favorable.

Midwest: Streaks of drought, especially from Missouri to northwestern Ohio, are the major issues heading into spring. Quick-hitting systems continue to move across the region through Saturday, which is resulting in streaks of lighter precipitation. However, the pattern starts to change Sunday night as we should see multiple systems bringing widespread precipitation for early March. That would be favorable for increasing soil moisture and reducing drought prior to spring planting.

Delta: Water levels along the Mississippi River are rising despite the ongoing drought in the Delta region. Precipitation farther north in the Midwest is helping to keep river levels from dropping too low. However, this drought is long-standing and an issue prior to spring planting. The pattern changes next week and multiple systems are likely to move through the region with increased rainfall for early March. That should help both with the drought situation, and keeping water levels on the Mississippi River up. However, we may have to watch for some flooding. If this lasts too long into March, we could end up with planting delays.

 

The player sheet for 2/26 had funds: net buyers of 2,000 contracts of SRW wheat, buyers of 7,500 soybeans, sellers of 4,500 soymeal, and buyers of 8,000 soyoil.

TENDERS

• CORN SALE: The U.S. Department of Agriculture confirmed private export sales of 178,000 metric tons of U.S. corn for shipment to Japan. Of that total, 154,000 metric tons are for delivery in the 2026/27 marketing year and 24,000 metric tons are for delivery in the 2027/28 marketing year.
• CORN PURCHASE: Leading South Korean animal feed maker Nonghyup Feed Inc (NOFI) bought an estimated 135,000 metric tons of animal feed corn in an international tender on Thursday, European traders said.
• CORN PURCHASE: Turkish grain board TMO has provisionally bought about 350,000 metric tons of animal feed corn in an international tender on Thursday, European traders said. The purchase is subject to final confirmation in coming days. Initial purchases can be reduced or cancelled completely.
• WHEAT TENDER: Saudi Arabia issued a tender to purchase 655,000 metric tons of wheat, the Saudi state grains buying agency said. The delivery of the wheat is scheduled for the period from May through July, the General Food Security Authority said. The deadline for the submission of price offers is February 27, European traders said. Results were expected on March 2.
• CORN TENDER: South Korea’s Major Feedmill Group (MFG) issued an international tender to purchase up to 210,000 metric tons of animal feed corn, European traders said. The deadline for price offers is February 27.
• FEED BARLEY TENDER: Jordan’s state grains buyer issued an international tender to purchase up to 120,000 metric tons of animal feed barley, European traders said. The deadline for submission of price offers is March 4.

PENDING TENDERS

• WHEAT TENDER: Jordan’s state grain buyer issued an international tender to buy up to 120,000 metric tons of milling wheat which can be sourced from optional origins, European traders said. The deadline for submission of price offers in the tender is March 3.
• RICE TENDER: The state purchasing agency in Mauritius issued an international tender to buy 8,000 metric tons of long-grain white rice sourced from optional origins, European traders said. The deadline for submission of price offers in the tender is March 13.

 

 

 

 

TODAY

US Sold 407.1K Tons of Soybeans Week of Feb. 19; 698K of Corn

USDA releases net export sales report on website for week ending Feb. 19.

• Corn sales fell to 698k tons vs 1,535k in previous week
• All wheat sales rose to 350k tons vs 307k in previous week
• Soybean sales fell to 407k tons vs 864k in previous week

 

US Export Sales of Soy, Corn and Wheat for Week Ending Feb. 19

The following table shows US export sales of soybeans, corn and wheat by biggest net buyers for week ending Feb. 19, according to data on the USDA’s website.

• Top buyer of soybeans: Egypt with 226k tons
• Top buyer of corn: Mexico with 385k tons

 

US Export Sales of Pork and Beef for Week Ending Feb. 19

The following table shows US export sales of pork and beef product by biggest net buyers for week ending Feb. 19, according to data on the USDA’s website.

• Mexico bought 25.6k tons of the 42.6k tons of pork sold in the week
• Japan led in beef purchases

 

US CROP EXPORTS: 178,000 Tons of Corn to Japan

The US Department of Agriculture on Thursday announces export sales activity on its website:

• 178,000 tons of corn to Japan, including 154,000 tons for 2026-27 and 24,000 tons for 2027-28 marketing years.
  • Previous flash sales of corn to Japan took place on Jan. 15 and Jan. 16

 

Argentina Sells 40,000 Tons of Wheat to US: La Nacion

Argentina sold about 40,000 metric tons of wheat to the US in a shipment to Florida driven by competitive pricing, La Nacion reported on Thursday, citing sources.

• Cargo sold by a consortium of exporters; Cargill said to be among them, but company declined to comment to La Nacion
• Wheat priced around $210-$220/ton FOB plus $35-$40 freight and 10%-15% tariff, implying $269.5-$299 delivered, a source told La Nacion
• Destination said to be Ardent Mills plant in Tampa, according to report
• Traders warn deal could be canceled via washout if price dynamics shift: La Nacion

 

Argentina Rains Boost Soybeans and Corn, Grain Exchange Says

Rains have improved moisture support for soybeans on Argentina’s Pampas growing belt, the Buenos Aires Grain Exchange said in a weekly report.

• Soy acreage with optimum or favorable moisture jumped to 73% from 66% last week
• Bourse keeps its soy estimate at 48.5m metric tons
• NOTE: February is a key period for soy plants to receive rains before the harvest starts at the end of March
• Late-planted corn also benefited from the rains
• Corn estimate kept at 57m tons

 

Brazil to raise soy sales to China after record shipments in 2025, consultancy says

Brazil, which is reaping a record soy crop this year, may increase exports of the oilseed to China in 2026 amid lower Argentine shipments and in spite of stronger competition from U.S. farmers, an analyst at Hedgepoint Global Markets said on Thursday.

Last year, lower U.S. soy sales to China allowed Brazil, the world’s largest soybean producer and exporter, to ship 85.4 million metric tons to China, an 18% increase from 2024, according to Brazilian government data.

Though Hedgepoint has not released an exact forecast for Brazilian shipments to China, its bet is that Brazil’s soy sales to China may increase even after President Donald Trump said the world’s biggest importer would buy more beans from U.S. farmers this year.

China is expected to raise imports by 4 million metric tons to 112 million tons in 2026, according to Hedgepoint, creating demand that either Brazil or the U.S. could supply.

“Argentina will export less this year because its crop is smaller,” said Luiz Fernando Roque, a Hedgepoint Global analyst. “That already puts another 4 or 5 million tons in the hands of the Americans or Brazil.”

Regarding Argentina specifically, aside from a smaller projected soy crop, the country tends to focus on domestic processing to make soymeal and oil, Roque said.

In 2025, the U.S. share of China’s soybean imports fell to 15%, from 21% the year before, while Brazil’s rose to 73.6%, up from 71% in 2024, according to Hedgepoint data.

Argentina’s share jumped to 7%, from 4%, according to Chinese government data.

 

Russia hits port infrastructure in Ukraine’s Odesa, deputy PM says

Russia struck port infrastructure overnight in Ukraine’s southern region of Odesa, setting off fires and damaging equipment, warehouses, and food containers, Deputy Prime Minister Oleksiy Kuleba said on Friday.

“The enemy continues to attack maritime logistics,” Kuleba said on the Telegram messaging app. “Despite it, the Ukrainian maritime corridor is operational, handling over 176 million tonnes of cargo, including over 150 million tonnes of grains.”

 

Floods in Major Growing State Dent Malaysia Palm Oil Output

Palm oil output in Sabah is set for a sharp decline this month as heavy rainfall and floods hammer plantations in one of Malaysia’s key producing states, potentially easing a glut that’s weighed on prices for the crop.

Production in February could fall by 15% to 17% from a month earlier, said Prakash Arumugam, chairman of the Malaysian Palm Oil Association’s Sabah branch. Prolonged rain over the past four weeks has triggered frequent flooding across estates, especially in low-lying areas.

“It’s just like a yo-yo,” Prakash said in an interview. “It rains for a few days and it floods, then the water recedes. Then again it rains and floods,” he added. The high water has submerged younger palms, damaged roads and disrupted harvesting and the transportation of palm fruit.

Malaysia is the world’s second-largest palm oil grower. Sabah and Sarawak — both located on the island of Borneo — are the country’s top two producing states, each accounting for about 22% of national output. More than 5,800 people had been evacuated as a result of the flooding in Sabah as of Friday noon local time, according to state news agency Bernama.

Even before the floods, Malaysian production was expected to drop this month as a result of seasonal lows and shorter working days due to holidays. The palm oil association, which represents growers nationwide, estimated earlier this week that national output fell 12% in the first 20 days of February from a month earlier.

This decline was led by double-digit percentage drops in both Sabah and Sarawak, the association said. A steeper decline than expected would cut into Malaysia’s bulging stockpiles and lend support to benchmark palm oil futures in Kuala Lumpur, which have come under pressure on the back of a stronger ringgit and plentiful supplies. Prices are headed for a decline of nearly 5% this month, which would be the biggest since last April.

In the past two weeks, large swathes of Sabah have received rainfall up to 150 millimeters above normal, according to data from the US Climate Prediction Center. Much of Sarawak has seen precipitation up to 100 millimeters above average. A key driver is the position over the region of the Madden-Julian Oscillation — a wave of disturbed weather that enhances rainfall to some areas while suppressing it in others.

Plantations in several areas of Sabah are inundated with water, preventing workers from harvesting fruit, Prakash said. Fruit bunches from young palms have been “totally submerged” while harvesting for taller trees can resume only after the floodwaters have receded fully, he said.

Over the next two weeks, rainfall is set to ease, according to a forecast from the US center. Though some areas may see slightly above-normal precipitation in the early part of next week, the weather will become drier in the week through March 10.

 

Paraguay Trade Group Sees Record First Soy Harvest of 11M Tons

Paraguay could produce more than 11 million metric tons from the first soybean harvest currently underway thanks to good weather, said Hugo Pastore, executive director of grain and oilseed export group Capeco.

• “We are prudently optimistic,” Pastore said in an interview at his office in Asuncion, Paraguay
  • “The developing harvest has shown very interesting yields,” he said
  • Farmers could plant second soybean and corn crops of almost 600,000 hectares and 900,000 hectares, respectively
  • High soy production this year could lead to more soy being processed in Paraguay
• Capeco is mediating between Paraguayan soy producers and Taiwanese importers to resume shipments of the oilseed to Taiwan
  • “We have sold to Taiwan in the past,” Pastore said. “Argentina and Brazil continue to be the main destinations”
• Capeco sees growing production from small farms lifting annual soy and corn output to 15 million and 10 million metric tons, respectively, within five years
  • “Today, more than 20% of the country’s production already comes from small producers. There is still a lot of room for growth,” Pastore said

 

Brazil gets approval to export ground beef to Mexico, soybeans to the Philippines

Brazil’s Agriculture Ministry said on Thursday that the government has concluded sanitary talks allowing the South American nation to export ground beef to Mexico, and soybeans to the Philippines, according to a statement.

 

Bitter Biofuels Spat Has Industry Fuming Over Stalled Policy

A group of US lawmakers has struggled to make significant progress in efforts to expand sales of higher ethanol gasoline, as discord grows between large and small refiners.

The congressional council created in January to find a compromise hasn’t been able to get past arguments within the refining industry on how exemptions for using costly biofuels should work. Their goal was to reach a consensus on legislation by Wednesday, but the deadline passed without a deal.

The agriculture industry has been working for more than a decade to get legislation passed that would allow them to sell so-called E15 gasoline year-round nationwide, and it’s failed every time. That’s left farmers, who have been pressured by low crop prices and high input costs, wondering why this can’t get done.

“If something doesn’t happen here in the next week and the council dissolves, I think there’s people in DC who do not understand the backlash in rural America,” said Monte Shaw, executive director of the Iowa Renewable Fuels Association. “People are hurting out here.”

The backlash is already growing. At Commodity Classic, a major industry conference in San Antonio this week, many attendees sported buttons calling for “E15 NOW.”

“With the lack of work we’re seeing in DC we’ve been ‘Midwest nice’ for too long,” National Corn Growers Association President Jed Bower said at the conference. “We need to be aggressive.”

During the conference’s main event on Thursday, the crowd burst into applause after Agriculture Secretary Brooke Rollins said, “Congress must now do its job and pass nationwide year-round E15 legislation … there is no excuse.”

Biofuel policies are becoming a major focus across the agriculture and oil industries, as delays have left companies unsure of how they will be impacted by lawmakers’ decisions and have weighed on demand for the fuel.

A representative for Stephanie Bice, a House Republican who is a co-chair of the council, declined to comment. A representative for co-chair Randy Feenstra didn’t respond to a request for comment.

The E15 Rural Domestic Energy Council has been working on a proposal that would pair expanding sales for the higher-ethanol gasoline with capping exemptions from annual biofuel-blending standards for smaller refiners. The problem is that refiners can’t agree on how those exemptions should work, holding up the go-ahead for year-round sales of gasoline that contains 15% ethanol.

Existing federal law allows small refineries to be granted exemptions from annual biofuel-blending mandates if they demonstrate “disproportionate economic hardship.” The latest drafted proposal would cap relief at much less than what has been awarded recently, which advocates for small refineries have warned threatens the economics of some fuel-making plants.

Market speculation is that the Trump administration will require big refiners to make up as much as 75% of the blending obligations waived for small refiners.

The American Petroleum Institute said last month it has worked closely with lawmakers and industry players to move forward on year-round E15 and “balanced reforms to the small refinery exemption program.”

But not all refiners agree. A group of small and independent refiners, including Delek US Holdings Inc. and Suncor Energy (USA) Inc., said in a joint statement last week that “API who represents large integrated oil companies does not represent our collective voice nor the voice of the refining sector.” The group called for a deal that doesn’t change how exemptions work.

“To the council’s credit, they’ve been working day and night for the last several weeks to find a solution,” Geoff Cooper, president of the Renewable Fuels Association, said at a conference Wednesday. He said legislation earlier this year had widespread support from agriculture, ethanol, fuel retailers, large oil refiners and many small refiners. “And yet that very small but very vocal faction of well-connected refining companies was able to shut the whole thing down,” he said.

Some farm states are exasperated enough about the lack of progress that they’re considering alternatives. States can individually opt to sell E15 year-round by asking to remove special treatment for gasoline with 10% alcohol. Eight states in the Midwest have been granted approval to do so. Kansas this week said it would consider asking to join those states.

“Year-round E15 is not complicated,” Richard Fordyce, a US Department of Agriculture undersecretary, said at the Commodity Classic on Wednesday. “I just don’t understand why they can’t get that across the finish line.”

 

China Halts Canada Canola Meal Tariffs, Adding to Trade Thaw

China said it would drop tariffs on Canadian rapeseed meal and lobsters, easing disruptions to agricultural trade after Prime Minister Mark Carney’s January visit.

The halt — which also applies to peas and crabs — will take effect from March 1 to Dec. 31, the government said Friday. It comes after Canada pledged to significantly cut import duties on 49,000 Chinese electric vehicles, helping to repair a trade rift that has tested relations between the nations.

However, it remains unclear what level China will lower tariffs to on rapeseed itself, a crop known as canola in Canada. Carney had signaled that duties on the product would be dropped to 15% as of March 1, a significant reduction.

China is willing to work with Canada to “push for the healthy, stable and sustainable development of China-Canada ties,” a Ministry of Commerce spokesperson said in a statement.

The thaw follows a prolonged period of tensions after Canada imposed tariffs on Chinese EVs, steel and aluminum in 2024. That prompted Beijing to respond with 100% duties on Canadian rapeseed oil and meal and start an anti-dumping probe that also led to levies on rapeseed.

Canola futures in New York have climbed in the wake of Carney’s visit, recently reaching the highest since August. Canada is the world’s largest exporter of the oilseed, which is crushed into cooking oil and animal feed, and traders in China had already begun booking cargoes in anticipation of the change.

The disruptions in the rapeseed-meal trade had posed a challenge for China’s fishery sector, as shrimp, crab and carp all feed heavily on the product.

 

French Wheat Condition Worsens as 40 Days of Rain Floods Farms

About 84% of France’s soft-wheat crop was rated in good or very good condition as of Feb. 23, versus 88% the previous week, FranceAgriMer data showed on Friday.

• That’s still higher than at the same time a year earlier when it was 73%
• NOTE: Fields have been flooded in several growing regions this week, following 40 days of continuous rain until Feb. 22, according to Meteo France
• Spring barley was 32% planted, steady from the prior week
• Compares to 51% at this time last year and 44% for the five-year average

 

US RINS WEEKLY REPORT : Soybean Prices Increase

LSEG Research & Insights – Commodities

On February 19th the EPA released its most recent RINs generation data. Last week’s report indicated that approximately 1.68 billion RINs were generated in January of 2026. Of the 1.68 billion RINs generated, roughly 438.19 million were D4 biomass-based diesel. Furthermore, approximately 15.79 million D5 – otherwise known as advanced biofuel RINs were generated last month. D3 cellulosic biofuel RINs continue to develop with nearly 7.6 million generated in the first month of 2026. Indeed, the majority of the 7.6 million D3 RINs were domestically produced cellulosic ethanol – 5.98 million.

In addition to the EPA’s most recent publication, the USDA released a February 19th Grains and Oilseed Outlook. According to the data provided by the Grains and Oilseed Outlook the volume of soybean oil utilized for the production of biofuels is predicted to increase by a margin of 17%. From a fundamental perspective CBOT soybean and soybean oil prices continue to surge. Indeed, CBOT soybean futures set a three month on Wednesday February 25th, consolidating around the $11.62 per bushel mark. This price increase is most likely linked to the expectation that an updated RVO – biofuel blending mandate – will be finalized by the end of March. Moreover, an easing in relations between China and the US – despite renewed tariff discussions- is a bullish indicator for China.

 

US Miss. River Grain Shipments Rise, Barge Rates Decline: USDA

Barge shipments down the Mississippi river increased to 500k tons in the week ending Feb. 21 from 474k tons the previous week, according to the USDA’s weekly grain transportation report.

• Barge shipments of corn rose 6.1% from the previous week
• Soybean shipments little changed from the previous week
• St. Louis barge rates were $24.74 per short ton, a decline of $0.16 from the previous week

 

 

 

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