Global Ag News For March 24.2026

TOP HEADLINES

Australia to Plant Less Wheat as Global Fertilizer Woes Deepen

Wheat farmers in Australia — one of the world’s biggest agricultural exporters — are paring back plantings as concerns over fertilizer supplies mount, the latest sign of how the war in Iran is disrupting operations on farms around the world.

Wheat is a nitrogen-intensive crop, with fertilizer use among the key factors for yields. With exports through the Strait of Hormuz largely stalled, crop nutrients worldwide are quickly becoming pricier and harder to find.

That comes on top of weak wheat prices and ample global supply, which were frustrating farmers before the conflict began. Australia’s winter plantings are set to begin within weeks, and farmers are weighing sowing less of the grain and more oilseeds and pulses in hopes of better returns.

“Basically they will just cut wheat and replace for everything else,” including lentils, canola and barley, said Vitor Pistoia, a senior grains and oilseeds analyst at Rabobank.

That includes Arthur Gearon, who farms in the eastern state of Queensland. He said he usually would split the fields he devotes to winter crops evenly between wheat and chickpeas. This year, with fertilizer scarce and expensive, he plans to avoid using urea and reduce wheat to just 20% of his overall plantings.

“Wheat prices are terrible as there is a global glut,” Gearon said. “Other crops have greater upside.”

Australia exports wheat primarily to Southeast Asia, the Middle East and China. The country posted its third-largest wheat crop last season, aggravating concerns over excess supply.

But farmers have grown increasingly concerned over access to diesel fuel and fertilizer following the US-Israeli attacks on Iran, with Australia heavily reliant on trade through the Strait of Hormuz for both commodities. The difficulties have sparked a government review into the country’s food security, with Agriculture Minister Julie Collins announcing a national supply chain assessment on Monday.

On a recent tour of South Australia, Pistoia said there was a growing unease among cropping farmers over access to crucial inputs, with many mulling changes to their upcoming plantings. Pulses such as lentils are attractive as they don’t require as much fertilizer, and farmers are also turning toward crops like canola that fetch better prices than wheat.

Australia usually harvests winter crops near the end of the year, meaning the planting decisions farmers make now could weigh on global supply into 2027. December wheat futures in Chicago — a global benchmark — have gained slightly since the war in Iran began, while the May contract is little changed, which could signal traders expect supply to tighten later in the year.

Pistoia said that while most farmers had received a portion of their fertilizer for the winter crop, many hadn’t acquired all of it before the disruptions began. “The Strait must be opened by late April to get fertilizer on time and have no significant impact on yields,” he said.

 

FUTURES & WEATHER

Wheat prices overnight are up 1 1/4 in SRW, up 2 1/4 in HRW, up 0 in HRS; Corn is up 1 3/4; Soybeans down 3 1/2; Soymeal up $0.40; Soyoil down 0.35.

For the week so far wheat prices are down 6 1/4 in SRW, down 3/4 in HRW, up 0 in HRS; Corn is down 4 1/4; Soybeans down 1 1/4; Soymeal down $1.20; Soyoil down 0.28.

For the month to date wheat prices are down 2 1/2 in SRW, up 25 in HRW, up 1/5 in HRS; Corn is up 12 3/4; Soybeans down 10 3/4; Soymeal up $6.50; Soyoil up 3.38.

Year-To-Date nearby futures are up 16.2% in SRW, up 17.6% in HRW, up 9.9% in HRS; Corn is up 4.8%; Soybeans up 12.6%; Soymeal up 11.0%; Soyoil up 35.7%.

Chinese Ag futures (MAY 26) Soybeans down 64 yuan; Soymeal down 32; Soyoil down 70; Palm oil down 142; Corn down 7 — Malaysian Palm is down 72.

Malaysian palm oil prices overnight were down 72 ringgit (-1.56%) at 4539.

There were no changes in registrations. Registration total: 34 SRW Wheat contracts; 94 Oats; 641 Corn; 523 Soybeans; 1,536 Soyoil; 213 Soymeal; 108 HRW Wheat.

Preliminary changes in futures Open Interest as of March 23 were: SRW Wheat down 1,680 contracts, HRW Wheat down 3,526, Corn down 3,391, Soybeans down 1,630, Soymeal up 5,411, Soyoil up 666.

 

DAILY WEATHER HEADLINES: 24 MARCH 2026

• NORTH AMERICA: Warm temperatures continue across much of the U.S., while wet conditions persist in the Southern Plains and the Northwest’s winter wheat areas.
• SOUTH AMERICA: Warm temperatures with wet spells will persist across the southern Pampas corn and soybean regions, while Brazil’s Southeast turn dry, and wet spells remains confined to the Center West, South and Northeast.
• EUROPE: Central Europe will see near normal to cooler temperatures over the next 15 days, with wet spells across Germany, eastern France, and Poland.
• ASIA: Asia will remain mostly dry, except for brief wet spells in the central and northern wheat‑growing regions of China.
• AFRICA: Wet spells are likely to favor cocoa development in Ghana and Ivory Coast and support Ethiopia’s coffee crop, whereas continued rains may delay corn harvest progress in South Africa.
• TELECONNECTIONS: MJO Phase 8 is forecast to bring wet conditions across South America and Africa through first half of April.

 

Brazil – Rio Grande do Sul and Parana: Isolated to scattered showers through Friday. Temperatures above normal through Friday.

Brazil – Mato Grosso, MGDS and southern Goias: Isolated to scattered showers through Friday. Temperatures near normal through Friday.

Argentina – Cordoba, Santa Fe, Northern Buenos Aires: Mostly dry through Thursday. Isolated showers Friday. Temperatures below normal through Wednesday, near normal Thursday-Friday.

Argentina – La Pampa, Southern Buenos Aires: Mostly dry through Friday. Temperatures below normal through Wednesday, near normal Thursday-Friday.

Northern Plains: Mostly dry Monday-Tuesday. Isolated showers Wednesday-Thursday. Mostly dry Friday. Temperatures above to well above normal through Wednesday, near to below normal Thursday-Friday. Outlook: Mostly dry Saturday-Sunday. Isolated to scattered showers Monday-Wednesday. Temperatures above normal Saturday-Wednesday.

Central/Southern Plains: Mostly dry through Friday. Temperatures near to above normal Monday, above to well above normal Tuesday-Thursday, near to below normal Friday. Outlook: Mostly dry Saturday-Sunday. Isolated to scattered showers Monday-Wednesday. Temperatures near to above normal Saturday, above to well above normal Sunday-Wednesday. Pacific Northwest Highlights… Mostly dry. Temperatures near to above normal. 

Midwest – West: Mostly dry through Wednesday. Isolated showers Thursday, south Friday. Temperatures near to above normal Monday, above normal Tuesday-Thursday, below normal Friday.

Midwest – East: Mostly dry Monday-Tuesday. Isolated to scattered showers Wednesday night-Thursday. Mostly dry Friday. Temperatures near to below normal Monday, near to above normal Tuesday, above normal Wednesday-Thursday, below normal Friday. Outlook: Mostly dry Saturday-Monday. Isolated to scattered showers Tuesday-Wednesday. Temperatures near normal Saturday, above to well above normal Sunday-Wednesday.

 

The player sheet for 3/23 had funds: net sellers of 4,500 contracts of SRW wheat, sellers of 14,000 corn, sellers of 3,000 soybeans, buyers of 3,000 soymeal, and buyers of 5,000 soyoil.

TENDERS

• SOYBEAN SALES: The U.S. Department of Agriculture confirmed private sales of 161,120 metric tons of U.S. soybeans for delivery to Mexico in the 2025/26 marketing year that began September 1, 2025.
• CORN SALES: The USDA also confirmed private sales of 102,000 tons for U.S. corn to Mexico for 2025/26 delivery.

PENDING TENDERS

• RICE TENDER: South Korea’s state-backed Agro-Fisheries & Food Trade Corp issued an international tender to purchase an estimated 74,382 metric tons of rice, European traders said. The deadline for submissions of price offers was March 11.
• 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 was March 13.
• 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 24.
• 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 in the tender is March 25.

 

 

TODAY

US Inspected 1.7m Tons of Corn for Export, 1.102m of Soybeans

In week ending March 19, according to the USDA’s weekly inspections report.

• Wheat: 458k tons vs 344k the previous wk, 485k a yr ago
• Soybeans: 1,102k tons vs 981k the previous wk, 834k a yr ago
• Corn: 1,700k tons vs 1,671k the previous wk, 1,548k a yr ago

 

US Corn, Soybean, Wheat Inspections by Country: March 19

Following is a summary of USDA inspections for week ending March 19 of corn, soybeans and wheat for export, from the Grain Inspection, Packers and Stockyards Administration, known as GIPSA.

• Soybeans for China-bound shipments made up 665k tons of the 1.1m total inspected
• Mexico was the top destination for corn inspections, and also led in wheat

 

US Winter Wheat Crop Conditions by State for March 22: USDA

The following shows the most current winter wheat conditions for selected states as of March 22, according to the USDA’s state crop progress and conditions reports.

• Kansas conditions declined 6 percentage points to 46% good/excellent in the week ending March 22
• Oklahoma conditions fell to 14% good/excellent from 18%

 

EPA Is in Final Stages of Releasing Biofuels Decision: Zeldin

The EPA is considering all stakeholder feedback as it works to get out blending mandates for biofuels, administrator Lee Zeldin said.

• The agency is in the final stages of getting the so-called Renewable Fuel Standard ready for publishing, Zeldin said at an Agri-Pulse conference in Washington, DC Monday
  • “We want to get it right”
• The decision will be done by the end of the month, he said.
• A lack of clarity on blending mandates, which have repeatedly been delayed, has weighed on the agriculture and biofuel industries
  • Increased use of renewable fuels is expected to boost demand for feedstocks like corn and soybeans

 

China and Brazil Agree to Ease Soybean Sanitary Requirements

Chinese and Brazilian authorities came to an agreement that will likely bring relief to the trade of soybeans between both countries, after a number of cargoes failed to pass sanitary inspections, according to a document by Brazil’s Agriculture Ministry.

“Chinese authorities understood and accepted that a zero-tolerance standard for the presence of weeds will not be applied to soybean shipments imported from Brazil,” Brazilian officials wrote in a Friday document.

The move is set to ease concerns over backlogs in soybean shipments out of top supplier Brazil just as the country is in the peak of its export season, and typically dominates Chinese imports at this time of year.

Some soybean shipments had failed to clear the country’s own sanitary inspections earlier this month, with Brazil establishing strict checks against the presence of weeds or other vegetation in soybean cargoes that can be considered pests.

The vessels that recently failed inspections had been denied a certificate that’s necessary to clear ships for entering the Chinese market. Those vessels now will receive the sanitary certification without the need for new inspections, while Chinese and Brazilian authorities will hold bilateral meetings to agree on the level of tolerance for weeds, according to the document.

 

Brazil C-S Winter Corn Planting at 97% as of March 19: AgRural

Compares with 91% a week before and 100% a year ago, consultancy firm AgRural says in emailed report.

• 2025/26 soy harvest was 68% completed as of March 19, compared with 60% a week before and 80% a year ago

 

Europe’s Crops Exit Winter Dormancy In Favorable Condition: MARS

Winter crops across Europe are gradually restarting their vegetative growth under favorable conditions, supported by adequate soil moisture and mild late-winter temperatures in many regions, the European Union’s Monitoring Agricultural Resources unit said Monday.

• Winter hardening was “generally sufficient,” but severe frost episodes in February, particularly in areas with limited snow cover, may have caused local damage in parts of Poland and the Baltic states
• Excessive rainfall in south-western Europe and parts of eastern Europe in February and early March caused temporary water-logging and temporarily inundated fields, though impacts on arable crops “remain limited” so far
• Emerging precipitation deficits in north-eastern Europe require monitoring, with crop water demand increasing soon

 

Russia’s March Grain Exports Triple Y/Y Amid Iran War: IFX

Russia’s grain exports tripled year-on-year in March against the backdrop of the war in Iran, as importing countries moved to secure supplies and avoid potential shortages, Interfax reports, citing Elena Tyurina, director of the analytics department at the Russian Grain Union.

• The country exported 3.5m tons of grain between March 1 and March 20
  • Wheat shipments accounted for 3.1m tons of the total
• “Importers are accelerating grain purchases amid geopolitical turbulence to reduce the risk of shortages in regional markets,” Tyurina said. “The current export surge suggests that total grain shipments for March could exceed the five-year average and approach the record high for March, registered in the 2022/23 agricultural season, of 6.2m tons”

 

Brazil’s soybean exports fall 18% on daily average in March amid shipping challenges

Brazil’s soybean exports in March fell to a daily average of about 633,400 metric tons through the third week, down 17.9% from last year’s full-March average, data from the Brazilian government showed on Monday.

The decline in shipments comes during a peak export month for Brazil as the harvest advances.

Brazilian soy farmers have harvested some 70% of their 2025/26 crops, according to consultancies AgRural and Patria Agronegocios in recent reports.

Traders are facing both global and local challenges to ship the country’s current soybean crop, which is expected to hit a record high.

The U.S.-Israel war on Iran has raised risks for key shipping routes in the Persian Gulf, exporters group Anec said earlier this month.

Shipments were also hampered by difficulties in obtaining phytosanitary certificates for China after Beijing requested inspection changes this month.

 

Russia imposes restrictions on some fertiliser exports

Russia has imposed restrictions on the export of certain types of fertilisers from March 21 to April 21 to ensure sufficient supply during the spring planting season, the Agriculture Ministry said in a statement on Tuesday.

 

WHEAT/CEPEA: Upward price pressure persists amid tight supply and firm demand

Cepea, 23 – Wheat prices continue to rise in Brazil, driven by a combination of tight supply during the offseason and firm demand. Sellers remain focused on soybean harvesting, limiting wheat availability. Buyers, in turn, are willing to replenish inventories and are accepting higher prices.

In Paraná, the price average on March 20 was at BRL 1,251.47 per ton, the highest since early October/25. In Rio Grande do Sul, the average was at BRL 1,107.94/ton last Friday, also the highest since October/25. In São Paulo and in Santa Catarina, quotations averaged BRL 1,353.20/ton and BRL 1,218.63/ton on March 20, the highest levels since August/25 and November/25, respectively.

The upward trend in Brazil is verified even with declines abroad (CME Group) and it is reinforced by dollar increases against Real.

Between March 13 and 20, in the wholesale market, prices rose 2.57% in São Paulo, 2.63% in Paraná, 0.22% in Santa Catarina and 1.37% in Rio Grande do Sul. Prices paid to wheat farmers increased 1.03% in PR, 0.82% in SC and remained stable in RS. The US dollar moved up 0.11% against Real in the same comparison, closing at BRL 5.319 on March 20.

BYPRODUCTS – Players from mills indicate possible increases for wheat flour values in April due to price rises of the grain in the domestic market, the possible lower production in the next season and to the offseason, which tends to limit supply.

Wheat bran prices continue to decline, despite seasonal support from the Lent period, when demand for animal feed tends to increase amid higher fish consumption. However, ample supplies of soybean meal and corn in Brazil are intensifying competition among feed inputs, putting downward pressure on wheat bran prices.

 

Countries move to boost ethanol use as oil prices remain high, report says

Several countries, particularly in Asia, are moving to increase the use of ethanol in their car fleets to cut demand for gasoline as oil prices remain high, said a report by supply chain services provider Czarnikow on Monday.

• Czarnikow said there are requests among ethanol producers in India to raise blending in gasoline above the current 20%.
• It said the Philippines is looking to import more ethanol to meet its E10 blend obligation.
• Vietnam was said to be planning to roll out a 10% ethanol blending in gasoline from June.
• E20 (gasoline with 20% ethanol) is a cheaper fuel than pure gasoline in Thailand for the first time in almost a decade, said Czarnikow, adding the country could divert more sugar to make ethanol.
• The report said if Brazil’s oil company Petrobras adjusts the local price for gasoline to import parity, ethanol prices could rise to the equivalent of a sugar price of 18 cents.

 

 

 

 

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