Global Ag News For April 6.2026

TOP HEADLINES

Global Food Price Index Rises in March on Energy Pressures: FAO

Global food prices rose 2.4% from February, according to an index of food-commodity costs from the United Nations’ Food and Agriculture Organization. The rise was mainly driven by energy-related pressures on vegetable oil and sugar prices.

• The FAO Food Price Index averaged 128.5 points in March, up 3 points from its revised February level — a second consecutive month of gains
• The sugar index hit its highest since November 2025, averaging 92.4 points in March, an increase of 6.2 points, or 7.2%, from February
• The vegetable oil index rose for a third consecutive month, averaging 183.1 points in March, up 8.9 points, or 5.1%, from February
• Indexes for dairy, meat and cereals also gained

 

FUTURES & WEATHER

Wheat prices overnight are down 4 in SRW, down 7 3/4 in HRW, down 0 in HRS; Corn is down 1 3/4; Soybeans up 3 1/2; Soymeal up $2.30; Soyoil up 0.15.

Markets finished last week with wheat prices down 16 1/4 in SRW, down 21 in HRW, down 0 in HRS; Corn is down 5; Soybeans up 5 1/2; Soymeal up $2.50; Soyoil up 0.39.

For the month to date wheat prices are down 22 in SRW, down 27 1/2 in HRW, down 1/6 in HRS; Corn is down 7 1/4; Soybeans down 4; Soymeal up $1.10; Soyoil up 0.21.

Year-To-Date nearby futures are up 16.5% in SRW, up 17.6% in HRW, up 11.5% in HRS; Corn is up 2.4%; Soybeans up 13.1%; Soymeal up 7.8%; Soyoil up 43.2%.

Chinese Ag futures (MAY 26) Soybeans down 7 yuan; Soymeal down 13; Soyoil up 46; Palm oil up 68; Corn down 3 — Malaysian Palm is down 31.

Malaysian palm oil prices overnight were down 31 ringgit (-0.64%) at 4808.

There were no changes in registrations. Registration total: 34 SRW Wheat contracts; 93 Oats; 641 Corn; 523 Soybeans; 1,536 Soyoil; 197 Soymeal; 108 HRW Wheat.

Preliminary changes in futures Open Interest as of April 2 were: SRW Wheat up 766 contracts, HRW Wheat up 1,246, Corn up 12,719, Soybeans up 6,464, Soymeal up 1,984, Soyoil down 4,282.

 

HIGH RAINFALL ANOMALIES MAY AFFECT CORN AND SOYBEANS ACROSS THE PAMPAS

Weather anomaly severity: High (Argentina)

Crops impacted: Corn, Soybean, Coffee

Preferred model for the next 5 days: EC Op

Preferred model for the 6-15 day timeframe: EC Ens

Forecast confidence: High for the next 10 days, relatively high for the overall trend in days 11-15

Model change from previous runs: Higher precipitation anomalies across Argentina

Significant weather anomalies:

Brazil:

• Dry conditions in North, Central and parts of Southeast over the next 5 days (15-25 mm deficits), with regional rains in far South (20 mm surpluses in Rio Grande do Sul)
• Change into a wet pattern in the Northeast and Southeast during days 6-10 (the highest rainfall in Espirito Santo with surpluses of 30–40 mm above normal); this may extend into days 11-15 and encompass Mato Grosso.
• Increasingly dry conditions in the South throughout 6-15 day timeframe (deficits down to 30 mm below normal/15 days)
• Mild warmth along the southern and southeast coast over the next 5-7 days (2-3 °C above normal)
• Dry conditions in Mato Grosso over the next 10 days will affect 2nd corn crop at early development stages but should facilitate harvests in South Brazil
• The arrival of high rainfall next week in the Southeast key coffee area may slowdown coffee harvest

Argentina:

• Weakening cool conditions throughout the next 10 days (1-4 °C below normal), with warmth expansion beyond 10 days
• Flooding rainfall totals with the risk of crop damage over the next 5-6 days across the northern Pampas (30-100 mm above normal in Entre Rios, Santa Fe, Santiago del Estero)
• Persistent dryness along the Central and southern Pampas with high rainfall deficits (20-40 mm below normal/15 days)
• Declining soil moisture in Buenos Aires and southern Córdoba may elevate the risks for corn and soybean at late development stages

 

Northern Plains: Heavy rain and snow moved through the region over the holiday weekend, though much of the snow has melted except over eastern North Dakota. Another system will move through Tuesday night and Wednesday with scattered showers. Another will move through this weekend with more scattered showers into early next week. The frequent rounds of precipitation will improve soil moisture, but colder temperatures are creating more snow and slower rises in soil temperature. Unless the pattern changes, it could be a shorter window for planting this spring.

Central/Southern Plains: Another strong system pushed through over the holiday weekend, bringing scattered showers and thunderstorms, some of which were heavy across the east. However, areas in the west have seen much less precipitation out of the more active weather pattern from last week and drought is increasing in some areas again. The pattern does seem to be a bit more favorable for a front to stall out in the region on Thursday and bring chances for showers to many of these western areas through at least early next week. The showers do look like batches of thunderstorms, which will mean some areas will see heavy rain while others are likely to be drier. Mixed improvement should be expected, but not widespread improvement for winter wheat or significant increases in soil moisture for corn and soybean planting.

Midwest: A large system moved through over the weekend with widespread heavy precipitation, including mixed precipitation over the far north. Areas in drought saw some of the heaviest precipitation, which should improve soil moisture for planting and early growth in much of the region. Some isolated showers will move through on Monday followed by some cooler air. The colder temperatures should hold back planting more than soil moisture at this point. A system will move through on Wednesday night and stall a front across the south for Thursday where showers may continue into the weekend, and perhaps lift back northward again as well. With more showers expected next week as well, there is plenty of opportunity to have good soil moisture for planting. Some areas may have the opposite problem with too much rainfall that may cause delays that way.

Delta: A front moved through on Saturday into Sunday and brought widespread showers and thunderstorms. Some areas of heavy rain fell as well. With how deep the drought is in the region, the rainfall has certainly helped, but will not wipe away the drought. There may be some isolated showers at various times this week, but drier conditions this week should not be favorable for soil moisture.

Brazil: Isolated showers continued to fall in Brazil over the weekend, but were not widespread or heavy enough for developing corn. A front will move through early this week and produce widespread showers across the south, and a brief burst of moderate rain across the central, but precipitation will become isolated again after it passes. A similar situation may repeat itself this weekend into early next week. Overall, this is unfavorable for developing safrinha corn.

Argentina: A slow-moving front brought widespread precipitation to the country over the last week, but that is only favorable for the shrinking portion of the crop that was planted late. Early-planted corn and soybeans continue to go through harvest. Another system will move across the north this weekend with more rainfall.

Europe: A system moved out of the southeast over the weekend, and a few showers passed through northern areas. A couple of smaller systems will move through this week with more focused areas of precipitation, mostly across Spain and then France and Germany. Despite the somewhat drier look this week, most areas of the continent have good soil moisture for winter wheat and early corn planting.

Black Sea: Scattered showers moved through over the weekend and another system moving in on Monday will produce more rounds of showers for the rest of the week. Soil moisture has slowly been improving since the winter, though it is not ideal in too many areas. The region would like to keep these scattered showers going or see more widespread heavy rains for the second half of April. No concerns are noted though at the moment.

Australia: A few showers went through the south over the weekend, but many areas stayed dry. That is favorable for the remaining cotton and sorghum harvest, but the country would like to see more widespread heavy precipitation for winter wheat and canola planting. Showers will be limited, but continue across the south for the first half of the week.

China: Scattered showers went through the northeast over the weekend, but missed the North China Plain, which is a little concerning for winter wheat. Precipitation has been very low since last fall and while global satellites seem to think that soil moisture is favorable there, they may be wrong. A couple of systems will move through this week, but favor more of the canola areas across the south-central than the wheat areas on the North China Plain.

 

The player sheet for 4/2 had funds: net sellers of 2,000 contracts of SRW wheat, sellers of 13,500 corn, sellers of 4,000 soybeans, sellers of 500 soymeal, and buyers of 7,500 soyoil.

TENDERS

• FEED WHEAT TENDER: A group of importers in Thailand issued an international tender to purchase at least 60,000 metric tons of animal feed wheat, European traders said on Thursday. The deadline for submission of price offers was also Thursday, April 2.
• 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 April 8.

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 April 7.

 

 

 

 

TODAY

Putin: Russia, Egypt Could Discuss Grain, Energy Hub: IFX

Russia and Egypt could discuss establishing a grain and energy hub in Egypt, Russian President Vladimir Putin says, according to Interfax.

• NOTE: Putin speaks at meeting with Egyptian Foreign Minister Badr Abdelatty in Moscow
• Putin says he has instructed Russian government to work out supplies of food products, primarily grain, to Egypt
• Putin invited Egyptian president to visit Russia

 

Zelenskiy, Sisi Discuss Boosting Ukraine Grain Exports to Egypt

Ukrainian President Volodymyr Zelenskiy had a phone call with his Egyptian counterpart Abdel Fattah El-Sisi, he says on Telegram.

• Zelenskiy says Sisi told him Egypt will stop getting grain that originates in territory Russia has seized from Ukraine
• Egypt is interested in boosting grain imports from Ukraine, Zelenskiy says
• Ukraine is ready for military cooperation with Egypt

 

Global Wheat Output Seen Stable, Decline of 1.7% This Year: FAO

Global wheat production is expected to decline slightly to 820 million tons in 2026, according to the United Nations’ Food and Agriculture Organization, though that figure is still above the five-year average.

• Lower prices are expected to reduce wheat sowings in major producers, including Russia, the EU and the US
• Production is expected to remain stable in China and Ukraine, while India could maintain near-record output

For the 2025-26 season:

• The FAO slightly raised its estimate for global grain production to a record 3.03b tons
• Global grain stocks are projected at 940.5m tons, up by 4.1m tons from the previous outlook
• The global stock-to-use ratio is seen at 31.9%, indicating comfortable supply levels

 

Ukrainian drones attacked cargo vessel that sank, killing one, Russia-installed official says

A cargo ship carrying wheat sank in the Sea of ​​Azov after coming under attack from Ukrainian drones, a Russia-installed official said on Sunday, leaving one person dead and two missing.

Vladimir Saldo, Moscow-installed leader of the Russian-controlled parts of Ukraine’s Kherson region, said the attack occurred on Friday but crew members were unable to make known what had happened to them until Sunday.

“It became known that the reason for the sinking of the Volgo-Balt in the Sea of Azov was a terrorist attack by the Kyiv regime,” Saldo wrote on Telegram.

He said the crew abandoned ship and was only able to reach shore on Sunday near the village of Strilkove in Kherson region.

He said an aide to the captain had died and two people were unaccounted for, adding that an investigation into the incident was under way. The captain was recovering in a hospital.

“This is, unfortunately, not the first instance of Ukraine attacking a merchant ship in neutral waters. There will be a response to this crime,” Saldo said.

In an earlier post, he said nine crew members had been found alive on the shore – all Russian nationals.

Kherson is one of four Ukrainian regions annexed by Russia in 2022, more than six months after Moscow’s invasion. Russian forces hold a little more than 70% of the two regions, Zaporizhzhia and Kherson, in the south.

 

Ukraine’s 2026 sunflower seed harvest, sunoil exports seen rising, says APK-Inform consultancy

Ukrainian agriculture consultancy APK-Inform has revised up its 2026 sunflower seed harvest forecast for the country to 13.48 million tons from 13.35 million tons thanks to a larger-than-expected sowing area and better yields, it said on Sunday.

The consultancy said a bigger harvest would help to increase production and exports of sunflower oil. Ukraine is a major global sunoil exporter.

APK-Inform also slightly increased its soybean harvest forecast for 2026 and revised down its Ukrainian rapeseed export outlook due to expected higher domestic consumption.

 

Middle East Conflict Weighs on Global Food Prices, FAO Says

Global food prices rose in March, driven by higher energy prices and an increase in freight costs linked to war in the Middle East.

An index of food commodity prices created by the United Nations’ Food and Agriculture Organization averaged 128.5 points in March, up 3 points from February, as disruptions from the Iran war ripple through food supply chains.

The 2.4% increase in the gauge — which tracks grains, sugar, meat, dairy and vegetable oil costs — marks the second consecutive month of gains, having risen for the first time in five months in February.

While the index monitors raw commodity costs rather than retail prices, the increase signals food inflation may persist as conflict in the Middle East lifts energy and fertilizer costs, as well as disrupts flows of grains and key inputs through the Strait of Hormuz.

The largest gains were seen in vegetable oil and sugar prices, though figures for meat, dairy and cereals also climbed.

 

Malaysia’s March palm oil stocks set to hit lowest in 8 months on export surge

• March stocks likely to fall 19.2% to 2.18 mln MT – poll
• Output forecast to climb 4% to 1.34 mln MT
• Exports projected to increase 38.3% to 1.56 mln MT
• Malaysian Palm Oil Board data due on April 10

Malaysia’s palm oil inventories likely dropped in March by the most in three years to their lowest level since last July, as a surge in exports more than offset a modest increase in output, a Reuters survey showed on Friday.

Palm oil stocks are expected to decline for a third straight month, to 2.18 million metric tons, 19.2% lower than February, according to the median estimate of eleven traders, planters, and analysts polled by Reuters. MYPOMS-TPO

Crude palm oil output is estimated to rise 4% month-on-month to 1.34 million metric tons, snapping four straight months of declines, though it would still mark the lowest March production in two years. MYPOMP-CPOTT

Exports of palm oil products are projected to surge 38.3% to 1.56 million metric tons, recovering from a decline in the previous month, the survey showed. MYPOME-PO

A higher export levy imposed by Indonesia, the world’s biggest palm oil producer, prompted buyers to switch to Malaysia in March, a shift reflected in export data, said a New Delhi-based dealer with a global trade house.

A likely marginal rise in output coupled with exports that performed well above market expectations and sustained domestic consumption drew down end stocks, said Paramalingam Supramaniam, director at Selangor-based brokerage Pelindung Bestari.

“End stocks are currently at a manageable level but going forward, market attention will be on the broader macro environment – the global market conditions, the Middle East war and the direction of crude oil prices,” he said.

Supramaniam added that April production and export data too will be closely watched as key drivers of the next market direction.

The Malaysian Palm Oil Board (MPOB) is scheduled to release its monthly data on April 10.

 

Key Fertilizer Buyer India Issues Tender as War Hits Supply

India, the world’s largest urea importer, is aiming to buy about 2.5 million tons of the key crop nutrient ahead of the monsoon sowing season as the Middle East conflict disrupts domestic production, tightening availability.

Indian Potash Ltd., which buys urea for the government, issued a tender on Saturday to import 1.5 million tons of urea through the country’s west coast, and the remaining volumes to come via the east coast, according to a tender document posted on the company’s website. The shipments should leave the load port by June 14.

India regularly imports urea through global tenders to meet local demand, but this is its first such purchase since the US-Israeli war on Iran, making the timing in focus. Sowing for new crops, especially rice, corn and soybeans, is set to begin in a couple of months.

The South Asian nation’s urea production relies heavily on natural gas, much of which is imported from the Middle East and used to make ammonia, a key input. However, a shortage of LNG due to the effective closure of the Strait of Hormuz forced some producers in South Asia to shut plants last month. Indian authorities are in talks with major producers and exporters of nitrogen-based and phosphatic fertilizers to secure direct supplies.

Global urea prices have surged since the start of the war as nearly 45% of world supplies pass through the Persian Gulf. Any prolonged shutdown risks driving prices even higher.

India requires about 39 million tons of fertilizers for crops grown during the June-September rainy season, according to the fertilizer ministry. The country had opening stockpiles of about 18 million tons, with the remainder expected to be met through domestic production and imports, it said

The deadline for the offers is April 15, and they must remain valid through April 23, Indian Potash said.

 

CORN/CEPEA: Prices firm again on low liquidity and international uncertainty

Cepea, 2 – The combination of an uncertain international scenario, oil price volatility, and high freight costs in Brazil has kept sellers away from closing deals this week in the spot market. As a result, corn trading remained limited, and prices showed slight fluctuations.

Between March 26th and April 1st, the ESALQ/BM&FBovespa Index for corn prices declined only 0.1%, to close at BRL 70.32 per 60-kg bag on April 1st. In the accumulated of March, the Index rose 1.2%. The monthly average was at BRL 70.90/bag, 4.5% more than in February, but for a sharp decrease of 20.4% compared to March/25, in nominal terms.

On the average of the regions surveyed by Cepea, corn values dropped by 0.02% in the wholesale market (deals between processors) but increased 0.89% in the over-the-counter market (paid to farmers) from March 26th to April 1st.

 

SOYBEAN/CEPEA: Upward trend interrupted in Brazil

Cepea, 2 – Soybean prices have declined in the international market this week amid ample supply in South America and a possible increase in planted area in the United States. The drop in international prices was passed on to Brazil and was intensified by the depreciation of the U.S. dollar against the Brazilian Real, which reduced trading activity. It is worth noting that, until recently, soybean prices had been firm, supported by conflicts in the Middle East and the sharp increase in soybean oil prices.

The CEPEA/ESALQ Index (Paraná) dropped by 1.2% from March 26th to April 1st, to close at BRL 122.49 per 60-kg bag on April 1st. The CEPEA/ESALQ Index (Paranaguá) decreased by 1.9% in the same comparison, closing at BRL 127.91 per 60-kg bag.

On the average of the regions surveyed by Cepea, soybean prices moved down 0.7% in the wholesale market (deals between processors) and 0.8% in the over-the-counter market (paid to farmers) between March 26th and April 1st. The US dollar decreased by 1.7% in the same comparison, to close at BRL 5.158.

Abroad, price declines are linked to estimates from the USDA indicating the planted area in the US at 34.28 million hectares in the 2026/27 crop, up 4.3% compared to the previous season.

The USDA also projects inventories at 57.29 million tons as of March 1, up 10.2% from the same period last year. Still, as the market had expected a more significant increase in planted area and slightly lower inventories, declines were limited.

 

Ukraine, Syria agree to cooperate on security, Zelenskiy says

• First visit by Ukrainian president since diplomatic ties restored
• Leaders pledge to boost security cooperation
• Three-way talks include Turkish foreign minister

Ukraine and Syria pledged greater security cooperation in talks on Sunday, President Volodymyr Zelenskiy said as Kyiv seeks to promote its military expertise across the region following the outbreak of the U.S.-Israeliwar on Iran.

Zelenskiy, continuing his tour of Middle East countries, met with his Syrian counterpart, Ahmed al-Sharaa, in Damascus.

“We agreed to work together to provide more security and opportunities for development for our societies,” Zelenskiy wrote on Telegram.

In a later post, Zelenskiy said there had been wide-ranging discussions with the Syrian leader and three-way talks that included Turkish Foreign Minister Hakan Fidan.

“We managed to discuss everything: from security and defence issues and the situation in the region due to all the events around Iran to energy and infrastructure cooperation between our countries,” Zelenskiy wrote.

In recent weeks, Zelenskiy has visited Middle East countries, offering Ukrainian expertise in countering drone and missile attacks developed during its four-year war with Russia.

Since the war began on February 28, Iran and its proxies have launched strikes on U.S. allies and bases in the region.

Syria is not known to have any air defences capable of dealing with Iranian drones or missiles.

 

North American farmers pinch pennies on farm machinery as profitless growing season approaches

• Farmers cut spending on big-ticket machinery due to high costs and low crop prices
• Tariffs on steel, aluminum and finished goods raise machinery prices, industry groups say
• Industry urges tariff cuts for relief; farmers delay purchases, keep older equipment

Farm machinery salespeople are wrapping up a dismal season of farm shows across North America as farmers gear up for spring planting without much new equipment.

Farmers have not stopped buying, but many have slashed spending and are avoiding big-ticket items due to high machinery, fertilizer and fuel prices, as well as a global grains glut pushing down crop prices.

“They might not buy the million-dollar combine, but they’ll buy a $100,000 implement,” said Chad Jones of manufacturer Degelman Industries, standing among his company’s rockpickers, harrows, rippers and other yellow-painted equipment at Canada’s Farm Show in March.

Farmers are still spending money, but far less than in other years, according to sales data from the Association of Equipment Manufacturers, the organization that represents big players in the North American industry.

The group told Reuters that sales of big-ticket items like tractors and combines were down between 30% and 40% in the U.S. in March compared to a year ago.

Farm machinery sales have been hammered by a squeeze on farmer finances exacerbated by U.S. President Donald Trump’s trade war tariffs that have escalated the production cost of already-expensive machines like tractors and combines. These items, known by farmers as “big iron,” are manufactured from large amounts of steel and often with imported components.

The Trump administration is reported to be planning a 25% tariff on the value of finished imported goods that contain steel and aluminum, rather than just 50% on the metals content of those goods. That will likely raise the overall price of those products. However, goods that are mostly made from steel and aluminum, including tractors and combines, will still face the 50% tariff that has been in place for almost a year.

In its most recent quarterly earnings call, a John Deere DE.N official said the company estimates tariffs will cost it $1.2 billion in 2026, and that not all of 2025’s tariff costs had been passed on to farmers.

Last Friday, Trump called on the manufacturers to cut prices in order to help farmers.

But for the beleaguered industry, Trump’s tariffs are the problem. The easiest way to bring the cost of machinery down would be “to significantly scale back on the tariffs that are hitting the manufacturers, and the retaliatory tariffs that are hitting farmers,” said Kip Eideberg of the Association of Equipment Manufacturers.

Trade fights have hurt U.S. crop export sales, with China absent from the U.S. soybean exports market for months, depressing North American crop prices and creating huge stockpiles.

“They were looking at profitability being very tight to even potentially negative for the upcoming growing season, and this has led to slower decisions on equipment replacement,” said Farm Credit Canada economist Leigh Anderson. Farmers have delayed planned purchases, hanging on to aging equipment for longer, he said.

Signs of that lack of interest could be seen at the farm show in Regina, with few farmers kicking the tires of tractors and other large machinery. Despite over 5,000 people attending the show, many of the equipment displays were relatively quiet.

“It’s fair to characterize it as purchasing behavior shifting from wants to needs,” said Eideberg of AEM. Fertilizer and machinery production costs are hard to reduce once they have risen, which is why the AEM is hoping to see tariffs chopped.

“That’s the immediate relief that will make a significant difference for farmers and manufacturers,” said Eideberg.

 

China tightens border controls, culls cattle amid foot-and-mouth outbreak

• China culls cattle after foot-and-mouth disease outbreak
• Authorities say SAT-1 variant entered via northwest border
• Russia battles cattle disease outbreak, denies foot-and-mouth
• China fast-tracks vaccines, shots possible within a month

China has tightened border controls, fast-tracked vaccines and begun culling cattle after a small outbreak of foot-and-mouth disease in the northwest that officials say entered from abroad.

The Ministry of Agriculture said last weekend it had started culling animals and disinfecting affected areas after outbreaks hit herds totalling 6,229 cattle in Gansu province and the Xinjiang Uyghur Autonomous Region.

Industry analysts said it was the first time the SAT-1 serotype—a type of the disease endemic in Africa—had been detected in China, and that existing domestic vaccines for the more common O and A serotypes do not provide protection.

Since 2025 SAT-1 has spread from Africa to parts of the Middle East, West Asia and South Asia.

Authorities said on Monday the outbreak entered China via the northwest border, a region that touches Kazakhstan, Mongolia, Russia and other countries.

Border provinces including Xinjiang and Gansu were ordered to step up patrols and prevent the disease entering through smuggling or illegal transport, according to official notices.

“The current outbreak threatens a large region and prevention and control are under severe pressure,” said Rosa Wang, analyst from Shanghai JC Intelligence Co.

 

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

Barge shipments down the Mississippi river increased to 691k tons in the week ending March 28 from 621k tons the previous week, according to the USDA’s weekly grain transportation report.

• Barge shipments of corn rose 24.4% from the previous week
• Soybean shipments down 6.8% w/w
• St. Louis barge rates were $18.07 per short ton, an increase of $0.20 from the previous week

 

 

 

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