Global Ag News For April 22.2026

TOP HEADLINES

Grain Trade Routes Shift as Geopolitics Takes Center Stage

Traditional grain trade routes are being upended by geopolitical tensions and the fallout from the Iran war, according to the world’s largest shipbroker.

“Geopolitics is paramount at the moment,” Louisa Follis, director of dry cargo analysis at Clarkson Plc told the Financial Times Commodities Global Summit. “The industry is adapting, is changing to the circumstances,” citing an increase in Russian corn being shipped to China during the first quarter, she added.

At the same time, US farmers are shipping more grain to West Africa, as they search for new markets in developing nations, Follis said.

The Iran war has brought global food supply chains into sharp focus, with the closure of the critical Strait of Hormuz disrupting flows of key agricultural inputs such as fertilizer and energy. That’s threatening crop yields worldwide, while food prices already climbing in some low-income countries.

With those pressures mounting, the conflict is shifting the way that countries approach food-supply chains and is likely to boost stockpiling, according to Vijay Chakravarthy, chief risk officer at agricultural trader Louis Dreyfus Co.

The war is also likely to push China to continue diversifying its purchases away from the US toward Brazil and Argentina, he added.

“China took it’s lessons from Trump 1,” Chakravarthy said. “We could expect that to speed up a bit more because when you have these war events, alliances become very important.”

 

FUTURES & WEATHER

Wheat prices overnight are up 3 in SRW, down 3/4 in HRW, up 0 in HRS; Corn is up 3 1/4; Soybeans up 9; Soymeal up $1.20; Soyoil up 0.50.

For the week so far wheat prices are up 19 1/2 in SRW, up 8 1/4 in HRW, up 1/8 in HRS; Corn is up 7 3/4; Soybeans up 16 1/4; Soymeal down $4.00; Soyoil up 4.07.

For the month to date wheat prices are down 10 3/4 in SRW, up 6 1/4 in HRW, up 1/8 in HRS; Corn is down 3; Soybeans up 13 1/4; Soymeal up $8.10; Soyoil up 3.27.

Year-To-Date nearby futures are up 20.5% in SRW, up 25.4% in HRW, up 15.8% in HRS; Corn is up 3.7%; Soybeans up 14.8%; Soymeal up 11.2%; Soyoil up 50.8%.

Chinese Ag futures (JUL 26) Soybeans up 86 yuan; Soymeal up 41; Soyoil up 86; Palm oil up 163; Corn up 13 — Malaysian Palm is up 68.

Malaysian palm oil prices overnight were up 68 ringgit (+1.49%) at 4627.

There were changes in registrations (-246 Corn, -409 Soyoil, -2 Soymeal). Registration total: 34 SRW Wheat contracts; 93 Oats; 206 Corn; 523 Soybeans; 1,107 Soyoil; 185 Soymeal; 108 HRW Wheat.

Preliminary changes in futures Open Interest as of April 21 were: SRW Wheat down 4,723 contracts, HRW Wheat down 247, Corn down 3,985, Soybeans down 2,142, Soymeal down 3,274, Soyoil up 1,129.

 

DAILY WEATHER HEADLINES: 22 APRIL 2026

• NORTH AMERICA: Favorable wet conditions over the next 10 days in the U.S. Midwest will alleviate soil moisture deficits
• SOUTH AMERICA: After the recent rains across the Argentinian Pampas, the expected dryness in late April and early May will facilitate spring crop harvests
• SOUTHEAST ASIA: Dry conditions will prevail over the next 15 days across palm oil regions of Southeast Asia, with regional rains limited to the southern parts of Indonesia
• EUROPE: Persistently cool conditions are expected in the Eastern E.U. countries over the next 15 days, posing a threat of ground frost for developing winter wheat
• TELECONNECTIONS: A strong negative North Atlantic Oscillation phase in the coming days and early May will support cool conditions in parts of Europe and the Eastern U.S. Coast

 

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

Central/Southern Plains: Isolated to scattered showers Wednesday-Saturday. Temperatures above normal Wednesday-Thursday, below normal north and above normal south Friday-Saturday. Outlook: Isolated to scattered showers Sunday-Monday. Mostly dry Tuesday. Isolated to scattered showers Wednesday-Thursday. Temperatures below normal north and above normal south Sunday-Monday, near to below normal Tuesday-Thursday. 

Midwest – West: Mostly dry through Wednesday. Isolated to scattered showers Thursday-Friday. Mostly dry Saturday. Temperatures above to well above normal through Thursday, falling Friday, near to below normal Saturday.

Midwest – East: Isolated to scattered showers Wednesday. Mostly dry Thursday. Isolated to scattered showers Friday. Mostly dry Saturday. Temperatures above normal through Saturday. Outlook: Isolated to scattered showers Sunday-Thursday. Temperatures below normal west and above normal east Sunday-Tuesday, near to below normal Wednesday-Thursday.

Delta: Isolated showers through Saturday. Temperatures above normal Wednesday-Saturday. Outlook: Isolated to scattered showers Sunday-Monday. Mostly dry Wednesday. Scattered showers Thursday. Temperatures above normal Sunday-Monday, near normal Tuesday-Thursday.

Brazil – Rio Grande do Sul and Parana: Isolated showers through Friday, mostly south. Temperatures above normal through Friday. Mato

Brazil  – Grosso, MGDS and southern Goias: Isolated showers through Friday, mostly northwest. Temperatures above normal through Friday. 

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

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

 

The player sheet for 4/21 had funds: net buyers of 3,500 contracts of SRW wheat, buyers of 3,500 corn, buyers of 6,500 soybeans, buyers of 1,000 soymeal, and buyers of 12,500 soyoil.

TENDERS

• CORN SALE: The U.S. Department of Agriculture confirmed private sales of 100,000 metric tons of U.S. corn for delivery to Colombia in the 2025/26 marketing year that began September 1, 2025.
• CORN SALE: The USDA also confirmed private sales of 195,000 tons of U.S. corn to undisclosed destinations for 2025/26 delivery.
• WHEAT PURCHASE: Jordan’s state grains buyer purchased about 60,000 tons of hard milling wheat to be sourced from optional origins in an international tender on Tuesday, traders said. It was believed to have been bought from trading house Cargill at an estimated $273.99 a ton cost and freight (c&f) included for shipment in the second half of August, they said.
• BARLEY PURCHASE: South Korean animal feed maker Nonghyup Feed Inc (NOFI) purchased an estimated 4,700 tons of optional-origin animal feed barley in an international tender on Tuesday seeking up to 10,000 tons, European traders said. It was bought at an estimated $299.00 a ton c&f and traders said it would be sourced from the Russian Far East region with shipment from Vladivostok between June 9 and June 28. The seller was said to be trading house Hardy.
• CORN TENDER: Tunisian state agency ONF issued an international tender to purchase an estimated 27,000 tons of animal feed corn, European traders said. The grain can be sourced from optional origins. The deadline for submission of price offers is Wednesday, April 22, they said.

PENDING TENDERS

• RICE TENDER: South Korea’s state-backed Agro-Fisheries & Food Trade Corp issued an international tender to purchase an estimated 65,394 tons of rice, European traders said. The deadline for submissions of price offers is April 21.
• WHEAT TENDER: The Taiwan Flour Millers’ Association issued an international tender to purchase an estimated 105,950 tons of grade 1 milling wheat to be sourced from the United States, European traders said. The deadline for submission of price offers is April 23.
• RICE TENDER: South Korea’s state-backed Agro-Fisheries & Food Trade Corp issued an international tender to purchase about 20,000 tons of rice sourced from the United States and Vietnam, European traders said. The deadline for submissions of price offers in the tender is April 28. Results of the tender may not be known for some weeks after price submissions, traders said.
• BARLEY TENDER: Jordan’s state grains buyer has issued an international tender to purchase up to 120,000 metric tons of animal feed barley, European traders said on Wednesday. The deadline for submission of price offers in the tender is April 29. Traders had expected a new barley announcement after Jordan purchased 60,000 tons of milling wheat in another international tender on Wednesday.

 

 

 

 

TODAY

US CROP EXPORTS: 436,600 Metric Tons of Corn

The US Department of Agriculture on Tuesday announces the following export sales activity on its website:

Two sales announced:

• 316,600 tons of corn to Mexico: 65,000 for 2025-26 marketing year, 139,600 for 2026-27 and 112,000 for 2027-28
• 120,000 tons of corn to Unknown Buyers for 2025-26

 

US CROP EXPORTS: 295,000 MT of Corn to Colombia, Unknown Buyers

The US Department of Agriculture on Tuesday announces the following export sales activity on its website:

Two sales announced:

• 100,000 tons of corn to Colombia for 2025-26 marketing year
• 195,000 tons of corn to Unknown Buyers for 2025-26

 

ETHANOL: US Weekly Production Survey Before EIA Report

Output and stockpile projections for the week ending April 17 are based on four analyst estimates compiled by Bloomberg.

• Production seen lower than last week at 1.083m b/d
• Stockpile avg est. 26.467m bbl vs 26.699m a week ago

 

US Lawmakers Set to File Awaited Ethanol Legislation on E15

A council of US congressional lawmakers is poised to file long-awaited legislation that would allow for year-round, nationwide sales of higher-ethanol gasoline.

The council’s proposal would also limit exemptions from annual biofuel-blending mandates to companies that process fewer than 75,000 barrels of crude oil a day across all their facilities, according to a document seen by Bloomberg News. It would also allow for exemptions for refineries that are at risk of closure, permanent idling or conversion to a renewable fuel production facility, the document shows.

Lawmakers plan to file the legislation on Wednesday.

A representative for Stephanie Bice, a House Republican who is a co-chair of the council, confirmed the document and the plan on filing. A representative for co-chair Randy Feenstra didn’t immediately respond to a request for comment.

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 as much of the oil industry has historically pushed back on the efforts — since refiners are burdened with expenses from biofuel blending.

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, so far, has been that refiners haven’t agreed 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 relief from the quotas if the companies can demonstrate “disproportionate economic hardship.”

When a similar E15 measure was killed in January, House Republican leaders struck an agreement with Midwestern GOP lawmakers to form the E-15 Rural Domestic Energy Council, with the goal of reaching a compromise between the agriculture industry along with small, medium and large oil refineries.

 

Cold snap could slow or halt sowing of late spring crops in Ukraine, union says

A cold snap in northern, western and eastern Ukraine could slow or halt the sowing of late spring crops such as corn and sunflower, the trading department of Ukraine’s largest farmers’ union UAC said on Tuesday.

Warmer weather in early April had created favourable conditions for planting late crops, but in recent days nighttime temperatures have fallen to between minus 2 and minus 5 degrees Celsius (23°F), making sowing less favourable.

“The actual sowing campaign will most likely begin in May,” the union said.

According to Ukraine’s UGA traders’ union, farmers had sown 294,000 hectares of sunflower as of April 21. The Economy Ministry said last week that some farmers had also begun planting corn.

 

China’s COFCO to build Brazil’s largest soy crushing complex in $400mn expansion

Chinese state-owned agribusiness major COFCO International plans to invest more than BRL2bn ($400mn) to expand its soybean processing plant in Rondonópolis, central-west Brazil, in a move that would create the country’s largest soybean crushing complex, energy news website CPG reported.

The overseas arm of China Oil and Foodstuffs Corporation will roughly double the facility’s daily processing capacity, taking it from around 4,500 tonnes of soybeans per day to approximately 10,000 tonnes following completion, which local authorities expect by early 2028.

Rondonópolis, located in the heart of Mato Grosso state and widely known as Brazil’s capital of agribusiness, is a strategic hub for production, storage and logistics in one of the country’s most productive agricultural regions.

The expanded plant produces soybean meal, soybean oil and biodiesel — commodities vital to both global feed and energy supply chains as well as Brazil’s domestic market.

China is the world’s largest soybean importer and Brazil’s single biggest buyer of the oilseed, a position that has grown in strategic importance as Beijing has sought to diversify away from US agricultural suppliers amid the ongoing trade dispute.

Brazil’s Mato Grosso state is the country’s top soybean-producing region, accounting for roughly a third of national output.

 

Argentina port protest delays at least 10 ships waiting to load grains

At least 10 vessels were delayed in loading grains on Tuesday at Argentina’s Quequen port as truckers demanding higher freight rates block access to the terminal, a source at the port said.

“No trucks are entering with grain, we are completely paralyzed,” the source told Reuters.

The protest is being staged by truck drivers camped along a road leading to the port, where they are preventing grain trucks from passing while negotiating tariff increases with grain storage firms and farm producer groups, the source said.

Quequen, in the south of Buenos Aires province, loaded 2.4 million metric tons of soybeans in 2025, equal to 20% of the oilseed exported by Argentina last year.

Major exporters including Bunge BG.N, Cofco 1610.HK and local cooperative ACA operate at the port.

In Argentina, more than 80% of grain shipments to the country’s ports are transported by truck.

The action also temporarily affected Bahia Blanca port. On Monday, the Argentine ports chamber said in a statement that the truckers’ protest had blocked exports worth an estimated $450 million.

Ports in the Rosario area, which ship more than 85% of Argentina’s grain exports and nearly all of its soy oil and soymeal exports, were operating norma

 

Russia has extended fertilizers export quotas until November 30

Russia has extended export quotas for certain fertilizers to November 30 starting from June 1, the government said on Wednesday.

Russia, a major producer of fertilizers which accounts for about a fifth of global trade, is seeking to protect its domestic market as the spring sowing campaign gathers pace.

The total export quota will amount to 20 million metric tons, including over 8.7 million tons for nitrogen fertilisers, over 4.2 million tons for ammonium nitrate, and over 7 million tons for compound fertilisers.

 

Russian Wheat Exports Seen at 3.8M Tons in April: Rusagrotrans

Russia’s wheat exports may reach as much as 3.8 million tons this month, 0.1m tons more than the previous estimate, according to the analytical center of railway operator Rusagrotrans.

• Shipments include exports to Eurasian Economic Union
  • Shipments totaled 2.39m tons in April 2025
  • Five-year average is about 3m tons
• Over the next two weeks, in the Central and Volga Federal Districts, precipitation is expected to gradually decrease
  • “However, localized rains may still complicate sowing, soil treatment, and the care of winter crops”: Rusagrotrans
  • In the South, conditions remain “largely favorable for winter crop development, with sufficient soil moisture”

 

French Farmers Cut Back on Corn Sowing as Iran War Boosts Costs

The effects of soaring fuel and fertilizer costs brought about by the Iran war are starting to impact corn farmers in France, Europe’s top producer.

The area under corn will shrink to around 1.33 million hectares, the lowest since 2023 and about 15% below last year’s levels, as high input costs put off farmers, according to Franck Laborde, president of the French growers’ group AGPM.

“Farmers are making the choice not to sow, rather than taking the risk of having negative margins,” Laborde said in an interview. Farmers are either planting crops that need less fertilizer or leaving land fallow, he said.

The Middle East conflict, which erupted at the end of February, has upended the world’s flows of fuel and crop nutrients, increasing the costs for farmers and leading to concerns about a global food crisis. Off-road diesel prices have doubled this year and fertilizer costs have also soared, according to Laborde.

French corn plantings are estimated at 7% below the five-year average of 1.43 million hectares. Grains like corn and wheat typically require more fertilizer compared with certain lentils and beans.

French farmers have also battled extreme weather, US tariffs and cheaper imports in recent years. The government is moving to fast-track emergency legislation to protect growers from rising imports as Europe’s top agricultural producer faces a collapse in its food trade balance.

 

Cargill Says Canola Processing Plant in Canada Is Operational

Crop trader Cargill Inc. said Tuesday that its canola processing facility in Canada is now operational.

• The plant in Regina, Saskatchewan, has the capacity to process 1 million metric tons of canola a year, the company said in a statement
  • The plant will produce canola oil for food and renewable fuels, as well as protein for animal feed
  • The site supports more than 100 jobs, the company said
• Cargill said the plant will reduce the need to export raw canola seed as it expands local processing capacity
  • It is expected to serve growers across Saskatchewan and Western Manitoba
  • “By expanding processing capacity in Saskatchewan, we’re creating more opportunities for farmers while helping ensure Canada remains competitive in rapidly evolving global markets,” Cargill Canada President Jeff Vassart said

 

Global corn trade stays robust despite Middle East conflict

LSEG Research & Insights – Commodities

Throughout the past year, lower corn prices have increased demand for both feed and industrial use, resulting in global corn imports and exports reaching record highs. Even with ongoing conflicts in the Middle East, LSEG’s trade flows data shows that global corn trade remains strong. Argentina saw record corn exports in March and April, while U.S. sales continue to be robust. Brazil’s corn exports in March hit a five-year high for that month. Ukraine’s export pace has strengthened in April, exceeding last April’s performance. After price surges during late February and March, corn prices have dropped in late March and are fluctuating in response to the developments of the Middle East crisis.

Specifically, Argentina is harvesting a record corn crop (59.4 million metric tons (mmt) by LSEG agriculture research), which indicates abundant corn available for export. In March, Argentina shipped 4.37 mmt of corn—the highest monthly total in three years—while April exports remain strong at 3.17 mmt by April 20. Compared to last year, shipments have increased to regions like Asia (including Vietnam), Europe (such as Spain), Africa (notably Egypt, Algeria, and Morocco), and the Americas (like Chile and Peru). Although overall April exports to the Middle East have dipped slightly both month-o-month and year-on-year, exports to Saudi Arabia—one of the major importers of Argentine corn—have actually risen from last year in both March and April.

U.S. corn weekly net sales have remained robust at around 1.4 mmt. As of April 9, total commitment has reached 72.79 mmt, which includes 22.27 mmt in outstanding sales scheduled for 2025/26 delivery. This good performance is mainly driven by strong purchases from Latin America, Europe (including the Netherlands, Portugal, and Spain), and Asia (notably Japan and South Korea).

In Ukraine, corn exports to the EU have declined significantly compared to last season, following the EU’s reintroduction of a duty-free quota for Ukrainian corn (capped at 1 mmt per year) in October 2025. The decline in exports is also caused by weak EU corn demand, as feed wheat replaces corn for animal feed. Ukraine’s cumulative corn exports have remained below last season. Recently, however, export pace has increased, with April’s exports surpassing those from the previous year. Total exports for 2025/26 are expected to be similar to last year’s low level.

On the other hand, the Middle East crisis has disrupted logistics, increased military risks, and pushed up freight costs, raising corn import costs in the Middle East and Asia. Despite this, March corn imports to the Middle East rose 11% year-on-year to 2.24 mmt, but April imports are expected to decline to 1.68 mmt, compared to 2.08 mmt last year. Iran and Iraq are most affected countries, while Saudi Arabia’s imports remain strong. In Asia, March imports were up 8% year-on-year, but April is expected to decline by 11% month-on-month due to higher import costs.

In summary, the immediate effects of the crisis on corn imports remain limited; however, the ongoing conflict may considerably decrease corn demand in 2026/27, particularly in Iran and other countries experiencing disruptions of economic growth due to the crisis.

 

Brazilian supply strength and cautious Chinese buying anchor global soy trade dynamics

LSEG Research & Insights – Commodities

U.S. soybean exports remain seasonally soft and acutely constrained by competition from cheaper/ample Brazilian supplies, despite recurrent optimism about renewed Chinese buying ahead of the May 14-15 Trump-Xi summit. 2025/26 U.S. export outlook (Sep-Aug) remains markedly weak (pegged at 41.3 million tons, down 18.9% from the previous season), reflecting reduced shipments to China as well as the late-2025 trade disruption. Brazil continues to capture a dominant share of global trade with record production and exports. Chinese imports rose year-on-year in March but lagged expectations due to Brazil’s tightened phytosanitary inspections and delayed arrivals. Market sentiment and futures prices repeatedly found support from hopes that the mid-May Trump-Xi meeting could unlock fresh Chinese demand, but this remains speculative. Iran war developments and Strait of Hormuz disruptions affected energy markets and raised the risk of China avoiding U.S. origin for political/retaliatory reasons, underscoring that export upside is contingent on diplomacy and shipping normalization. Meanwhile, export weakness has been offset by a structural shift toward strong domestic crushing, driven by record U.S. biofuel mandates, which is reshaping soybean demand away from exports. Until tangible Chinese buying materializes, the near-term U.S. export trajectory remains cautious and range-bound.

Brazil’s soybean export dynamics in late March through mid-April were dominant and accelerating, underpinned by a record crop (178.1 million tons) and a rapid post-harvest push to ports, keeping Brazilian origin price-competitive and effectively capping U.S. export opportunities. Shipments rebounded sharply from February lows, with March exports reaching 14.5 million tons and April poised to set an all‑time monthly record, despite persistent logistical bottlenecks, port congestion, and handling constraints. While tighter Chinese phytosanitary inspections caused delays and episodic softening in demand signals, these factors have so far shifted timing rather than volume, with Brazil retaining its role as China’s primary supplier. Currency dynamics added short-term noise (with periods of Real strength slowed farmer selling), but hefty supply, rising crush capacity, and robust soybean meal exports tied to biofuels demand offset those headwinds. Overall, Brazil’s export trajectory remains strong through peak shipping months.

China’s soybean import picture remains steady but cautious, reflecting ample supply options, cautious near‑term demand, and ongoing frictions in trade flows rather than outright shortages. March arrivals rose greatly year-on-year but fell well below market expectations, while January-March imports declined slightly, largely due to delayed Brazilian shipments caused by stricter phytosanitary inspections. These delays pushed expected volumes into later months rather than eliminating demand, with April/May shipments heavily covered as Brazil’s record crop and some U.S. shipments (potentially) reach ports. The highly anticipated Trump-Xi summit during May 14-15 remains the key potential catalyst for any meaningful shift in U.S.-origin buying.

 

 

 

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