Global Ag News For April 7.2026

TOP HEADLINES

Chinese pigs fed new menu as Beijing weans farmers off US soy

• China sees swapping soy for domestic alternatives as a national security issue
• Farmers motivated by cost savings as economic malaise drives down demand
• China imports 80% of its soy needs, with US the second biggest supplier
• Soy prices have soared amid US-China trade frictions, war in Middle East

At the edge of one of the many pig farms spread across the vast, unbroken floodplains of Taizhou, a two-hour drive northwest of Shanghai, a pair of square, four-metre pools of acrid-smelling ochre liquid hold the key to cutting costly soybean use in half.

The pools hold a swill of cheaper, locally sourced ingredients, which can include brans, pumpkin vines and wine lees. But it is fermented – like yogurt – so the proteins are already broken down and easy to digest, lessening the need for the higher-quality proteins in soy, 80% of which China imports.

For the farm’s owner, 47-year-old Gao Qinshan, the motivation is entirely monetary. Feed accounts for 70% of pig rearing costs, and soybean prices have jumped – squeezed by Beijing’s trade stand‑off with Washington and compounded by war in the Middle East.

“Soybean prices have become so unstable,” Gao lamented.

With the industry already hobbled by oversupply and weak consumer demand, “pig farming has become unprofitable,” he said. “Everyone is thinking about how to cut costs.”

The grassroots fixation on overheads belies Beijing’s more strategic motivations: long‑term food security and increased self‑reliance.

The government sharply accelerated a drive to expand protein sources for livestock in March of last year, just as trade tensions ramped up early into President Donald Trump’s second term. Soybeans quickly became a key bargaining chip.

Reuters interviews with dozens of livestock and feed producers, state researchers and industry experts revealed Beijing is moving faster than previously thought to deploy new technologies and promote fermented feed.

It’s the agricultural equivalent of Beijing’s campaign to build domestic capabilities in microchips and artificial intelligence, catalysed by Washington’s stringent controls on advanced technology exports to China.

In terms of agriculture, “the biggest national policy goal right now is soymeal reduction,” said Fu Zhenzhen, a feed analyst at Beijing Orient Agribusiness Consultants.

“The most direct reason for that is the trade war with the United States,” she said. “Fermentation is essential.”

 

FUTURES & WEATHER

Wheat prices overnight are down 5 1/2 in SRW, down 7 3/4 in HRW, down 0 in HRS; Corn is down 3 1/4; Soybeans down 1 3/4; Soymeal down $1.10; Soyoil down 0.12.

For the week so far wheat prices are down 9 1/2 in SRW, down 16 in HRW, down 0 in HRS; Corn is down 1; Soybeans up 2 1/2; Soymeal up $0.50; Soyoil up 1.04.

For the month to date wheat prices are down 26 1/2 in SRW, down 35 in HRW, down 1/5 in HRS; Corn is down 7; Soybeans down 6; Soymeal down $0.90; Soyoil up 0.95.

Year-To-Date nearby futures are up 16.1% in SRW, up 16.5% in HRW, up 11.2% in HRS; Corn is up 2.5%; Soybeans up 13.1%; Soymeal up 7.2%; Soyoil up 45.6%.

Chinese Ag futures (MAY 26) Soybeans up 38 yuan; Soymeal down 20; Soyoil up 54; Palm oil down 4; Corn down 7 — Malaysian Palm is down 50.

Malaysian palm oil prices overnight were down 50 ringgit (-1.04%) at 4761.

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 6 were: SRW Wheat up 4,202 contracts, HRW Wheat up 828, Corn down 2,386, Soybeans up 3,222, Soymeal up 2,153, Soyoil down 2,588.

 

DAILY WEATHER HEADLINES: 06 APRIL 2026

• NORTH AMERICA: There is a consensus for widespread warmth across most U.S. crop regions during the 6-15 day forecast
• SOUTH AMERICA: Wet weather is expected in north/northeastern parts of the Pampas region of Argentina today, while favorable dry weather is expected across most of the region thereafter through 10 days
• BLACK SEA: A largely normal precipitation pattern will favor croplands across the Black Sea region during the next 10 days
• SOUTH ASIA: A largely normal rainfall pattern across India will facilitate wheat harvest operations this week
• TELECONNECTIONS: The Pacific/North American Pattern (PNA) is expected to remain in a negative phase through at least the next two weeks

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

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

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

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

Brazil – Rio Grande do Sul and Parana: Scattered showers Monday-Tuesday. Mostly dry Wednesday-Friday. Temperatures near to above normal through Tuesday, near to below normal Wednesday-Friday.

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

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

Argentina – La Pampa, Southern Buenos Aires: Isolated to scattered showers through Wednesday. Isolated showers Thursday-Friday. Temperatures near to above normal through Friday.

 

The player sheet for 4/6 had funds: net sellers of 2,500 contracts of SRW wheat, buyers of 5,000 corn, sellers of 1,500 soymeal, and buyers of 4,500 soyoil.

TENDERS

• WHEAT PURCHASE: A group of animal feed importers in Thailand was believed to have purchased around 60,000 metric tons of animal feed wheat expected to be sourced from Australia in a tender that closed on April 2, European traders said on Monday.
• RUSSIAN GRAIN SHIP SINKS: A Russian ship carrying wheat that was believed to have sunk in the Sea of Azov after a Ukrainian drone attack has been found and towed to shore, while the death toll from the attack rose to three people, state news agency TASS said on Monday.
• UREA TENDER: India, the world’s largest urea importer, was looking to purchase 2.5 million metric tons of the key crop nutrient to shore up domestic supplies, which have tightened due to the U.S.-Israeli war with Iran. Bids for the tender must be submitted by April 15.

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.
• 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.
• RICE TENDER: South Korea’s state-backed Agro-Fisheries & Food Trade Corp. has issued an international tender to purchase an estimated 65,394 metric tons of rice.

 

 

 

TODAY

US Inspected 2.002m Tons of Corn for Export, 779k of Soybeans

In week ending April 2, according to the USDA’s weekly inspections report.

• Soybeans: 779k tons vs 694k the previous wk, 817k a yr ago
• Wheat: 334k tons vs 386k the previous wk, 335k a yr ago
• Corn: 2,002k tons vs 1,880k the previous wk, 1,613k a yr ago

 

US Corn, Soybean, Wheat Inspections by Country: April 2

Following is a summary of USDA inspections for week ending April 2 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 499k tons of the 779k total inspected
• Mexico was the top destination for corn inspections, and also led in wheat

 

Brazil 2025/26 Soy Harvest 82% Done as of April 2nd: Agrural

Compares with 75% a week earlier and 87% a year before, consultancy firm AgRural says in emailed report.

• “Work is concentrated in Matopiba and Rio Grande do Sul, which have a later schedule,” AgRural says

 

Thailand Restricts Palm Oil Exports as War Stokes Biofuel Demand

Thailand will begin regulating crude palm oil exports as the world’s third-largest producer seeks to secure supplies for biofuel, amid an energy crunch driven by the war in the Middle East that is boosting demand for alternative fuels.

Exporters will be required to obtain prior approval for shipments starting April 7, replacing a permit-free system, the commerce ministry said in a statement on Monday. The move, which will remain in force for one year, will allow the government to better manage domestic palm oil stockpiles “in line with the evolving energy situation and prevent shortages”, it said.

Rising global oil prices due to Middle East tensions are likely to increase demand for biodiesel, said Wittayakorn Maneenetr, director-general of the Internal Trade Department. Thailand is also seeing strong domestic consumption and exports of palm oil, prompting authorities to stabilize cooking oil prices and ensure adequate feedstock for energy use without hurting farmers’ incomes, the statement said.

Meanwhile, governments across Asia are preparing for worst-case energy scenarios that could include a prolonged and severe disruption to supplies, as the Middle East war roils global markets.

Thailand is forecast to produce about 21.87 million tons of palm fruit this year, equivalent to around 3.94 million tons of crude palm oil, according to the commerce ministry. Stockpiles of crude palm oil, at about 371,000 tons, are considered adequate, while bottled palm oil supply remains sufficient for domestic consumption, the ministry said.

 

WHEAT/CEPEA: Prices continue to rise amid tight supply; liquidity is low

Cepea, 6 – Wheat prices continue to rise in Brazil, mainly due to tight supply in the spot market. In Paraná, the average price surpassed BRL 1,280 per ton in late March, returning to levels last seen in mid-September 2025.

Producers remain away from the market, expecting better trading opportunities. Moreover, some farmers are currently focused on summer crop activities, which helps limit liquidity in the spot market.

Wheat mills, in turn, report the need to replenish inventories, especially at the beginning of the month. Therefore, buyers face a tight supply scenario and end up accepting higher prices asked by sellers.

Between March 27 and April 2, in the wholesale market, prices moved down 0.17% in São Paulo, but increased 1.16% in Paraná, 0.86% in Santa Catarina and 1.4% in Rio Grande do Sul. Prices paid to wheat farmers rose 1.02% in PR and 2.68% in RS, while they remained stable in SC. The US dollar dropped by 1.54% against Real in the same comparison, closing at BRL 5.162 on April 2.

Data from Secex indicate that Brazil imported 358.09 thousand tons of wheat in 15 days producing days of March, below the 651.26 thousand tons verified in March 2025. Exports totaled 229.68 thousand tons in the same period, lower than the amount recorded in March last year (246.9 thousand tons).

 

Exports of grain cargo via Russian Railways network rise 17.1% MoM in March

Exports of grain cargo, namely, grain, compound feed, cereals, flour, and other milled grain products, via the Russian Railways network rose 17.1% month-on-month to 2.6 million tonnes in March 2026 from to 2.22 million tonnes in February and 2.07 million tonnes in January, according to transport statistics.

Exports of the main grains, namely wheat, corn, and barley, totaled 2.2 million tonnes in March, including 1.97 million tonnes of wheat.

Domestic grain shipments increased 10.9% month-on-month to 1.11 million tonnes in March from 998,900 tonnes in February and 980,100 tonnes in January, with 462,000 tonnes of the main grains transported, including 286,500 tonnes of wheat.

 

High fuel costs forcing Philippine farmers to abandon harvests

Filipino farmers like Romeo Wagayan have been left with little choice but to let their vegetables rot in the field rather than sell them a loss, as rising oil prices linked to the conflict in the Middle East drive up the cost of harvesting, labour and transport.

“There’s nothing we can do,” said Wagayan, a 57-year old vegetable farmer in the northern Philippine province of Benguet.

“If we harvest it, our losses only increase because of labour, transportation and packing costs. We don’t earn anything from it. That’s why we decided not to harvest at all.”

Soaring costs caused by the Middle East war are piling pressure on Filipino farmers, with the Southeast Asian archipelago particularly vulnerable to oil shocks because of its heavy reliance on imported fuel.

Wagayan’s experience mirrors the challenges faced by many highland farmers, according to Agot Balanoy, an adviser at La Trinidad’s vegetable trading hub, who said that a number of growers are halting harvests as buyers pull out as a result of weak demand and surging costs.

Balanoy said some buyers are cancelling or limiting purchases, reflecting a shift in consumer behaviour as households grappling with soaring inflation cut back on vegetables and opt instead for cheaper, filling alternatives such as instant noodles.

It costs farmers 18 to 20 pesos ($0.2990 to $0.3323) to produce a kilo of cabbage, Balanoy said, covering basic farm inputs such as seeds and fertilisers, but farmgate prices have collapsed to as low as three pesos, and in recent days have hovered at just five to eight pesos per kilo.

The downturn has been exacerbated by the sharp increases in fuel prices, which have pushed up the costs of transporting produce from mountainous farms to trading posts and urban markets, while also driving up the price of farm inputs such as fertiliser.

“The increase in diesel prices has a really big impact on us, both during planting and harvesting,” said 27-year-old vegetable farmer Arnold Capin.

He said long delivery trips often mean farmers are left with little or nothing once the produce is sold.

The latest government data showed that annual inflation in the Philippines surged past 4% in March, up from 2.4% in February, driven largely by hefty increases in fuel prices.

Diesel prices soared 59.5% in March from a year earlier, while gasoline jumped 27.3%, the fastest gains since September 2022, when global energy markets were disrupted by Russia’s invasion of Ukraine. These compare with February declines of 1.3% for diesel and 5.7% for gasoline.

“It’s frightening because you don’t know where you’ll get the money to buy food,” Capin said.

 

China’s coal-based urea insulates its farmers from global fertiliser turmoil

• China has ample urea to support nitrogen-hungry crops like corn
• Domestic urea prices only a third of international benchmarks
• China unlikely to ease export curbs, some analysts say

Farmers around the world may be switching to less nutrient-hungry crops as the Iran war hits the supply of fertilisers, but in China, they’re sitting pretty with plenty of stock thanks to the country’s rather unique reliance on coal to produce urea.

However, some analysts say China may not allow exports of urea – the most widely used fertiliser globally – after spring planting as it normally does, as that could drive up local prices. Beijing typically waits to see if there is a surplus in May before assessing how much can be shipped abroad.

Whereas other big exporters of urea – a nitrogen-based plant nutrient – like Russia, Qatar and Saudi Arabia use gas to produce it, some 78% of China’s urea output is produced with coal – a relatively cheap resource it has in abundance.

“China is largely self-sufficient in urea and it is less exposed to natural gas price volatility than many other producing regions,” said Willis Thomas, head of fertilisers analysis at CRU.

China’s vast deployment of coal – which it also uses to create oil, gas and other products – has been particularly prescient even if it is more polluting than natural gas, as it reduces the need for energy imports that can be cut off in a conflict.

 

India Monsoon Rains Seen Below Normal, Private Forecaster Says

Monsoon rains in India are likely to be below the long-term average this year, as an expected El Niño weather pattern during the four-month season could reduce precipitation, according to a private forecaster.

Rainfall during the June-September period is forecast to be 94% of normal, Skymet Weather Services Pvt. said on Tuesday. The prediction has a margin of error of 5%, it said.

The monsoon is vital for Indian agriculture, helping irrigate fields and replenish reservoirs for winter crops. It supports millions of livelihoods and influences food prices. Weak rainfall in one of the world’s major producers of rice, wheat, sugar and cotton can lead to water shortages, lower yields and higher imports of staples such as edible oils. Climate change is making these annual rains harder to predict.

Deficient rainfall may push farmers to use more diesel for irrigation, raising fuel demand at a time when the Iran war is already driving up global energy costs. Crude prices have surged due to supply disruptions and restricted flows through the Strait of Hormuz.

A spell of extreme heat in the coming weeks, forecast by the India Meteorological Department, ahead of the monsoon’s arrival in early June is also likely to increase fossil fuel consumption as demand for cooling appliances rises.

A monsoon season is considered normal when cumulative rains fall between 96% and 104% of the national average of about 87 centimeters, according to the IMD, India’s official weather forecaster. Rains were above normal last year.

 

WET SPELLS EXPECTED ACROSS BRAZIL; ISOLATED RAINS IN THE PAMPAS

Weather Anomaly Severity: Moderate

Crops impacted: corn, soybeans, coffee, sugar

Preferred model for the next 5 days: EC Op

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

Forecast confidence: Moderate through the next 10 days; low in 11-15-days

Model Change (from previous update):  Wetter for Center West/Southeast Brazil

Significant weather anomalies and crop impact:

Argentina/Paraguay

• The Pampas experienced moderate wet spells (10–55 mm above normal) across the corn and soybean belts, which may have delayed harvesting activities during the past week.
• The Pampas will see cooler weather (1 °C below normal) over the next 5-days, followed by warm (1 °C above normal) conditions in the 6–15‑day period. Paraguay will remain near normal to cooler weather throughout the 10‑day outlook.
• The far northern/central Pampas corn and soybean belts are forecast to see isolated wet spells (up to 10 mm above normal), while the far southern Pampas may experience dry spells (up to 20 mm below normal).
• Isolated wet spells may delay corn/soybean harvesting across the far northern and central Pampas, while dry weather supports harvest progress in the far southern Pampas.
• Western Paraguay will remain wet (10–70 mm above normal), delaying corn/soybean harvest progress.

Brazil

• Warmer and drier conditions (5-30 mm below normal) were observed across the Brazil during the past week.
• Brazil is expected to experience warm conditions (1 °C above normal) over the next 10 days, followed by near‑normal to cooler temperatures (1 °C below normal) in the 11–15‑day period.
• Wet spells (10-60 mm above normal) are expected across Brazil, while far Southern regions are likely to remain drier, with totals 5–25 mm below normal through the next couple weeks.
• Ongoing wet spells in Brazil may support second‑crop corn development but could delay harvesting of first‑crop corn and soybeans.

 

 

 

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