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"Future is at Risk" - Corn Growers Plead for Improved Policy Feb 19, 2026

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🌽 Ag Outlook Forum – Acreage & Yield Estimates
USDA will release its first look at 2026 acreage and yield projections this morning at the Agricultural Outlook Forum. Analysts expect corn acreage near 94.9 million acres with production around 15.9 billion bushels. Soybean acreage is forecast near 84.9 million acres with production pegged at 4.4 billion bushels. Wheat acreage is projected at 44.8 million acres with production near 1.9 billion bushels. These numbers often set the tone for new-crop expectations and market psychology.
🚜 NCGA Warns of Farm Financial Stress
The National Corn Growers Association released a report emphasizing mounting financial pressure across US agriculture. The group argues that many corn farmers are facing multiple years of negative margins amid rising costs and increased volatility. Long-term consolidation trends continue as productivity gains fail to consistently translate into profitability. Off-farm income remains critical for many operations. Demand growth and supportive policy remain central themes.
🌾 Wheat Strength – Weather Concerns
Kansas City wheat futures posted fresh multi-month highs overnight, with nearby contracts reaching their best levels since late summer. Comments from Ukraine’s farmers union regarding winter wheat risks following a thaw and cold snap helped support prices. Wheat continues to show relative strength compared to corn.
📊 Corn & Soybean Price Action
Soybeans briefly traded into fresh multi-month highs, while corn futures remain sluggish ahead of First Notice Day. Spreads, positioning, and technical flows are all in focus as traders manage delivery risk and roll activity.
⛽ E15 Policy Push Continues
Ag groups continue pressing for year-round nationwide E15 sales despite missed legislative deadlines. Advocates argue expanded blends would boost corn demand and potentially reduce fuel costs. Market participants continue to monitor Washington for movement.
🌧️ South American Weather Update
Recent rains improved soybean conditions in southern Brazil and brought relief to dry Argentine areas. Additional precipitation could disrupt harvest pace and second-crop corn planting. Brazilian production estimates remain historically large.
🚢 Argentina Strikes & Logistics
Labor strikes are temporarily disrupting Argentine grain shipments. While these events frequently generate headlines, they historically produce limited lasting impact on global price trends.

Soybeans Trade Multi-Month Highs on Biofuel Chatter Feb 18, 2026

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🌱 Biofuel Mandates & Soybean Strength
The EPA is expected to submit its proposed biofuel blending quotas for 2026 to the White House for final review in the coming days. The Trump administration is working to finalize the delayed mandates by the end of March.
Earlier proposals pointed to a sizable increase in total biofuel volumes and a sharp jump in the biomass-based diesel target. While the agency is now considering a slightly revised range for biomass-based diesel, the numbers still imply substantially stronger demand compared to prior years.
Both old and new crop soybean futures pushed to multi-month highs overnight. Biofuel optimism — combined with ongoing Chinese demand optimism — continues to support prices despite the advancing Brazilian harvest.
🌽 Corn Market Pressure
Corn futures moved lower Tuesday, pressured by improving crop conditions in Argentina following recent rainfall. Weather developments in South America remain a key driver for global feed grain markets.
🌾 Wheat Faces Global Headwinds
Chicago wheat futures also weakened. Pressure stemmed from an increased Russian crop outlook and news that India will allow limited wheat exports. Seasonal demand softness tied to the Lunar New Year added additional weight to the market.
🚢 Port of Los Angeles & Soybean Flows
U.S. soybean shipments to China through the Port of Los Angeles remain extremely light. Flows through the port fell sharply last year and showed little recovery late in the year.
The Port of LA typically handles only a very small share of total U.S. soybean exports. The Gulf continues to dominate shipment volumes, followed by the Pacific Northwest. Brazilian soybeans remain competitively priced on the world market, influencing global trade flows.
📦 Export Inspections Update
U.S. corn shipments exceeded expectations for the second straight week, while soybean inspections remained strong and near the upper end of forecasts. China accounted for a significant portion of weekly soybean movement. Seasonal export patterns remain important to monitor.
🛢️ NOPA Crush & Soybean Oil Stocks
NOPA reported a record January soybean crush for the month. Processing margins and domestic demand continue to drive historically large crush volumes.
Soybean oil stocks increased sharply and now sit at their highest level in quite some time—an important factor for biofuel and vegetable oil markets moving forward.

USDA: Corn to Stay Below $4.50 for 10 Years Feb 17, 2026

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🌽 USDA Long-Term Projections (Out to 2035)
USDA released its annual baseline projections, and the acreage outlook immediately caught traders’ attention. The agency pegged 2026 corn acres at 95 million, sharply lower year-over-year, while soybean acres were projected at 85 million, implying a notable shift toward beans. Also raising eyebrows: USDA does not project an average farm price for corn above the mid-$4 range at any point through 2035. These projections assume “normal” conditions and are intended for planning and budgeting, but they often influence long-term sentiment.
🚜 The Future of US Farms & Ranches
A major Wall Street Journal feature highlighted a growing structural issue in American agriculture: succession. A large share of farms reportedly have no clear next-generation operator, while the producer population continues to age. Consolidation trends remain strong, with more operations being sold or leased to larger entities. Over time, this could accelerate the shift toward landlord-tenant and contract production models, reshaping rural communities and land markets.
📊 Fund Positioning – CFTC Commitment of Traders
Money managers were active buyers again. Funds added to net long positions in both corn and soybeans, with soybean length expanding to its largest level in weeks. Wheat, meanwhile, saw modest selling pressure. Changes in speculative positioning can heavily influence short-term price behavior and volatility.
🇧🇷 Brazil Crop & Planting Progress
Brazil’s soybean harvest remains slower than last year amid persistent rainfall delays. Safrinha corn planting is also trailing the prior pace. Weather-related slowdowns at this time of year often feed into global supply expectations and can influence export competition dynamics.
🇺🇸🇨🇳 US-China Trade & Soybean Demand Signals
Diplomatic engagement between US and Chinese officials continues ahead of the anticipated Trump-Xi meetings later this spring. Reports of a potential extension of the trade truce have supported optimism regarding Chinese demand for US soybeans. Markets remain sensitive to any indications of purchase targets, policy shifts, or rhetoric changes.
🔥 Energy Markets – Natural Gas Pullback
Natural gas prices have eased following a warmer weather outlook after January’s weather-driven rally. Storage deficits persist, however, providing underlying support. Energy markets can indirectly influence fertilizer, input costs, and broader commodity sentiment.

Brazil is Harvesting 6.6 BILLION Bushels of "Cheap" Soybeans - Why are Prices Rallying?? Feb 13, 2026

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🌱 Soybean Market Rally
Soybeans moved sharply higher following a South China Morning Post report hinting that the US–China trade truce could be extended when Trump and Xi meet in April. President Trump recently suggested China may boost US soybean purchases to 20mmt, but skepticism remains as Brazilian beans continue to dominate global offers at a discount.
🌽 Export Sales Breakdown
Corn export sales were a clear bright spot, easily beating expectations with Japan leading the charge. Soybean sales, however, slipped to a marketing-year low despite China showing up as the largest buyer. Wheat sales posted modest improvement. What does this mixed demand picture mean going forward?
🌎 South America Weather & Production
Argentina’s crops are still in a weather-critical window, with dryness raising concern about yield potential. Meanwhile, Brazil continues to stack record production, with Conab raising its soybean estimate again. Harvest is advancing — and global supply pressure is building.
🥩 Beef Industry Developments
Cargill is closing its Milwaukee processing facility, adding to the growing list of plant slowdowns and shutdowns. With the US cattle herd near historic lows, the livestock sector faces tightening dynamics that could reshape margins and price behavior.
☀️ Drought Monitor Update
Large portions of the Corn Belt saw limited precipitation, while drought conditions worsened in parts of Illinois, Iowa, Nebraska, and Kansas. We review what this means as the growing season approaches.
🚢 Flash Sale to Egypt
USDA reported new soybean business to Egypt. How significant is this sale in the broader demand landscape?

US and China to Extend Truce - MORE Soybean and Sorghum Purchases?? Feb 12, 2026

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🌏 Global Market Developments
Chinese media hinted that the U.S.–China trade truce may be extended, while officials confirmed discussions around a potential presidential visit. Optimism surrounding trade stability helped support soybean prices overnight, with futures probing fresh multi-month highs.
🚢 Demand & Trade Flows
China’s appetite for U.S. sorghum continues to generate buzz. Reports suggest strong buying interest tied to tight domestic feed supplies and lingering quality issues in China’s corn crop. Notably, China has still shown little interest in U.S. corn, keeping alternative grains in focus.
⛽ Biofuels & Energy Markets
Marine fuel demand is gaining attention as a potential growth engine for biofuels. With global shipping facing mounting emissions pressure, renewable diesel and ethanol are increasingly part of the debate. Industry participants continue to question how easily existing engines could adapt.
🏛 Policy & Regulatory Watch
Corn grower groups are pressing the Department of Justice for clarity on its fertilizer industry investigation. Producers argue that input costs and market concentration remain critical issues ahead of the next planting season.
📦 Supply, Production & Margins
Ethanol production rebounded last week while margins improved across key regions. Stocks also moved higher, reflecting shifting operating conditions and steady blending demand.
🌽 Export Activity
USDA announced another flash sale of corn to unknown destinations, reinforcing the strong pace of export commitments and ongoing demand beneath the market.

Yes, Foreign Countries Still Want LOTS of Grain from the United States Feb 11, 2026

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🌎 Soybeans
Soybean futures advanced on Tuesday, with the most heavily traded Mar26 contract gaining nearly 12 cents to settle near $11.23 per bushel. Strength was tied largely to continued optimism surrounding Chinese demand after last week’s signals that China may boost this season’s US soybean purchase target. The rally came despite USDA leaving its US soybean export, crush, and ending stocks projections unchanged. Meanwhile, USDA raised its Brazilian soybean production outlook to 180 mmt.
🌽 Corn
USDA reduced its outlook for US corn ending stocks, primarily reflecting stronger export expectations. The adjustment provided modest underlying support to the corn market.
🌾 Wheat
Wheat balance sheets saw minimal changes, with ending stocks estimates largely steady.
🏛️ US–China Developments
US Treasury staff visited China last week to reinforce communication between Washington and Beijing. Discussions centered on preparations for a future meeting between Treasury Secretary Scott Bessent and Chinese Vice Premier He Lifeng. While no official date or location has been announced, the meeting is expected in the coming weeks. President Trump also recently described a productive phone call with President Xi Jinping, during which China again referenced the possibility of larger US soybean purchases.
🏗️ US Grain Storage Capacity
The University of Illinois highlighted a growing structural concern within US grain markets. After nearly two decades of steady growth, US grain storage capacity has largely stopped expanding. At the same time, crop production continues to trend higher, tightening the margin between production and available storage. Elevated construction costs, higher interest rates, and long-term production uncertainty appear to be limiting investment. If this dynamic persists, the industry may face greater basis volatility and logistical bottlenecks.
🇧🇷 Brazil Inflation & Interest Rates
Brazilian inflation moved modestly higher in January, with consumer prices rising annually and remaining above the central bank’s target. Despite inflation pressures, policymakers continue to signal that rate cuts may begin in March. Markets remain divided on the pace of easing. Brazil’s benchmark interest rate remains historically high, helping shape currency flows and global competitiveness.
🐄 Brazil Beef & Feedlot Expansion
Brazil’s cattle feeding sector continued its rapid expansion. Feedlot placements rose sharply last year, reflecting an ongoing shift toward more grain-intensive production systems. Brazil has strengthened its position in global beef markets, remaining the world’s largest exporter with China as its dominant customer. Shipments to the US also increased significantly amid tight domestic cattle supplies.

MORE Soybeans Sold to China - Were Trump and Bessent Telling the Truth?? Feb 10, 2026

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🌱 Grain Markets
China returned to the U.S. market on Monday with a flash sale of 264,000 mt (10 million bushels) of corn for delivery during the 2025/26 marketing year.
Despite the headline, soybean futures ended lower, with the Mar ’26 contract down nearly 5 cents to settle near $11.11.
Official U.S. soybean sales to China now stand at 10.15 mmt (accumulated export sales plus Monday’s flash sale). Roughly half of the 3.1 mmt sold to unknown destinations will likely be tagged to China, pushing total sales to ~11.7 mmt, very close to the White House’s 12 mmt target.
President Trump’s recent comments suggest China could ultimately push current marketing-year purchases toward 20 mmt.
🚢 Export Inspections
Corn: 1.3 mmt (51 mil bu)
⬆️ 14% vs prior week | ⬇️ 4.2% vs last year
Soybeans: 1.1 mmt (42 mil bu)
⬇️ 14% vs prior week | ⬆️ 3.5% vs last year

China accounted for ~66% of total inspections. Soybean shipments to China included 3 PNW cargoes and 9 Gulf cargoes.
Wheat: 580,130 mt (21 mil bu)
⬆️ 76% vs prior week | ⬆️ 1.7% vs last year
📊 USDA Preview
The USDA will release its Crop Production and WASDE report today at 11:00am CST.
Expectations:
U.S. corn ending stocks: unchanged
U.S. soybean ending stocks: slightly lower
U.S. wheat ending stocks: modestly lower
World stocks: mostly unchanged
Brazil corn & soybean production: likely revised higher
🛢️ Soybean Oil & Crush
Soybean oil rallied to its highest level in over six months following news that the U.S. and India reached a trade agreement that would reduce or eliminate duties on several U.S. ag products, including soybean oil.
India is the world’s largest edible oil importer, buying roughly 16 mmt annually. Prices could strengthen further once the agreement is finalized, though a record Brazilian soybean crop and rapidly advancing harvest may limit upside.
🚜 Farm Economy
Farm bankruptcies rose sharply in 2025, climbing 46% year over year to 315 filings, marking the second straight year of increases.
The Midwest and Southeast led the way, with Iowa, Missouri, and Nebraska posting the highest totals. Between 2017 and 2024, roughly 160,000 U.S. farm operations exited the industry. With losses expected to persist across most crop sectors, bankruptcies and farm exits are likely to increase again in 2026.

Trump AGAIN Fights High Beef Prices - Is He Really Fighting the US Cattle Producer?? Feb 09, 2026

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🥩 Cattle & Beef
President Trump signed an executive order allowing up to 100,000 metric tons of Argentine beef to enter the U.S. this year under a lower tariff rate. The goal is to reduce retail beef prices.
• Imports will consist only of lean beef trimmings, used primarily in ground beef
• A similar move last fall triggered sharp selloffs in cattle futures
• Beef prices did not fall meaningfully last time
• Markets will be watching closely to see if funds react again
🌱 Soybeans
Soybeans rallied for a third straight session on Friday.
• The Mar26 contract settled near $11.15, the highest since early December
• The rally followed Trump’s comments suggesting China may boost U.S. purchases to 20mmt
• Traders remain skeptical China will follow through
• Brazil’s record crop continues to hang over the market
🌽 Corn & 🌾 Wheat
Corn and wheat futures ended the session lower.
• No fresh bullish catalysts
• Focus remains on demand, fund positioning, and policy developments
🇺🇸🇨🇳 Geopolitics
Trump’s planned April visit to China may be at risk.
• The U.S. is preparing a potential $20B arms sale to Taiwan
• This follows an $11B package approved in December
• China has criticized the move, warning it could strain relations
• Trade talks could become more complicated if tensions escalate
🇮🇳 India Trade
India is considering limited ag-market access for U.S. products.
• Possible tariff reductions on soybean oil and DDGS
• India continues to block imports of GM food crops like soybeans and dairy
• Indian farmers are pushing back, citing risks to small producers
🇧🇷 Brazil Weather & Crop
Brazil’s soybean harvest is moving fast.
• ~17% harvested vs ~10% this time last year
• Yields remain strong across most regions
• StoneX projects a record 181.6mmt crop
• Argentina remains dry but rain is forecast over the next 10 days
📊 CFTC & Funds
The latest CFTC report showed modest fund buying, but it’s already outdated.
• Funds were net buyers of corn, soybeans, and SRW wheat during the reporting window
• Post-report price action suggests positioning has shifted significantly
• Private estimates now show large specs heavily long soybeans
⛽ Ethanol & E15
The push for year-round E15 sales continues.
• E15 accounts for ~30% of Iowa fuel sales
• Usage is growing roughly 45% annually
• Draft legislation expected by mid-February
• Political divisions could slow progress

Why Everyone HATES the Soybean Rally Feb 06, 2026

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🌱 Soybeans Lead the Rally
Soybean futures pushed higher again Thursday, building on momentum from President Trump’s comments suggesting China could increase U.S. soybean purchases this season. While some traders are buying into the optimism, others remain skeptical that verbal commitments will turn into real demand—especially during Brazil’s peak export window. Corn and wheat futures also finished the session higher.
💰 USDA: Farm Profits Jump on Government Payments
USDA’s Economic Research Service says farm income rebounded last year, largely due to a sharp increase in direct government payments. Looking ahead, USDA expects farm income to level off somewhat, with payments remaining elevated relative to recent years.
⚖️ Fertilizer Prices Under DOJ Scrutiny
The Iowa Corn Growers Association is pressing the Department of Justice for updates on its investigation into fertilizer pricing. The group says high input costs are adding to financial stress across farm country and wants clarity on whether consolidation in the fertilizer industry is limiting competition.
🚢 Export Sales Remain Soft
Weekly export sales were underwhelming across the board. Corn sales declined again, soybean sales hit a marketing-year low, and wheat sales came in near the bottom of expectations. While China was the top soybean buyer for the week, overall demand remains sluggish.
🌧️ Drought Still a Concern
Cold temperatures limited drought improvement despite some recent precipitation. Frozen soils and low Mississippi River levels continue to restrict barge traffic, while drought conditions across the High Plains remain largely unchanged.

Soybean Shorts Get "Trump-Slapped" - YUGE Rally!! Feb 05, 2026

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🌱 China & US Soybeans
China is considering boosting US soybean purchases. In a Truth Social post Wednesday, Donald Trump said China may raise its current-season buying target from 12 mmt to 20 mmt, sparking a sharp rally in soybean futures.
That said, it’s far from certain those additional purchases actually happen. After recently fulfilling its initial commitment, China has shifted back to cheaper South American supplies. Brazil is on track for a record soybean crop, keeping Brazilian prices attractive during the heart of their export window.
China has so far purchased 9.65 mmt of US soybeans for this marketing year, with a large share still unshipped. Trump’s comments imply potential additional buying before the August 31 marketing-year end — but the big question remains:
➡️ Will China really buy and ship US soybeans during peak Brazilian export season?
➡️ Are we headed toward a rare contra-seasonal export program tied to trade tensions?
Price action suggests optimism — even as many traders and analysts remain deeply pessimistic.
🚜 Farm Crisis Concerns Grow
Former US farm leaders and lawmakers are sounding the alarm on the worsening farm economy. In a letter to the Trump administration, former US Department of Agriculture officials and industry leaders warned of a potential “widespread collapse of American agriculture.”
They cited rising input costs and abundant global grain supplies that have pushed prices low enough for farmers to lose money three years in a row. The Federal Reserve Bank of Kansas City reported that average farm operating loan sizes jumped sharply last year.
While $12 billion in Farmer Bridge Assistance payments are set to go out soon, most agree the aid will only cover a fraction of producer losses.
🌽 Ethanol Production Slumps
US ethanol production fell hard last week, driven by plant slowdowns tied to high natural gas prices, limited availability, and severe winter weather. Output dropped well below the prior week and last year’s levels.
Ethanol stocks declined, while margins actually improved across much of the Corn Belt. According to Reuters data, margins range from modestly negative to modestly positive when factoring in corn, DDGs, and inputs.
🐄 Texas Braces for Screwworm Threat
Texas ranchers are preparing for a potential return of New World screwworm. Since late December, 20 cases have been confirmed in Tamaulipas, Mexico — just south of the Texas border. The threat prompted Greg Abbott to issue a disaster declaration to unlock state resources.
Screwworm could cost Texas cattle producers hundreds of millions and hit the broader state economy even harder. The USDA plans to release glow-in-the-dark sterile flies in northern Mexico and south Texas, but full eradication would take years. Meanwhile, the continued ban on Mexican feeder cattle imports is adding further support to cattle prices.
🌾 Corn Flash Sale
USDA also reported a flash sale of corn Wednesday. Exporters sold 130,480 mt to unknown destinations for 2025/26 delivery. Total accumulated corn sales are running well ahead of last year’s pace.

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