Global Ag News For March 10.2026

TOP HEADLINES

JBS workers to strike at US beef plant as consumers face record prices

About 3,800 JBS meatpacking workers in Greeley, Colorado, plan to go on strike starting on March 16, the workers’ union said on Monday, crippling production at one of the largest U.S. beef plants as consumers face record-high prices.

The labor disruption pits a workforce made up largely of immigrants against the world’s largest meat company, and it has already driven ranchers to deliver cattle to alternate facilities.

Beef prices set records this year after the nation’s cattle supply dropped to a 75-year low. Meatpackers including JBS benefit from climbing prices but also must pay record costs to buy cattle to slaughter.

JBS in November reported third-quarter profit of $581 million, down from $693 million a year earlier.

“While customers are paying more than they ever have, none of that is trickling down to the frontline worker that’s actually doing all the heavy work,” said Kim Cordova, president of the United Food and Commercial Workers Local 7 union that represents workers in Greeley.

JBS has participated in unfair labor practices and not negotiated fairly on a new contract over the past eight months, Cordova said. Workers sought wages that keep pace with inflation and wanted the company to stop charging them for replacing protective equipment they wear to do their jobs safely, she said.

JBS said it complies with labor laws, sought to reach a fair agreement, and charges employees for protective equipment that is lost or maliciously damaged.

“We stand by the offer we presented,” JBS said. “It is strong, fair, and consistent with the historic national contract reached in 2025.”

Last year, unionized meatpacking workers at multiple plants ratified a first-ever national contract with JBS. However, workers in Greeley already had some benefits in that contract, including sick leave, Cordova said.

JBS said it was now adjusting cattle deliveries and processing schedules at Greeley and shifting production to other facilities to meet customer needs.

The company did not slaughter cattle at the plant on Monday. Cattle feeders said JBS canceled slaughtering in Greeley for the whole week, and one feeder said he was delivering livestock to a company facility in Cactus, Texas, instead.

“We’ve got way more kill space than finished cattle ready to slaughter,” said Corbitt Wall, a livestock market analyst for DVAuction. Ranchers will “just move them somewhere else.”

Rival meatpacker Tyson Foods closed a massive beef plant in Nebraska this year.

FUTURES & WEATHER

Wheat prices overnight are down 6 3/4 in SRW, down 5 1/2 in HRW, down 1/8 in HRS; Corn is down 3 3/4; Soybeans down 3; Soymeal up $1.10; Soyoil down 0.15.

For the week so far wheat prices are down 20 1/2 in SRW, down 9 1/4 in HRW, down 0 in HRS; Corn is down 10 1/2; Soybeans down 7 1/2; Soymeal down $2.30; Soyoil down 0.71.

Markets finished last week with wheat prices up 22 1/4 in SRW, up 36 in HRW, up 1/5 in HRS; Corn is up 3 1/2; Soybeans up 22 3/4; Soymeal up $0.20; Soyoil up 3.05.

For the month to date wheat prices are up 5 in SRW, up 33 3/4 in HRW, up 1/5 in HRS; Corn is up 1 1/2; Soybeans up 22 1/2; Soymeal down $5.90; Soyoil up 4.10.

Year-To-Date nearby futures are up 17.9% in SRW, up 18.1% in HRW, up 10.5% in HRS; Corn is down 1.2%; Soybeans up 14.1%; Soymeal up 4.9%; Soyoil up 34.2%.

Chinese Ag futures (MAY 26) Soybeans down 69 yuan; Soymeal down 44; Soyoil down 206; Palm oil down 108; Corn down 27 — Malaysian Palm is down 139.

Malaysian palm oil prices overnight were down 139 ringgit (-3.04%) at 4428.

 

There were changes in registrations (41 Soybeans). Registration total: 34 SRW Wheat contracts; 94 Oats; 689 Corn; 523 Soybeans; 1,236 Soyoil; 229 Soymeal; 108 HRW Wheat.

Preliminary changes in futures Open Interest as of March 9 were: SRW Wheat down 9,348 contracts, HRW Wheat down 2,931, Corn up 38,787, Soybeans down 4,779, Soymeal down 1,712, Soyoil up 8,973.

 

HEAT RISKS WILL INCREASE INTO LATE MARCH ACROSS ARGENTINA AND SOUTHERN BRAZIL, WHILE HEAVY RAINS TO THE NORTH WILL PERSIST

Weather Anomaly Severity: High (Brazil flooding)

Crops impacted: corn, soybeans, coffee, sugar

Preferred model for the next 5 days: GFS Op

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

Forecast confidence: Low throughout 15 days due to uncertainty from Argentina into Southern Brazil.

Model Change (from previous update): Drier in Southern Brazil, wetter to the north.

Brazil – Rio Grande do Sul and Parana: Isolated showers through Friday. Temperatures near to below normal through Thursday, near normal Friday.

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

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

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

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

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

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

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

 

The player sheet for 3/9 had funds: net sellers of 6,000 contracts of SRW wheat, sellers of 26,500 corn, sellers of 8,500 soybeans, sellers of 3,500 soymeal, and sellers of 3,000 soyoil.

TENDERS

• BARLEY TENDER: Turkey’s state grain board TMO issued an international tender to purchase and import about 175,000 metric tons of animal feed barley, European traders said. The deadline to submit price offers is March 13.
• CORN TENDER: Turkey’s state grain board TMO issued an international tender to purchase and import 280,000 metric tons of animal feed corn, European traders said. The deadline for submission of price offers is March 16, they added.
• WHEAT TENDER: Algeria’s state grains agency OAIC issued an international tender to buy a nominal 50,000 metric tons of soft milling wheat for shipment to two ports only, European traders said on Sunday. The shipment to two ports generally indicates a small purchase is planned, traders said. The deadline for submission of price offers in the tender is March 10, with offers having to remain valid until March 11.

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 is March 10.
• 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 is March 11.
• RICE TENDER: South Korea’s state-backed Agro-Fisheries & Food Trade Corp issued an international tender to purchase an estimated 74,382 metric tons of rice, European traders said. Of the total, about 33,300 tons should be sourced from the United States, about 22,200 tons from China and the rest from Australia, Vietnam and Thailand. The deadline for submissions of price offers is March 11.
• SOYBEAN TENDERS: South Korea’s state-backed Agro-Fisheries & Food Trade Corp issued international tenders to purchase around 45,000 metric tons of food-quality soybeans free of genetically-modified organisms, European traders said. The soybeans are sought from any worldwide origins with 20,000 tons to be shipped in containers and 25,000 tons in bulk. The deadline for submissions of price offers is March 12.
• RICE TENDER: The state purchasing agency in Mauritius issued an international tender to buy 8,000 metric tons of long-grain white rice sourced from optional origins, European traders said. The deadline for submission of price offers is March 13.

 

 

TODAY

US Inspected 1.518m Tons of Corn for Export, 879k of Soybeans

In week ending March 5, according to the USDA’s weekly inspections report.

• Wheat: 496k tons vs 355k the previous wk, 242k a yr ago
• Soybeans: 879k tons vs 1,162k the previous wk, 857k a yr ago
• Corn: 1,518k tons vs 1,859k the previous wk, 1,844k a yr ago

 

US Corn, Soybean, Wheat Inspections by Country: March 5

Following is a summary of USDA inspections for week ending March 5 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 411k tons of the 879k total inspected
• Mexico was the top destination for corn inspections, China led in wheat

 

Kansas, Oklahoma, Texas Winter Wheat Crop Conditions: USDA

The USDA posts winter wheat conditions data on website for week ending March 8.

• Kansas good/excellent rating cut to 56% from 58%
• Oklahoma rating upgraded to 24% from 19%

 

China January-February soybean imports down 7.8% on slow Brazil harvest, customs delays

China’s soybean imports fell in the first two months of the year, weighed down by most U.S. shipments yet to arrive, slower Brazilian harvests, and extended customs clearance, analysts said.

Imports are expected to recover in the coming months as more U.S. shipments reach Chinese ports and Brazil’s record crop comes on stream.

China combines data for January and February to smooth out the impact of the Lunar New Year holiday, which may fall in either month in a given year.

 

China’s Corn Demand Improves as Operations Resume After Break

Corn demand and prices are rising in China as feed producers and processors resume operations, according to a monthly report from the country’s agriculture ministry released on Tuesday.

• The restart of production comes after a nine-day Lunar New Year holiday
• Soybean consumption is also improving as traders rebuild stockpiles after the break, the ministry said in its China Agricultural Supply and Demand Estimates report
• China’s cotton supplies are expected to tighten in the new crop year due to shrinking output in the Xinjiang region in northwestern China, the top grower of the fiber
• Estimates for output, imports and consumption of corn, soybeans, and edible oils in 2025/26 remained unchanged

 

Brazil 2025/26 Soy Harvest 51% Done as of March 5: Agrural

Compares with 39% a week earlier and 61% a year before, consultancy firm AgRural says in emailed report.

• Winter corn seeding is at 82% in the Center-South region, compared to 66% a week before and 92% in the same period last year
  • “Despite producers’ efforts to speed up machinery and avoid extending work beyond the ideal window, the pace in the region remains the slowest since 2022,” AgRural says
  • “Furthermore, there is concern in some areas of Paraná and Mato Grosso do Sul due to a lack of moisture”
• 2025/26 corn harvest is 42% complete in the Center-South, versus 36% a week earlier and 54% a year before

 

Malaysia’s Feb palm oil stocks drop to four-month low as output falls

Malaysia’s palm oil inventories fell for a second month in February to the lowest in four months, as a seasonal drop in production outweighed slower exports and a surge in imports, the industry regulator said on Tuesday.

Falling inventories in the world’s second-biggest producer of the tropical oil could support benchmark Malaysian futures. FCPOc3POI/

Malaysia’s palm oil stocks fell 3.9% in February from the previous month to 2.70 million metric tons, the lowest level since October, the Malaysian Palm Oil Board (MPOB) said.

Crude palm oil production declined 18.6% from January to 1.28 million tons, while palm oil exports fell 22.5% to 1.13 million tons, the MPOB said.

A Reuters survey had forecast inventories at 2.63 million tons, with output seen at 1.3 million tons and exports at 1.18 million tons.

Malaysia’s imports in February more than doubled from a month earlier to 76,276 tons, limiting the decline in stocks.

The imports surged as Indonesian palm oil was cheaper than Malaysian supplies, with sellers rushing to ship cargoes before additional export levies became effective in March, said Anilkumar Bagani, research head at vegetable oil broker Sunvin Group.

Indonesia has raised its crude palm oil export levy to 12.5% of the CPO reference price from 10%, a move officials have said aims to finance an increased biodiesel blending mandate.

Malaysian stocks are likely to fall further in March as production declines, though the extent of the drop will also depend on exports, said a Mumbai-based dealer with a global trade house.

“Exports in the first 10 days were higher than last month, and the ongoing conflict in the Middle East could boost palm oil demand even though it has become as expensive as soyoil,” the dealer said.

Rising crude oil prices and higher freight rates driven by the Middle East conflict could boost demand for palm oil from the biodiesel sector and for food use, industry officials told Reuters.

 

Ukraine Starts Crop-Planting Campaign, But With Delays: Official

Ukraine has started this year’s planting campaign, though in most regions it’s expected to be delayed due to frozen soil and longer snow cover, Ukraine’s Deputy Economy Minister Taras Vysotskyi said in a televised comments.

• Still, farmers are conducting fieldwork, and have necessary supplies of fuel, seeds and other resources
• The possible increase in fuel costs currently doesn’t have a critical impact on production, according to Vysotskyi
  • “Fuel in the cost structure of individual crops can account for 10%–15%, so even if it increases in price, the impact on the final cost of production is estimated at only 1%–2%,” he said
• Most winter crops have successfully overwintered
  • “Even in regions with greater losses, this does not pose a threat to farm operations, as winter crops usually occupy only 20%-30% of the crop structure,” Vysotskyi said

 

Governors Ask EPA for Emergency Waiver for Higher Ethanol Gas

Seven governors are asking the US Environmental Protection Agency to provide a nationwide emergency waiver for higher-ethanol gasoline during the next few months due to “ongoing fuel supply shortages.”

• The governors are asking that EPA issues waivers for E15, and that those waivers also allow E10 to exceed the applicable Reid Vapor Pressure standard, according to a letter seen by Bloomberg dated March 6
• “The extreme and unusual fuel supply circumstances caused by the ongoing war in Ukraine, Iran, and other geopolitical tensions will create volatility and unpredictability for US and global stocks of crude oil and petroleum products,” the governors wrote in the letter.
  • “Our consumers need reliable and affordable fuel options, like E15, during the busy summer driving season”
• The letter was signed by Republican Governors Kim Reynolds of Iowa, Jim Pillen of Nebraska, Mike Kehoe of Missouri and Larry Rhoden of South Dakota
  • Letter is also signed by Democrats Tony Evers of Wisconsin, Tim Walz of Minnesota and JB Pritzker of Illinois
  • Spokespeople for the governors didn’t immediately respond to requests for comment
• “We have received the letter and will respond through the proper channels,” said EPA spokesperson Brigit Hirsch
• The crack spread between gasoline and crude oil tumbled nearly 27% over the past two sessions from multi-year highs as concerns over gasoline-stockpile shortages appeared to ease
  • Part of that easing was tied to market speculation over the potential for a butane waiver to help sustain gasoline output at lower cost, traders said
• The agriculture and oil industries have clashed over biofuel policies, which can boost profits for farmers while adding to refiner costs
• Note: Temporary fuel waivers are typically allowed to address fuel supply disruptions

 

Biodiesel turns cheaper than imported diesel in Brazil amid debate over higher mix

The cost of imported diesel in Brazil has surpassed the price of biodiesel, a survey showed on Monday, a rare scenario that provides additional arguments for farm lobbies backing a proposed hike in the mandatory mix of the biofuel in the fossil fuel.

A spike in diesel prices is emerging as the most immediate threat to Brazil’s farm sector from the U.S.-Israeli attacks on Iran, raising costs for producers harvesting a record soybean crop amid an imbalance between domestic and external fuel prices.

Biodiesel in Brazil was quoted at an average of 5.4881 reais ($1.06) per liter on Monday, versus 5.6740 reais ($1.10) per liter for imported diesel, according to a survey from consultancy firm Raion Consultoria shared with Reuters.

“From a technical standpoint, there is room for increasing the mix, but to do that, you have to convince the government,” said Eduardo Oliveira de Melo, managing partner at Raion Consultoria, adding the decision is usually political.

Agriculture lobby CNA has requested the government to “urgently” increase the mandatory biodiesel mix in diesel to 17% from the current 15% to mitigate the impact of rising oil prices in the diesel market. The mix is set to rise to 16% later this year, according to an official schedule.

The head of fuel imports lobby Abicom, Sergio Araujo, said now is not the time to increase the mix. He added that, when including costs such as logistics expenses, the move would trigger higher diesel prices to final customers.

Abicom, together with fuel distributors and gas station lobbies, backs a different proposal, seeking the government to allow biodiesel imports, which are currently banned, to a limit of up to 20% of Brazil’s demand.

 

India to Ensure Fertilizer Availability at Affordable Rates

India’s federal government committed to shield farmers from international market fluctuations and ensure availability of key fertilizers at affordable rates for the ongoing season.

• Availability of phosphatic and potassic fertilizers has remained adequate across the country as of March 5, Anupriya Patel, minister of state for chemicals and fertilizers said in a written reply in the parliament on Tuesday
  • DAP availability stands at 7.19m tons against a pro-rata requirement of 5.14m tons
  • NPKS availability at 10.84m tons vs 7.65m tons requirement
• Maximum retail price of di-ammonium phosphate has been maintained at 1,350 rupees per 50 kg bag, she said
  • Govt has implemented special provisions of 3,500 rupees per ton to cover other costs

 

Brazil farmers face diesel cost jump as Middle East conflict lifts oil prices

A spike in diesel prices is emerging as the first and most immediate threat to Brazil’s farm sector from the U.S.-Israeli attacks on Iran, raising costs for producers harvesting a record soybean crop and planting corn they cannot afford to delay.

Brazil imports about 30% of its diesel needs, leaving farmers exposed as domestic fuel costs rise alongside global oil prices, representatives of major agricultural groups said.

The conflict comes at a sensitive time for Brazilian agriculture, when demand for diesel is at its peak. Farmers are hauling soybeans to market, harvesting remaining fields and wrapping up planting of the second corn crop, which accounts for most of the corn grown in the country.

Brazil is the world’s largest soybean exporter and a major corn supplier, making any disruption to farm operations significant for global grain markets.

Those activities cannot be postponed, industry officials said, nor can other fieldwork such as applying fertilizers and pesticides, which also depends heavily on diesel.

“Right now, the main issue is the price of diesel. We saw oil move from around $80 to the $100-per-barrel range, and that has caused alarm in the countryside,” Bruno Lucchi, technical director at farm lobby CNA, told Reuters.

Oil prices jumped above $119 a barrel on Monday before easing somewhat. By around 2 p.m. local time, Brent crude was still up more than 7%, trading near $100 a barrel.

The rise in diesel prices is already being felt even though Petrobras PETR3.SA, which supplies most of the market, has not yet changed its prices. Farmers have also reported diesel delivery problems in Rio Grande do Sul, with some suppliers allegedly restricting sales as higher oil prices push up costs.

Lucchi said higher costs or disruptions to nitrogen fertilizer imports from Iran, due to risks in the Strait of Hormuz, were manageable for now because farmers had already secured supplies for the current season and could delay new purchases.

Diesel, however, is an immediate problem. Cleiton Gauer, superintendent at Mato Grosso farm economy institute Imea, said producers need fuel now to keep fieldwork moving. Diesel and lubricants typically account for about 5% of farm operating costs, he said.

Lucchi said he had received reports of pump prices rising by about 1 real per liter across Brazil’s center-west and southern regions, with some cases up as much as 1.5 reais.

 

Middle East conflict could spur palm oil demand from biodiesel sector

Rising crude oil prices and higher freight rates driven by the Middle East conflict could boost demand for palm oil from the biodiesel sector and for food use, as Asian buyers seek prompt shipments, industry officials told Reuters.

Indonesia and Malaysia’s output rose to a record high in 2025, swelling stocks and weighing on prices. But the conflict has suddenly made palm oil attractive to the biodiesel industry, pushing prices to their highest level in more than a year.

“Palm oil is now trading at a steep discount to gasoil, with the current spread lucrative enough to boost demand from the biodiesel industry,” said Anilkumar Bagani, research head of Mumbai-based vegetable oil broker Sunvin Group.

Oil prices surged more than 25% on Monday to their highest levels since mid-2022 as some major producers cut supplies and fears of prolonged shipping disruptions gripped the market.

Indonesia, the world’s largest user of palm oil-based biodiesel, said it may revive plans to roll out a B50 grade of palm oil biodiesel mid-year to counter surging crude oil prices.

In January, Jakarta shelved the plan to produce B50, an equal blend of palm oil biodiesel and conventional diesel, citing technical and funding challenges and continued with the B40 mandate instead.

A long-term policy shift from countries such as Indonesia is likely only if palm oil trades at a consistent discount to gasoil over an extended period, said Bagani.

Used in everything from cakes and frying fats to cosmetics and cleaning products, palm oil makes up more than half of global vegetable oil shipments and is especially popular among consumers in emerging markets, led by India.

Southeast Asia is well positioned to consistently supply palm oil to buyers in Asia, the Middle East, and Europe, said Carl Bek-Nielsen, vice chairman and chief executive director at United Plantations Berhad.

Palm oil supplies remain ample and can be shipped quickly to Asian buyers, but it has now become more expensive than rival soyoil, which could limit gains in demand, said a New Delhi-based dealer with a global trade house.

 

Fly farm to combat corn borer worms, ready in two months: Sheinbaum

President Claudia Sheinbaum announced that the plant to produce sterile flies in Metapa de Domínguez , Chiapas—which will help combat the corn borer pest—will be ready in two months.

“The fly factory is nearing completion, and I believe it will be finished in two months. It is in Chiapas , and we are also going to present it,” she said.

In her morning press conference from La Pastora in Mexico City, the president assured that cattle ranchers, even with the difficult situation caused by the closure of the border with the United States to livestock, have found a market at the national level.

“That’s very good, because even with the border closed, they were still able to have a market and prices also increased, so even with the difficulties, they had the possibility of continuing to do business related to meat production,” she added.

Sheinbaum Pardo pointed out that the Sembrando Vida team also supports the strategy to eradicate the barren worm by making traps. She explained that these are not complex mechanisms, but they are effective in trapping the flies and reducing the number of these insects that affect livestock.

 

Fertilizer Producers Hit With US Farmers’ Price-Fixing Lawsuit

The owners of a family farm in New York sued a group of six leading fertilizer companies in a proposed class action, the first such case filed by a private plaintiff following reports of a Department of Justice probe over possible collusion.

Nutrien AG Solutions, Mosaic Co., CF Industries Holdings Inc., Koch Agronomic Services LLC, and Norway’s Yara International ASA allegedly conspired to raise fertilizer prices for US farmers, according to a suit filed March 7 by the owners of Fire Creek Farms in the US District Court for the Northern District of Illinois. Canpotex Ltd. is also a named defendant.

The case comes after a March 4 report by Bloomberg News that the DOJ was examining the companies’ pricing practices for possible civil and criminal antitrust violations.

Private plaintiffs often file follow-on lawsuits following federal investigations to leverage findings into their own cases and seek damages.

The defendants didn’t immediately respond to a request for comment.

Fire Creek Farms claims the fertilizer companies had an illegal agreement to fix the price of nitrogen, phosphate and potash—essential nutrients for plants—throughout the US starting in January 2021.

The companies exchanged competitively sensitive information and acted on it, Fire Creek Farms alleges.

“Plaintiff and members of the Class have been injured and will continue to be injured in their business and property by paying more for NPK Fertilizers purchased from Defendants and than they would have paid and will pay in the absence of the conspiracy,” Fire Creek Farms alleges.

Fire Creek Farms seeks both monetary and injunctive relief, and it claims the companies violated Section 1 and 3 of the Sherman Act. It seeks to represent a class of fertilizer buyers back to January 2021.

The plaintiffs are represented by Rupp Pfalzgraf LLC, Nussbaum Law Group PC, and Milberg PLLC.

 

 

 

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