Global Ag News For Feb 23.2026

TOP HEADLINES

Analysts say China less likely to buy US soy after Supreme Court decision

• Without tariffs, China seen as less likely to buy US soy
• Brazilian soybeans much cheaper than US supplies
• China has already bought 12 million metric tons of US soybeans

China may be less likely to follow through on another big purchase of U.S. soybeans that President Donald Trump has been touting for several weeks in the wake of the Supreme Court striking down Trump’s sweeping tariffs, analysts said.

Most actively traded soybeans fell slightly on Friday morning after rallying 8.49% since February 4, when Trump said on Truth Social that China would buy an additional 8 million metric tons of soybeans.

“What Trump has been doing is trying to put China’s feet to the coals, and now we’re asking — will this make China less likely to take delivery of the beans?” said Darin Fessler, senior hedge advisor at Lakefront Futures. “The U.S. is still more expensive than Brazil. Without China being forced, why would they want to buy U.S. beans?”

Even while U.S. soy was rallying, many analysts and traders had expressed skepticism that China would purchase such volumes.

China has already purchased 12 million metric tons of U.S. soybeans, fulfilling its end of a trade truce struck in October after it shunned U.S. soybeans for months last year. China’s state buyer, Sinograin, held public auctions to make room for U.S. shipments despite expectations of a bumper soybean crop in Brazil that China could purchase for less.

Without tariffs as a stick, U.S. soybeans would struggle to compete against rival Brazil, where a huge harvest currently underway has made the South American country’s soybeans far cheaper.

The justices ruled that Trump exceeded his authority by implementing tariffs under a law meant for use in national emergencies. The decision raised questions about whether or how the administration will pursue new tariffs through other legal strategies.

For the market players who closely monitor China, the world’s biggest soybean importer, the decision has added more uncertainty to an already volatile market.

Traders said they would closely follow any new twists in tariff policy as well as signs that China will bend to Trump’s will and make purchases of soybeans or continue to turn toward Brazil and Argentina, where China is not engaged in a trade war.

Farmers are facing down their fourth year in a row of low to negative profits, and farm income is expected to drop this year despite near-record government payouts. The U.S. Department of Agriculture has announced it will provide $11 billion in bridge payments to farmers, partly in response to disrupted access to export markets. Producers will be able to enroll in the program next week.

“The tariff hammer has been taken away from the president, but what tool is he going to be bringing out in the future to keep tariffs in place?” said Dan Basse, president of AgResource Company. “It certainly throws more cloudiness around the issue.”

Most actively traded soybeans fell slightly on Friday morning after rallying 8.49% since February 4, when Trump said on Truth Social that China would buy an additional 8 million metric tons of soybeans.

“What Trump has been doing is trying to put China’s feet to the coals, and now we’re asking — will this make China less likely to take delivery of the beans?” said Darin Fessler, senior hedge advisor at Lakefront Futures. “The U.S. is still more expensive than Brazil. Without China being forced, why would they want to buy U.S. beans?”

Even while U.S. soy was rallying, many analysts and traders had expressed skepticism that China would purchase such volumes.

China has already purchased 12 million metric tons of U.S. soybeans, fulfilling its end of a trade truce struck in October after it shunned U.S. soybeans for months last year. China’s state buyer, Sinograin, held public auctions to make room for U.S. shipments despite expectations of a bumper soybean crop in Brazil that China could purchase for less.

Without tariffs as a stick, U.S. soybeans would struggle to compete against rival Brazil, where a huge harvest currently underway has made the South American country’s soybeans far cheaper.

The justices ruled that Trump exceeded his authority by implementing tariffs under a law meant for use in national emergencies. The decision raised questions about whether or how the administration will pursue new tariffs through other legal strategies.

For the market players who closely monitor China, the world’s biggest soybean importer, the decision has added more uncertainty to an already volatile market.

Traders said they would closely follow any new twists in tariff policy as well as signs that China will bend to Trump’s will and make purchases of soybeans or continue to turn toward Brazil and Argentina, where China is not engaged in a trade war.

Farmers are facing down their fourth year in a row of low to negative profits, and farm income is expected to drop this year despite near-record government payouts. The U.S. Department of Agriculture has announced it will provide $11 billion in bridge payments to farmers, partly in response to disrupted access to export markets. Producers will be able to enroll in the program next week.

“The tariff hammer has been taken away from the president, but what tool is he going to be bringing out in the future to keep tariffs in place?” said Dan Basse, president of AgResource Company. “It certainly throws more cloudiness around the issue.”

 

FUTURES & WEATHER

Wheat prices overnight are down 4 in SRW, down 5 1/4 in HRW, down 0 in HRS; Corn is down 1 1/4; Soybeans down 7; Soymeal down $3.90; Soyoil up 0.24.

Markets finished last week with wheat prices up 28 1/2 in SRW, up 28 in HRW, up 1/8 in HRS; Corn is down 3; Soybeans down 3/4; Soymeal down $3.60; Soyoil up 2.22.

For the month to date wheat prices are up 30 1/4 in SRW, up 25 in HRW, up 0 in HRS; Corn is up 2 3/4; Soybeans up 69 1/4; Soymeal up $12.40; Soyoil up 5.48.

Year-To-Date nearby futures are up 12.6% in SRW, up 10.7% in HRW, up 1.7% in HRS; Corn is down 3.1%; Soybeans up 9.8%; Soymeal up 3.8%; Soyoil up 23.4%.

Malaysian palm oil prices overnight were down 9 ringgit (-0.22%) at 4083.

Chinese markets are closed for Holiday.

There were no changes in registrations. Registration total: 34 SRW Wheat contracts; 94 Oats; 9 Corn; 301 Soybeans; 910 Soyoil; 163 Soymeal; 17 HRW Wheat.

Preliminary changes in futures Open Interest as of February 20 were: SRW Wheat down 5,761 contracts, HRW Wheat down 212, Corn down 24,532, Soybeans down 18,018, Soymeal down 5,293, Soyoil down 8,221.

 

DAILY WEATHER HEADLINES: 23 FEBRUARY 2026

• NORTH AMERICA: Above‑normal temperatures are expected across most of the U.S., with wetter‑than‑average conditions in the Plains, Northwest, Midwest, and Northeast.
• SOUTH AMERICA: Cool and mostly wet conditions will persist across the corn and soybean belts of the Pampas, whereas Center West and Southeast Brazil are expected to experience flood risk conditions that may be unfavorable.
• EUROPE: Central and Western Europe will see above‑normal temperatures over the next 10 days, turning near normals in days 11–15, with moderate to heavy precipitation across the region.
• ASIA: Southeast Asia and south India will see near‑normal to slightly cooler temperatures over the next 15 days, while East Asia trend warmer during days 6–10. Mostly dry conditions will prevail across Asia, with only brief wet spells in south/east China, north Thailand, and Vietnam’s crop belts.
• AUSTRALIA: Moderate to heavy rains may support crop conditions across Australia’s major production belts.
• AFRICA: Rains may delay cocoa harvesting in Ivory Coast and Ghana, while heavy rains may pose concerns for South Africa’s corn belt.
• TELECONNECTIONS: The near‑normal AAO pattern is expected to maintain wet conditions across South America into early March.

 

UPCOMING WEATHER WILL ADVERSELY IMPACT MOST SOUTH AMERICA CROPS, FROM FLOODING TO DROUGHT RISKS BY REGION

Weather Anomaly Severity: High (Brazil flooding, Argentina dryness)

Crops impacted: corn, soybeans, coffee, sugar

Preferred model for the next 5 days: GFS Op

Preferred model for the 6-15 day timeframe: EC Ens (better alignment with AAO trends)

Forecast confidence: High through 10 days, low after that due to uncertainty from Argentina into Southern Brazil.

Model Change (from previous update): Drier in Southeast Brazil, wetter in Northeast region (northward shift in rainfall pattern).

 

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

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

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

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

Northern Plains: Isolated showers Monday-Wednesday. Mostly dry Thursday. Isolated showers Friday. Temperatures above normal west and below normal east Monday-Wednesday, above normal Thursday, near to below normal north and above normal south Friday. Outlook: Scattered showers Saturday-Sunday. Mostly dry Monday. Isolated to scattered showers Tuesday-Wednesday. Temperatures below to well below normal Saturday-Sunday, near to below normal Monday-Tuesday, near to above normal Wednesday.

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

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

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

 

The player sheet for February 20 had funds: net buyers of 6,000 contracts of SRW wheat, buyers of 4,500 corn, buyers of 6,500 soybeans, buyers of 4,500 soymeal, and sellers of 5,000 soyoil.

TENDERS

• CORN PURCHASE: South Korea’s Feed Leaders Committee (FLC) purchased about 132,000 metric tons of animal feed corn to be sourced from optional origins in an international tender that sought up to 138,000 tons, European traders said.
• CORN TENDER: Turkey’s state grain board TMO issued an international tender to purchase and import a total of 350,000 metric tons of animal feed corn, European traders said. The deadline for submitting price offers is February 26, they said.
• CONR PURHCASE: South Korea’s Major Feedmill Group (MFG) bought about 65,000 metric tons of animal feed corn in private deal on Friday expected to be sourced from the United States, European traders said on Monday.

PENDING TENDERS

• 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 price offers is February 25.
• WHEAT TENDER: Algeria’s state grains agency OAIC has issued an international tender to buy soft milling wheat to be sourced from optional origins, European traders said on Sunday. The tender sought a nominal 50,000 metric tons but Algeria often buys considerably more in its tenders than the nominal volume sought.
• CORN TENDER: Taiwan’s MFIG purchasing group has issued an international tender to buy up to 65,000 metric tons of animal feed corn which can be sourced from the United States, Argentina, Brazil or South Africa

 

 

 

TODAY

US Cattle on Feed Placements Fell to 1.74M Head in Jan.

Placements onto feedlots of capacity of 1,000 or more fell 4.7% from a year ago, according to the USDA’s monthly report.

• Analysts were expecting a drop of 4%
• The US feedlot herd as of Feb. 1 were down 1.8% y/y to 11.505m head
• Cattle marketed from feedlots declined 13% to 1.626m head

 

US Export Sales of Soy, Corn and Wheat for Week Ending Feb. 12

The following shows US export sales of soybeans, corn and wheat by biggest net buyers for week ending Feb. 12, according to data on the USDA’s website.

• Top buyer of soybeans: China with 416k tons
• Top buyer of corn: Japan with 447k tons

 

US Export Sales of Pork and Beef for Week Ending Feb. 12

The following shows US export sales of pork and beef product by biggest net buyers for week ending Feb. 12, according to data on the USDA’s website.

• Mexico bought 9.2k tons of the 27.3k tons of pork sold in the week
• South Korea led in beef purchases

 

Argentina Soybeans Get Boost From Rains, Exchange Says

Rains in central areas over the last week boosted the condition of soy plants, the Buenos Aires Grain Exchange said in a weekly report.

• Soy acreage with optimum or favorable moisture levels jumps to 66% from 56%, which at this stage of the season will sustain yield potential and put a floor under losses
• Soy production forecast kept at 48.5m metric tons
• Double-crop soybeans, which get planted later, need more rains after suffering dryness
• Corn production estimate kept at 57m tons

 

CROP TENDER: USDA Seeks Soybeans for Shipment to Asia

The US Department of Agriculture is looking for offers of 96,800 tons of soybeans for shipment to Asia, according to a Friday statement.

• The legumes are sought for shipment to Bangladesh, Vietnam and Nepal
• Shipments periods are from April 1-10 and May 1-10
• Offers are due Feb. 25

 

US Ethanol Exports Hit Record $7.6B in 2025, Industry Group Says

US ethanol industry exports last year rose to 2.18 billion gallons, worth a record $7.6 billion, according to the Renewable Fuels Association.

• Exports were to more than 80 countries
• Distillers grain shipments were 11.6 million metric tons
• Mexico was the top export market for distillers grains

 

Trucks form 39-km line to deliver soybeans to Brazil’s Miritituba river terminals

Trucks loaded with soybeans faced a 39-kilometer line to deliver the product to grain terminals at the Amazonian port of Miritituba in Para state, according to late-afternoon traffic data shared with Reuters by oilseed lobby Abiove on Friday.

Cargill, Bunge, Brazil’s Amaggi and logistics firm Hidrovias do Brasil HBSA3.SA operate terminals in the area.

Traffic is normally heavy at this time of year in the vicinity of the Miritituba river terminals, when they receive soybeans from farms in the Center-West and put them on barges before shipping the oilseed via ports in the north of Brazil.

Abiove estimates Miritituba on the Tapajos river handles about 12 million tons of grains like soy and corn each year.

In an interview on Friday, Daniel Amaral, an Abiove director for economy and regulatory affairs, said long lines of trucks form every year outside of Miritituba. Heavy rains tend to aggravate the problem, as well as the fact that a final stretch of the road linking farms in Mato Grosso to the port facilities remains unpaved.

“While the definitive access to the port is not built, these problems persist,” Amaral noted.

This year, Brazilian soybean farmers are reaping what analysts and the government say will be a record-large crop of nearly 180 million metric tons. Most of the country’s production gets shipped to China.

Via Brasil BR-163, the company that administers 1,009 kilometers (627 miles) of the highway connecting Mato Grosso to the Miritituba facilities, said works are underway to finish building the final 5.7-kilometer stretch of the road by November of this year.

 

Brazil Soybean Terminal Seized by Protesters in Harvest Season

Local protesters have occupied a Cargill Inc. export terminal in Brazil’s Amazon region at the height of the soybean harvest, escalating a standoff that has affected shipments from one of the country’s key export hubs and drawing condemnation from trade groups.

The protesters, members of indigenous groups, stormed the facility in the Port of Santarém overnight Friday in Pará state, according to the Folha de S.Paulo newspaper.

The incident comes amid protests by 14 indigenous tribes in the region against the launch of a public bidding for dredging the Tapajós River and a decree signed by President Luiz Inácio Lula da Silva that paves the way for the privatization of the management of three rivers across the Amazon, totaling about 4,000 kilometers (2,500 miles).

A blocked road as indigenous protesters camp outside of the Cargill grain terminal, along the Tapajos and Amazon Rivers in Santarem, Para state, Brazil, on Feb. 9.

“We urge the parties directly involved to prioritize safety, engage in constructive dialogue, and work towards a solution that allows for the safe resumption of operations and the continued transport of food to where it is needed,” Cargill said in a statement.

The terminal in Brazil’s Para state is part of an array of Amazon ports that ship over 40% of Brazil’s corn and soybeans. The country is currently harvesting soy, and activity at the ports in the region is key to keep exports flowing this time of year. Protesters previously blocked roads and land access to Cargill’s terminal, halting the unloading of soybeans from trucks, and also briefly shut down the entrance to Santarém airport, one of the region’s main transport hubs.

“The attempt to intimidate companies and workers through violence surpasses any democratic limit,” the Federation of Industries of the State of Sao Paulo, Brazil’s largest manufacturing association, said in a statement. “Acts of this nature affront the right to property, threaten jobs, put lives at risk, and erode the legal security that sustains investment and development.”

 

US Farmers Assess Fallout as Court Strikes Down Trump Tariffs

US farmers and traders struggled to assess the impact of the Supreme Court’s decision striking down President Donald Trump’s tariffs that have created upheaval in global trade flows over the past year.

The court said Trump exceeded his authority by invoking a federal emergency-powers law to impose the tariffs. The decision leaves many issues unanswered, including the extent to which importers are entitled to refunds. Agriculture markets fluctuated wildly following the decision, with grains giving up earlier advances and then regaining lost ground.

Iowa farmer Pam Johnson said Friday’s ruling gives her hope that US leaders are listening to those hurt by tariffs, and that trade relationship can now be built back up.

“To give the American people some relief on this is a big step,” said Johnson, a past president of the National Corn Growers Association and one of the signers of a recent letter from former agricultural leaders warning of a farm economy in crisis. “Tariffs are killing us.”

One of the biggest concerns was over the possibility of retaliation over the court’s decision. Trump fired back after the ruling, saying he would sign an order imposing a 10% global tariff, and pledged a raft of investigations that could allow him to enact more import taxes.

“As the administration decides on next steps, the big question is whether those decisions will be made in a fair and transparent manner or rushed through other temporary fixes to extend the destructive tariff chaos,” said Karen Hansen-Kuhn, the Institute for Agriculture and Trade Policy’s director of trade and international strategies.

Walter Kunisch, senior strategist at Hilltop Securities, said he’s concerned about the potential impacts with Canada and Mexico after the ruling. “There’s more questions than answers for how it pertains to global flows of bulk crops,” he said.

The court’s decision comes as the Trump administration’s tariff policies have hurt American farmers, most notably sparking a trade war with China that led US growers to lose market access for soybean exports. Purchases resumed after a meeting between Trump and his counterpart Xi Jinping in October, and the US president has recently pushed China to step up its commitment this season. Trump on Friday said he will travel to China next month.

The removal of tariffs could give a boost to some soft commodities. Raw sugar futures found some support Friday on hopes that top grower Brazil may be able to ship more ethanol and sugar to the US. The decision also could make buying decisions more fluid and provide relief to coffee roasters, who already saw prices adjust last fall after tariffs on beans were lifted.

The ruling doesn’t have much impact on fertilizers as most were exempted last fall, but any refunds could make a difference to those who had paid initial tariffs, Bloomberg Intelligence analyst Alexis Maxwell said.

There could be near-term relief to some farm equipment and some crop inputs, said Wesley Davis, chief agriculture economist at Meridian Ag Advisors.

Earlier in the week, shares surged for some farm suppliers, including Deere & Co., on expectations that a farm recovery could soon take hold as growers replace aging machinery and look to replenish fields with fertilizer after cutting back the past few years.

Others have been hoping to boost demand through increased domestic use of higher-ethanol blends using fuel primarily made from corn. The Trump administration is expected to announce biofuels blending quotas shortly. The US Department of Agriculture is also seeking to help growers through a $12 billion farm bailout.

Missouri farmer Marty Richardson said he wants to know whether other countries will now drop tariffs against the US, or if federal aid promised to farmers might be affected if the US must refund tariff revenue.

“How’s all that going to work?” Richardson asked, noting that Trump once said tariffs might be used to fund relief for US farmers.

 

Ukraine sees higher wheat, corn harvest and exports in 2025/26

Ukraine’s wheat harvest may grow by 2.9% to 23.1 million metric tons in 2026 due to an increase in sowing acreage and despite a decline in yield, the UCAB agricultural lobby and the economy ministry said over the weekend.

The sowing area has increased by 4.8% to 5.1 million hectares, but the expected 1.7% decline in yield may partially reduce production, UCAB and the ministry said in a joint report.

Wheat exports in the 2025/26 July-June season could rise to 17.6 million tons from 15.8 million tons in 2024/25.

The ministry and lobby predict that corn harvest will also grow by 11.2% to 29.9 million tons from 26.9 million tons, and exports will increase to 23.8 million tons from 22 million tons.

 

Data Centers Seen Competing for Prime Farm Land — Market Talk

Rural land is a prime location for companies seeking to build new data centers to run AI operations, and towns are increasingly selling prime farm land to these companies, says Danny Munch of American Farm Bureau Federation. “Agriculture is on the front lines when looking at an attractive place to place these data centers,” Munch tells attendees of the USDA’s Agricultural Outlook Forum. “The revenue generation in these areas is high while investment from the town is quite low.” Not only do these huge data centers take up a lot of acres that could be used by farmers in these communities, but their usage of resources like water and electricity also drives up costs for farmers.

 

USDA defends $12 billion subsidy amid farm economy challenges

As the U.S. Department of Agriculture prepares to dole out $12 billion in government subsidies next week, officials and economists at the agency’s annual forum near Washington defended the assistance as a necessary measure to prevent more farmers from financial ruin.

The two-day meeting this week in Arlington, Virginia, focused on a challenging farm economy that could see further headwinds after the U.S. Supreme Court on Friday struck down Donald Trump’s sweeping tariffs that he pursued under a law meant for use in national emergencies. The ruling handed a stinging defeat to the Republican president, with major implications for the global economy and potential ripple effects on the U.S. farm sector.

WHAT USDA IS DOING

The Farmer Bridge Assistance program is expected to distribute $11 billion in one-time payments to farmers. It’s a per-acre rate for those who planted one of the 19 commodity crops identified as being eligible for the program. Another $1 billion is slated for specialty crop producers.

USDA Secretary Brooke Rollins said Friday that the agency will open the application process ahead of schedule on Monday.

In December, Rollins said farmers who qualify could expect “payments in their bank accounts” by February 28 – six days after applications open.

“These resources will help carry producers into the next season, truly a bridge, as purchase commitments and new trade deals take effect and input costs continue to decline,” Rollins told a packed ballroom at the Agricultural Outlook Forum in Arlington, Virginia on Friday.

Rollins did not immediately respond to questions about how USDA will process an expected flood of applications.

Deep staffing cuts across the federal government last year, including at USDA’s Farm Service Agency offices in rural America, have slowed farmer access to many government services.

The federal payments will not fully compensate farmers for financial losses that have topped $30 billion in recent years, economists and industry groups said.

The aid will act as “a bridge until the improvements in the farm bill programs are realized on the farm,” John Newton, vice president of public policy and economic analysis at the American Farm Bureau Federation, told Reuters on the sidelines of the conference.

Earlier this month, USDA had forecast that U.S. net farm income would fall 0.7% this year, despite near-record government payments expected to account for nearly 29% of producers’ bottom line.

USDA said it expects prices paid to farmers for corn, soybeans and wheat to rise slightly in the 2026/27 season, though prices remain well below recent highs.

Average prices were projected at $4.20 a bushel for corn, $10.30 for soybeans and $5.00 for wheat — 10 cents higher than the current season and well below 2022/23 levels, USDA data showed.

USDA Chief Economist Justin Benavidez said ad hoc farm aid, which has reached near-historic levels in recent years, has helped keep farmers in business during the downturn but likely supported input prices.

 

CORN/CEPEA: Sellers are firm; upward trend prevails

The pace of corn trades has been slow in Brazil this week due to the carnival period. Prices, in turn, remain steady, since farmers are focused on crop activities and sellers are firm about quotations. Purchasers face high prices set by sellers and report experiencing logistical difficulties.

Crops activities are moving at a satisfactory pace with concerns about the lack of rainfall in Southern Brazil.

From February 12-19, the ESALQ/BM&FBovespa Index for corn prices rose 1.7%, to close at BRL 68.8 per 60-kg bag on Feb. 19. In the partial of the month (up to Feb. 19), the increase is by 4%. On the average of the regions surveyed by Cepea, in the same comparison, corn values upped 0.1% in the wholesale market (deals between processors) and 0.5% in the over-the-counter market (paid to farmers) between Feb. 12 and 19.

EXPORTS – In the first 10 producing days of February, Brazil shipped 992.69 thousand tons of corn, almost 70% of the amount exported in the entire month of February 2025.

At the port of Paranaguá (PR), corn prices were practically stable last week, at around BRL 65/bag.

CROPS – Planting activities of the second crop hit 32.2% of the area in Brazil up to February 14, against 38.6% on the average over the last five crops – data from Conab.

In Paraná, sowing activities are at 22% of the area, according to Conab. In Mato Grosso, Imea says that activities reached 46.07% of the total, a progress of 17.77 percentage points until Feb. 13.

In Mato Grosso do Sul, the planted area is at 15.5% and the output projection is at 11.13 million tons, 20% less than in the crop before – data from Famasul.

Concerning the summer crop, the harvesting reached 14.9% until February 14, according to Conab. In Paraná, the total reached 18%. As for Rio Grande do Sul, producers had harvested 58% of crops up to Feb. 19 – data from Emater/RS.<br/>2026/27 ESTIMATES – The USDA released a report on Feb. 12 indicating that the output in the United States may drop 7% compared to 2025/26, while the area is likely to reduce 4.8%.

 

SOYBEAN/CEPEA: Prices are firm in Brazil

Soybean quotations rose this week, driven by strong demand from abroad, cautious sellers in Brazil due to weather uncertainties, and rising prices in the international market. In spite of expectations of high global supply, international purchasers continue operating actively, attracted by lower export premiums in Brazil. Soybean sellers, in turn, especially in Southern Brazil, are cautious regarding deals because of irregular rainfall.

The CEPEA/ESALQ Index (Paraná) rose 0.7% from Feb. 12-19, to close at BRL 121.25 per 60-kg bag on Feb. 19. The CEPEA/ESALQ Index (Paranaguá) increased 2.3% in the same comparison, closing at BRL 129.06 per 60-kg bag. On the average of the regions by Cepea, soybean prices upped 0.6% in the wholesale market (deals between processors), 0.4% in the over-the-counter market (paid to farmers). The US dollar closed at BRL 5.225 on February 19, moving up 0.4% against that observed on Feb. 12.

Brazil exported 2.69 million tons of soybeans in the partial of this month (up to February 13), 43.5% more than in January/26. Still, the daily average continues 16.2% below that registered in February/25 – data from Secex.

 

COFCO sends certified Argentine soy to Vietnam’s feed market

COFCO International has delivered its first cargo of soy certified under its Responsible Agriculture Standard into Vietnam, marking the arrival of its certified South American supply in one of Southeast Asia’s fastest-growing feed markets a press release states. The shipment also represents the first export of soy or soymeal certified under the COFCO Responsible Agriculture Standard from Argentina to any international destination.

The cargo originated from the company’s operations in Argentina and was transported by MV El Juniper to Phu My Port, near Ho Chi Minh City in the south of Vietnam. It follows recent certified deliveries by COFCO International to other Asian markets including China, Thailand and Bangladesh.

Sold to a leading Vietnamese supplier of animal feed ingredients, the shipment will serve Vietnam’s booming export-oriented poultry and aquaculture sectors, where traceability and sustainability standards are increasingly linked to market access and the requirements of global customers.

Vu Chanh Ly, commercial director for Vietnam at COFCO International, said Vietnam’s feed industry is closely integrated with global markets in which sustainability and traceability are gaining importance according to the press release. The shipment, he said, shows that competitively sourced South American soy can meet robust, independently recognised sustainability standards at scale, supporting customers’ export competitiveness.

The certified volumes are verified under Module 2 of the COFCO Responsible Agriculture Standard, which mandates third-party, on-site farm audits to confirm compliance with environmental and social criteria, alongside a 2020 no-deforestation and no-conversion cut-off date.

COFCO International plans to expand its supply of certified sustainable soy to Southeast Asia in response to rising demand for traceable and responsibly produced commodities.

 

Egypt’s Soy Imports at Record as Poultry Sector Grows: Chamber

Total imports of soybeans that arrived to Egyptian ports in 2025 reached around 5m tons, according to Abdul Aziz El Sayed, chairman of the poultry division in the Chamber of Commerce.

• This was a record amount, and imports this year are seen between 5.5m-6m tons
• The drivers behind the increase are the growth of the country’s poultry sector and the expansion of soybean crushers, he says
  • Purchases are by the private sector, rather than the government

 

Brazil seeks to broaden chicken trade with India

A Brazilian trade delegation in India is seeking opportunities to sell more Brazilian chicken to the Asian country in return for opening up its home market to some Indian fruit and nuts, Brazil’s Agriculture Ministry and industry group ABPA said.

While it is the world’s largest exporter of the poultry, Brazil sells almost no chicken to India due to prohibitive import tariffs.

In 2025, it exported only 2.47 tons of chicken to India, while the United Arab Emirates, its top destination, purchased 479,900 tons, according to trade data.

“We discussed expanding trade relations,” Agriculture Minister Carlos Favaro said in a statement.

Brazil is ready to open up for imports of pomegranates and macadamia nuts from India. “In return, we are seeking the opening for guandu beans, along with expanding opportunities for Brazilian chicken meat and yerba mate,” Favaro said.

 

Indonesia Says US Trade Pact Has Room to Amend Tariffs

Indonesia and US can amend the trade agreement with the written consent of both parties, and there is also room for changes to tariffs, says Coordinating Economic Minister Airlangga Hartarto in an online briefing about the recent trade deal.

• Amendments will be discussed under a “council of trade and investment” that Indonesia and US will form, Hartarto says
  • The council will also address perceived imbalances in bilateral trade
• Indonesia to get 0% US tariff on palm oil, coffee, cocoa, spices, rubber, electronic components, including semiconductors, and aircraft components
• US will apply a zero tariff with a Tariff Rate Quota (TRQ) mechanism for certain Indonesian textile and apparel products
• Hartarto says US agrees to remove articles unrelated to economic cooperation such as those about nuclear reactor development, the South China Sea, defense and border security
• Indonesia, US agree to keep electronic transactions free from import duties, a policy that Indonesia also applies to the EU, Hartarto says
• Deal to take effect 90 days after the countries’ respective legislatures ratify it
• Indonesia to import $15b of oil and gas from the US each year, says Investment and Downstreaming Minister Rosan Roeslani at the same briefing
• Freeport to invest around $20b in Indonesia over the next 20 years as part a recent mining extension agreement
• Indonesia reaffirms plan to buy 50 Boeing jets, says Roeslani

 

US Poultry Slaughter Fell 3% Y/y in January: USDA

Slaughter fell to 5.91 billion pounds, according to the USDA’s monthly poultry slaughter report released on the agency’s website.

• Chicken live weight fell 2.9% in January from year ago
• Chickens condemned post-mortem down 7.3% y/y
  • Condemned ante-mortem down 5% y/y

 

US Milk Production Rose 3.4% Y/y in January, USDA Says

Agency releases report on website.

• Output for the 24 major-producing states was 19.06b lbs, 635m more than in January of last year
• Milk per cow averaged 2,082 lbs, a 1.2% increase from last year
• Estimated output for all the US rose 3.2% y/y to 19.81b lbs

 

 

 

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