Global Ag News For Jan 5.2026

TOP HEADLINES

Tyson Foods settles US beef price-fixing lawsuit for $82.5 million

Tyson Foods has agreed to pay $82.5 million to settle a proposed class-action lawsuit brought by grocers and other businesses that accused the meat and poultry giant of conspiring to inflate U.S. beef prices by restricting supply.

The proposed settlement in the federal lawsuit was disclosed on Wednesday in the U.S. District Court for the District of Minnesota.

Lawyers for the plaintiffs — grocery stores, food distributors and other businesses that bought beef products directly from Tyson — said in the filing that they are working on a final settlement agreement to present to a judge for approval.

Tyson, and the attorneys for the beef purchasers did not immediately respond to requests for comment.

The buyers had accused Tyson and several other major beef producers of conspiring to charge inflated prices for retail sale-ready consumer cuts or edible boxed beef between 2015 and 2022.

The plaintiffs include Pennsylvania-based Redner’s Markets and Mississippi-based R&D Marketing.

Lawyers for the plaintiffs estimated thousands of so-called direct purchasers are part of the proposed class.

The Tyson accord is the second for the direct purchasers, after JBS USA agreed to pay $52.5 million. The company denied any wrongdoing in agreeing to the deal, which was approved by a judge in 2022.

Tyson and JBS are the two largest defendants. Two remaining defendants, Cargill and National Beef, did not immediately respond to requests for comment.

Arkansas-based Tyson, the largest U.S. meat company, settled related price-fixing claims from consumers in the beef litigation for $55 million.

Tyson also separately agreed this year to pay $85 million to settle a proposed consumer class-action accusing it of conspiring with rivals to inflate pork prices.

 

FUTURES & WEATHER

Wheat prices overnight are up 1 1/4 in SRW, up 3/4 in HRW, up 0 in HRS; Corn is up 2 1/4; Soybeans up 6 1/2; Soymeal up $1.80; Soyoil up 0.16.

Markets finished last week with wheat prices down 10 1/4 in SRW, down 15 in HRW, down 0 in HRS; Corn is down 10 3/4; Soybeans down 20 1/2; Soymeal down $8.90; Soyoil up 0.12.

For the month to date wheat prices are up 3/4 in SRW, up 1 in HRW, down 0 in HRS; Corn is down 1/2; Soybeans up 4 3/4; Soymeal down $1.60; Soyoil up 0.90.

Chinese Ag futures (MAR 26) Soybeans up 26 yuan; Soymeal down 13; Soyoil down 10; Palm oil down 120; Corn down 6 — Malaysian Palm is up 23.

Malaysian palm oil prices overnight were up 23 ringgit (+0.58%) at 4014.

There were no changes in registrations. Registration total: 34 SRW Wheat contracts; 120 Oats; 9 Corn; 1,430 Soybeans; 810 Soyoil; 152 Soymeal; 23 HRW Wheat.

Preliminary changes in futures Open Interest as of January 2 were: SRW Wheat up 5,451 contracts, HRW Wheat up 951, Corn up 19,969, Soybeans up 1,105, Soymeal up 7,844, Soyoil up 3,385.

 

DRY WEATHER WILL BECOME PERSISTENT OVER CENTRAL-WEST BRAZIL, AND HEAT RISKS WILL ALSO ARRIVE SOON TO THE DETRIMENT OF CROPS

What to Watch:

• The Argentina Pampas will be persistently dry through mid-January in an unfavorable outlook for corn/soybeans
• Heat/dryness risks will become focused on Central-West Brazil through the next couple weeks in a negative outlook for crops there
• Cool and wet weather is in store for Paraguay over the next 1-2 weeks in a positive outlook for corn/soybeans

 

Brazil: Showers filled in across central Brazil over the weekend and were heavy, which is helping soybeans as more and more of the crop is setting pods, a process that accelerates in January, the most important month for rainfall in the country. Showers will be widespread early this week, but may thin out with time. With soil moisture still running very low, the coverage of showers will be more important than normal over the next six weeks or so. Southern areas are still in much better shape. A front moving in later this week will produce some more beneficial rounds of rainfall into the weekend.

Argentina: Rainfall has been running below-normal for a while across southern and central areas while northern areas have had much better coverage and amounts in recent weeks. The same is true with a pair of fronts moving through this week. Northern areas stand better chances for rainfall in both coverage and amounts, where conditions are largely favorable. Heat stress has been minimal so far this season, however, allowing the water that is still in the soil more time to be beneficial for developing corn and soybeans.

Northern Plains: Temperatures continue to be largely above normal throughout this week with little interruption in that. Some spotty showers may move through on occasion, but the main storm track will bypass the region this week.

Central/Southern Plains: Temperatures continue to be largely above normal this week. A system will move through late this week, bringing a mix of precipitation and a drop in temperature, at least briefly. Warmer air recently has reduced winter hardiness for winter wheat, which is now at risk for a shot of colder air that inevitably will return at some point this month. Snow falling later this week will help to protect wheat from damage in the short-term, but there is a much larger long-term risk now.

Midwest: Variable temperatures will run above normal for much of this week. Some limited showers will be possible, but could bring a mix of frozen precipitation types that could cause transportation issues. A larger system will move through in a couple of pieces later this week and weekend, which may result in some significant snow in the Upper Midwest and will be followed by a significant drop in temperature, at least for a couple of days.

Delta: Water levels along the Mississippi River are low and falling this week. With very little precipitation in the forecast until the end of the week, there could be restrictions. The system responsible for some rain later this week should provide a meaningful boost, but not a long-term solution to the low water levels and transportation concerns.

Europe: Soil moisture is still favorable across most of the continent for dormant winter wheat across the north and vegetative winter wheat in the Mediterranean. A very active weather pattern begins 2026, which will continue this trend. It will be colder over northern areas this week, though, which may leave some exposed areas at a minor risk of winterkill.

Black Sea: The weather pattern is starting to become a bit more active, which is favorable for building some snowpack and soil moisture for dormant winter wheat. Areas at risk of winterkill are low because of the northern snowpack that is now building. Warmer temperatures later this week could threaten to melt a good portion of that recent snow, however. Models suggest that colder air will return next week, which could be threatening in some areas.

Australia: Soil moisture continues to fall in many areas, though some eastern areas are running with decent soil moisture after recent rains at the end of December. Dry weather for most areas this week will not be favorable for developing cotton and sorghum.

 

The player sheet for 1/2 had funds: net sellers of 1,000 contracts of SRW wheat, sellers of 8,000 corn, sellers of 7,000 soybeans, sellers of 5,500 soymeal, and buyers of 4,000 soyoil.

TENDERS

• CORN SALE: Exporters sold 132,000 metric tons of U.S. corn to South Korea for delivery in the 2025/2026 marketing year, the U.S. Department of Agriculture said.

PENDING TENDERS

• RICE TENDER: Iranian firm Jahad Sabz Company issued a tender to purchase 10,000 tons of rice sourced from Pakistan, according to a copy of the tender sent to European traders. The deadline for submission of price offers was December 30.
• RICE TENDER: South Korea’s state-backed Agro-Fisheries & Food Trade Corp issued an international tender to purchase an estimated 56,944 tons of rice to be sourced from China, European traders said. The deadline for price offers was December 30.
• RICE TENDER UPDATE: The lowest price offered in a tender from Bangladesh’s state grains buyer to purchase 50,000 tons of rice, which closed on December 22, was estimated at $359.77 a ton CIF liner out, traders said. Price offers must remain valid until January 5.
• MILLING WHEAT TENDER: Jordan’s state grain buyer issued an international tender to buy up to 120,000 tons of milling wheat sourced from optional origins, European traders said. The deadline for price offers is January 6.
• FEED BARLEY TENDER: Jordan’s state grains buyer issued an international tender to purchase up to 120,000 tons of animal feed barley, European traders said. The deadline for price offers is January 7.

 

 

 

 

TODAY

US Soybean Crushings at 220.5M Bushels in November: USDA

USDA releases monthly oilseed report on website.

• Crushing 5% higher than same period last year
• Crude oil production 1.7% higher than same period last year
• Crude and once-refined oil stocks up 33.7% y/y

US Corn Used for Ethanol at 471.9M Bu in November

The following is a summary of US corn consumption for fuel and other products, according to the USDA.

• Corn for ethanol was 0.03% higher than in November 2024
• In total, mills consumed 519m bu of corn in November, a 0.4% decline over last year
• DDGS production fell to 1.753m tons

 

US CROP EXPORTS: 132,000 Tons of Corn to South Korea

The US Department of Agriculture on Friday announces export sales activity on its website:

• The sale is for the 2025-26 marketing year

 

China’s 2025/26 Corn Production Rose 2.1% From Previous Year

LSEG Research & Insights – Commodities

2025/26 CHINA CORN PRODUCTION: 301.2 MILLION TONS, UP 1% FROM LAST UPDATE

China’s National Bureau of Statistics (NBS) published its estimates for 2025/26 corn area, yield, and production in December. The projected corn area is 44.96 million hectares, which aligns closely with LSEG’s prior estimate of 44.95 million hectares. The estimated corn yield stands at 6.70 tons per hectare, falling within the confidence interval of our yield model. After provisionally accepting the higher yields reported by NBS, we have revised our 2025/26 China corn production estimate to 301.2 million tons, an increase of 6.3 million tons (2.1%) from the previous year.

 

India’s December palm oil imports fall to 8-month low on weak demand

India’s palm oil imports fell to an eight-month low in December, weighed down by weaker winter demand and as refiners increased purchases of rival oils such as soyoil and sunflower oil, according to five dealers.

Lower palm oil imports by India, the world’s largest buyer of vegetable oils, could lift inventories in top producers Indonesia and Malaysia, weighing on benchmark Malaysian palm oil futures while lending support to U.S. soyoil futures.

Palm oil imports fell 20% month-on-month in December to 507,000 metric tons, the lowest since April 2025, according to estimates from dealers.

Meanwhile, soyoil imports surged 37% to 508,000 tons, and sunflower oil imports more than doubled to a 17-month high of 350,000 tons, according to dealer estimates.

India’s total edible oil imports in December rose 19% from a month earlier to a three-month high of 1.37 million tons due to higher imports of soyoil and sunflower oil, the estimates indicated.

The import numbers exclude duty-free shipments that arrived via land borders from Nepal, they said.

India imported an average of about 632,000 tons of palm oil each month during the marketing year that ended in October 2025, said the Solvent Extractors’ Association of India, which is set to publish its December import data by mid-January.

Palm oil demand has remained weak due to the winter months and improved availability of domestic edible oils such as groundnut oil, soyoil and cottonseed oil, said Rajesh Patel, managing partner at edible oil trader GGN Research at Rajkot, Gujarat.

India’s palm oil imports typically moderate during the winter months, as the tropical oil solidifies at lower temperatures, limiting its use in northern parts of the country.

India buys palm oil mainly from Indonesia and Malaysia, and imports soyoil and sunflower oil from Argentina, Brazil, Russia and Ukraine.

Palm oil imports are likely to rise in January, while soyoil and sunflower oil imports may moderate, as palm oil is now trading at a discount to the two rival oils, said Sandeep Bajoria, chief executive of Sunvin Group, a vegetable oil brokerage and consultancy firm.

 

Indonesia’s January-November palm oil export volume up 4.3% y/y

Indonesia exported 20.85 million metric tons of crude and refined palm oil in the January-to-November period of last year, up 4.32% by volume from the same period a year earlier, the statistics bureau said on Monday.

The shipments were worth a total of $21.63 billion.

For the month of November, palm oil export volumes stood at 1.36 million metric tons, down nearly 29% from the same month of 2024, the bureau added.

The bureau’s data excludes palm kernel oil, oleochemicals and biodiesel. GAPKI, Indonesia’s palm oil association, usually releases its own figures at a later date, covering more products, and so has different export figures.

 

Malaysia Palm Oil Reserves Seen at Seven-Year High on Exports

Palm oil stockpiles in Malaysia climbed for a 10th straight month to reach the highest level in seven years as exports remained lackluster and consumption weakened in the world’s second-largest producer, according to a survey.

Inventories were estimated to have risen 5.3% from a month earlier to 2.99 million tons in December, the median of 11 estimates in a poll of plantation executives, traders and analysts showed. That’s the highest level since February 2019, which was the last time the reserves were past the 3 million-ton mark. It also signifies a 75% increase from a year ago.

The continued swell in inventories since March could dampen the outlook for benchmark palm oil prices, with futures trading below the 4,000 ringgit ($982) mark as of the midday break on Monday amid declining Malaysian exports and weak crude oil prices.

Still, futures will unlikely see a steep drop as palm’s discount to rival edible oils could attract fresh demand, according to Anilkumar Bagani, head of research at Mumbai-based Sunvin Group.

“December’s production did not see a sizable reduction from the huge base in November, while exports could not improve significantly,” Bagani said. “The focus will be on the first quarter of 2026, when demand from Lunar New Year and Ramadan festivals, as well as biofuel usage, will guide prices.”

Exports rose just 1.7% to 1.23 million tons in December after slumping 28% a month before. Domestic consumption was seen in a median of 400,000 tons, compared with around 418,000 tons the month earlier.

Crude palm oil production fell 9.3% to 1.76 million tons, the survey showed. That would still put full-year output on track for a record of around 20.21 million tons, surpassing the previous high of 19.96 million tons in 2015. The Malaysian Palm Oil Board will publish its monthly data on Jan. 12.

Stockpiles will only start to ease from January until the start of the next seasonally-high production period in the third quarter, according to Nagaraj Meda, chairman and managing director at TransGraph Consulting, a commodities market researcher. “Production in Malaysia would definitely see a downtrend through January and February, whereas exports are expected to remain firm in the coming months,” he said.

More from the survey:

• Stockpile were estimated between 2.89 million and 3.15 million tons, while production was seen between 1.71 million and 1.84 million tons
• Export forecasts were mixed between 1.16 million tons and 1.31 million tons
• Imports were seen at 40,000 tons, compared with 23,176 tons in November
• Local consumption was between 250,000 tons and 480,000 tons

 

Mexico reports second screwworm case in two days

Mexican authorities reported a case of the New World screwworm parasite late on Thursday, the second case reported in two days as Mexico works to contain an outbreak that has kept the U.S.-Mexico border closed to Mexican livestock.

The parasite was detected and treated in a goat in the State of Mexico, which borders capital Mexico City, the ministry said, adding that the 20 other animals at the site tested negative and were given preventive treatment.

On December 31, the ministry reported a case in a six-day-old cow calf in the northern state of Tamaulipas, also the only positive case on site.

Mexico has so far reported a total of 13,106 cases since November of 2024, according to government data through December 31, 2025. Of those cases, 671 were active currently.

The southern border state of Chiapas has the most confirmed cases, followed by Oaxaca, Veracruz and Yucatan.

Screwworms are parasitic flies whose females lay eggs in wounds. Their larvae burrow through the fleshof animals, eventually killing their host if left untreated.

Mexico has been working to contain an outbreak of the screwworm, which has spread northward from Central America, rattling the livestock and beef industries of both the U.S. and Mexico.

Because of the outbreak, the U.S. has kept its southern border largely closed to Mexican livestock since May.

Although U.S. officials say the pest has not yet breached the U.S. border, it threatens $1.8 billion in damage to Texas’ economy alone, according to a U.S. Department of Agriculture estimate.

 

France to Ban Food Imports Containing EU-Prohibited Pesticides

France plans to prohibit food imports from South America or elsewhere that contain pesticides banned for use in the European Union.

Prime Minister Sebastien Lecornu said a decree will be issued in the coming days to suspend the import of products containing residues of substances such as mancozeb, glufosinate, thiophanate-methyl, and carbendazim.

“Avocados, mangoes, guavas, citrus fruits, grapes, and apples from South America or elsewhere will no longer be allowed to enter the national territory,” Lecornu said in a post on X on Sunday.

Farmers have tried to block the signing of a free-trade deal with Mercosur countries in South America, citing concerns over cheaper imports and their compliance with the European Union’s health and environmental standards. After some safeguard measures were introduced to the text, European officials are now aiming for a mid-January ratification.

 

 

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