Global Ag News For Feb 24.2026

TOP HEADLINES

Lula Backs Down on Amazon Plan After Seizure of Cargill Port

The Brazilian government reversed plans to privatize key waterways in the Amazon, marking a victory for protesters who occupied a Cargill Inc. grain shipping terminal in the region.

President Luiz Inacio Lula da Silva has decided to revoke his own decree, the minister of the General Secretariat of the Presidency, Guilherme Boulos, said at a press conference on Monday.

The decision comes after local indigenous groups occupied a Cargill terminal in the Port of Santarém overnight Friday in Pará state, extending a standoff that’s exposed cracks in agribusiness efforts to boost crop shipments along area rivers.

“This is a victory of the indigenous movement, of the Tapajos River, of the Amazon,” said Caetano Scannavino, an environmentalist based in Santarém. “The indigenous movement is the new progressive movement, and we should follow its lead. Beyond left and right, what they defend is living well instead of the need for more GDP growth.”

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.

Escalating tensions in the region underscore challenges for global agriculture traders who have strengthened their presence in the Amazon by building a series of port terminals over the last decade. Cargill’s Santarém unit is part of a network of Amazon ports responsible for shipping more than 40% of Brazil’s corn and soybeans. The country is currently in the height of the soybean harvesting season, and activity at the terminals in the region is key to keep exports flowing this time of year.

Members of 14 indigenous tribes pushed back against the decree, which aimed to privatize the management of three rivers totaling about 4,000 kilometers (2,500 miles) of waterways across the Amazon. The groups also rejected the launch of a public bidding for dredging the Tapajós River. That bidding was suspended, Brazil’s Ministry of Ports said in a statement Sunday.

Cargill didn’t immediately respond to a request for comment on the decree about-face. Over the weekend, the company had said in a statement that it hoped for a solution that would allow “the safe resumption of operations and the continued transport of food to where it is needed.”

Protesters blocked roads and land access to Cargill’s terminal earlier in the month, halting trucks from unloading soybeans. Demonstrators also briefly shut down the entrance to Santarém airport, one of the region’s main transport hubs.

Organizations representing soybean traders and shipping companies earlier on Monday asked for immediate actions to restore possession of the terminal. In a statement, groups including traders’ representative Abiove said the fact that protesters acted against a private company “is not only counterproductive, but also undermines the legitimate democratic space.”

 

FUTURES & WEATHER

Wheat prices overnight are up 1 1/4 in SRW, down 3 1/2 in HRW, down 0 in HRS; Corn is up 1/2; Soybeans down 3 1/2; Soymeal down $0.10; Soyoil down 0.07.

For the week so far wheat prices are down 6 1/4 in SRW, down 17 1/4 in HRW, down 0 in HRS; Corn is up 1/2; Soybeans down 8; Soymeal down $3.50; Soyoil up 0.69.

For the month to date wheat prices are up 29 in SRW, up 13 3/4 in HRW, up 0 in HRS; Corn is up 5; Soybeans up 69 1/4; Soymeal up $14.90; Soyoil up 5.75.

Year-To-Date nearby futures are up 12.3% in SRW, up 8.0% in HRW, up 1.2% in HRS; Corn is down 2.9%; Soybeans up 9.6%; Soymeal up 4.0%; Soyoil up 23.8%.

Chinese Ag futures (MAY 26) Soybeans down 25 yuan; Soymeal down 6; Soyoil up 88; Palm oil up 112; Corn up 14 — Malaysian Palm is down 29.

Malaysian palm oil prices overnight were down 29 ringgit (-0.71%) at 4054.

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 23 were: SRW Wheat down 9,877 contracts, HRW Wheat down 3,711, Corn down 39,395, Soybeans down 9,956, Soymeal down 10,456, Soyoil down 2,067.

 

DAILY WEATHER HEADLINES: 24 FEBRUARY 2026

• NORTH AMERICA: Above‑normal temperatures continue across most of the U.S., with wetter‑than‑average conditions in the Plains, Northwest, and Midwest.
• SOUTH AMERICA: Cool and mostly wet conditions will persist across the central Pampas corn and soybean belts, while Brazil’s Center-West expects moderate rainfall and the Southeast faces a risk of flooding.
• EUROPE: Central and Western Europe will see heat risks over the next 15 days, with dry spells across the region except Spain.
• ASIA: Near‑normal to slightly cooler temperatures are expected across Southeast Asia and South India over the next 15 days, with mixed temperature patterns in East Asia. Asia will remain mostly dry, aside from brief wet periods in China’s crop‑growing regions.
• AUSTRALIA: Moderate to heavy rains may support crop conditions across Australia’s major production belts.
• AFRICA: Rains may delay cocoa harvesting in Ivory Coast, while heavy rains may pose concerns for South Africa and Ethiopia crop belts.
• TELECONNECTIONS: The negative AAO pattern is expected to maintain dry conditions across southern South America into early March.

 

Brazil: Over the weekend, showers started increasing in coverage across central Brazil while fronts from Argentina produced widespread showers in southern Brazil. Showers are favorable for newly-planted safrinha corn. Through the middle of this week, showers will remain widespread across central Brazil before turning isolated late this week into the upcoming weekend. The country needs the rain as subsoil moisture continues to be low for this time of year and will be counted on for the coming safrinha corn crop.

Argentina: Showers moved through at a steady pace last week and this past weekend, but throughout this week, they’ll become more isolated and mostly dry conditions could return to some areas. Rain has stabilized corn conditions, but soybeans continue to fall and are now rated similar to last year’s disappointing campaign. It is getting too late for much of the early-planted crop and is continuing to exert pressure on the later-planted crop as well. With drier conditions forecast this week, that could be a larger problem, since February is now coming in with lower-than-normal rainfall like January for many areas.

Northern Plains: Sub-zero temperatures developed across the area this past weekend but only a brief warm up is expected this week before another round of cooler temperatures arrive by the end of the week. Clipper systems will move through at a steady pace this week, but showers will be light. Drought increased on Thursday’s drought monitor, but the more active storm track should help to raise snow pack and soil moisture.

Central/Southern Plains: Strong winds and dry soils have led to elevated wildfire conditions lately. Light snow showers fell across southwest Nebraska and Kansas last Friday, but showers have been relatively limited across the Central and Southern Plains. Soil moisture is not all that favorable for winter wheat, especially across the west, and drought is a big problem across Nebraska, Oklahoma, and Texas prior to spring planting. A warm up is expected this week before cooler temperatures return by the weekend. Showers will continue to be limited this week, mainly tagging northern areas.

Midwest: Snowpack is extremely low across most of the region and we will need to see significant precipitation prior to spring planting to feel good about soil moisture. Streaks of drought, especially from Missouri to northwestern Ohio, are the major issues heading into spring. Quick-hitting systems will move through this week and a mid-week system could drop a streak of light snow across the region. Temperatures will only make a brief recovery during the end of the week as they rise above average before cooling off over the weekend.

Delta: Water levels along the Mississippi River are still low and more moisture will be needed to ease the drought that is very widespread through the Delta prior to spring planting. As storm systems pass to the north this week, runoff from tributaries could continue to feed into the river. A cold front will swing through late this week across the Delta, but any heavier rain will likely remain across the Southeast.

 

The player sheet for 2/23 had funds: net sellers of 2,000 contracts of SRW wheat, buyers of 6,000 corn, sellers of 7,000 soybeans, and buyers of 4,000 soyoil.

TENDERS

• CORN SALE: The U.S. Department of Agriculture confirmed private export sales of 125,000 metric tons of U.S. corn for shipment to Colombia in the 2025/26 marketing year.
• U.S. CORN PURCHASE: 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.
• CORN PURCHASE: The Busan section of the Korea Feed Association (KFA) in South Korea purchased around 65,000 metric tons of animal feed corn in a private deal on Friday without issuing an international tender, European traders said on Monday.
• 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, European traders said on Monday. The deadline for submission of price offers in the tender is February 25, they said.
• SOFT MILLING 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. The tender sought a nominal 50,000 metric tons but Algeria often buys considerably more in its tenders than the nominal volume sought. The deadline for submission of price offers in the tender is February 24, with offers having to remain valid until February 25.
• RICE TENDER: The state purchasing agency in Mauritius has issued an international tender to buy 8,000 metric tons of long grain white rice sourced from optional origins, European traders said on Monday. The deadline for submission of price offers in the tender is March 13.

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.
• 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.

 

 

 

 

TODAY

US Inspected 2.005m Tons of Corn for Export, 670k of Soybeans

In week ending Feb. 19, according to the USDA’s weekly inspections report.

• Soybeans: 670k tons vs 1,215k the previous wk, 879k a yr ago
• Corn: 2,005k tons vs 1,505k the previous wk, 1,166k a yr ago
• Wheat: 535k tons vs 378k the previous wk, 390k a yr ago

 

US Corn, Soybean, Wheat Inspections by Country: Feb. 19

Following is a summary of USDA inspections for week ending Feb. 19 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 345k tons of the 670k total inspected
• Japan was the top destination for corn inspections, Philippines led in wheat

 

US CROP EXPORTS: 125,000 Tons of Corn to Colombia

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

• The sale is for 2025-26 marketing year

 

Brazil 2025/26 Soy Harvest 30% Done as of Feb. 19: Agrural

Brazil’s 2025/26 soybean harvest reached 30% of planted area as of Feb. 19, up from 21% a week earlier but below 39% a year ago, according to AgRural.

• Despite solid weekly progress on drier weather in the Center-West, pace is the slowest for this time of year since the 2020/21 crop
• Delayed planting, longer crop cycles and harvest-time rains weigh on progress, depending on state
• Brazil’s 2026 safrinha corn planting reached 50% of estimated area in the Center-South as of Jan. 19, up from 31% a week earlier but below 64% a year ago, AgRural said

 

Palm Oil Seen Trading Between 4,000-4,300 Ringgit in March: MPOC

Palm oil futures are expected to hover between 4,000 ringgit and 4,300 ringgit a ton next month, as stronger demand from India helps balance large global soybean supplies and rising soy oil exports from China, according to the Malaysian Palm Oil Council.

• Top buyer India is likely to increase consumption of palm oil, following its improved price competitiveness since late 2025, the council said in a statement on Tuesday
  • NOTE: Benchmark futures in Kuala Lumpur fell as much as 1.1% to 4,040 ringgit a ton on Tuesday
• Consumption of palm oil in India is forecast to rise by 800,000 tons this year, while the use of soybean and sunflower oils is set to decline by a combined 400,000 tons
• Despite this, palm’s upside potential is capped by rising soybean crushing in China and higher soy oil exports by the Asian nation
  • China became a net exporter of soy oil for the first time in 2025, and is expected to maintain that position in 2026, with exports projected at around 850,000 tons

 

Indonesia Jan. Palm Oil Exports Fall 14.41% M/m: Intertek

Indonesia’s palm oil exports fell 14.41% m/m in January, according to Intertek Testing Services.

• Palm oil exports fell to 2.276m tons from 2.659m tons in December
• Crude palm oil shipments fell to 278,475 tons from 365,600 tons in December
• RBD palm olein shipments rose to 1.031m tons from 1.021m tons in December
• RBD palm oil shipments fell to 344,615 tons from 486,083 tons in December
• Palm oil sales to European Union fell to 238,950 tons from 285,727 tons in December
• Palm oil sales to India fell to 808,697 tons from 907,341 tons in December
• Palm oil sales to China fell to 325,835 tons from 460,453 tons in December

 

India Notifies 2.5 Million-Ton Quota for Wheat Exports

India set an export quota of 2.5 million tons of wheat, according to the Directorate General of Foreign Trade, a department of the trade ministry.

• In addition to the approved volume, the government will permit further shipments based on requests from other countries to meet their food security needs
• The DGFT also notified the export of an additional 500,000 tons of wheat products
• NOTE: The food ministry announced the measures earlier this month, and the DGFT issued the formal notification on Tuesday

 

US cattle ranchers search for feed as wildfires burn grazing lands

Pasture lands have been stripped down to a sea of sand after wildfires tore across the U.S. Plains, killing cattle and wiping out their food sources, and threatening a historically small herd already linked to rising beef prices.

The loss of grass in Oklahoma and Kansas has sent ranchers scrambling for donations of hay to feed their herds as some face the prospect of running out of supplies.

Since last week, the biggest wildfire, the Ranger Road Fire, burned an estimated 283,283 acres (114,640 hectares) in northern Oklahoma and southern Kansas, the Oklahoma Department of Agriculture, Food and Forestry said on Monday. It was about 65% contained.

“Grass is gone,” said Collin Domer, 36, a volunteer firefighter for the Laverne Fire Department in Oklahoma who responded to the blaze.

“It’s sand. Take a sand pit and cover that over 285,000 acres.”

CATTLE SUPPLIES LOWEST IN 75 YEARS

Other fires have burned thousands more acres in Oklahoma, Kansas and Texas. Some cattle perished, state and industry officials said, without estimating the number.

“There’s been a lot of cattle loss,” said Bryce Boyer, spokesperson for the Oklahoma Department of Agriculture, Food and Forestry. “There’s been a lot of hay loss. The ones who do have cattle, a lot of them don’t have grass to feed them now.”

U.S. cattle supplies were already at their lowest level in 75 years after high prices and a persistent drought drove ranchers to send more animals to slaughter, instead of keeping them for breeding. Last year, Brazil surpassed the U.S. as the world’s top beef producer, according to industry estimates.

U.S. President Donald Trump has pledged to lower beef costs for consumers. However, retail prices for ground beef set a record high of $6.75 per pound in January, up 22% from a year earlier, due to low supplies and strong demand from consumers, according to U.S. government data.

CATTLE FLEE FIRE

Farmers cut fences to allow cattle to escape the wildfire last week, though some animals died and others suffered burns after being caught, said Heather Lansdowne, spokesperson for the Kansas Department of Agriculture. Veterinarians were working with ranchers to determine the best care for hurt animals, she said.

“While they were able to save a lot of cattle, those producers now don’t have anything to feed those cattle,” Lansdowne said.

Once the flames are extinguished, it may take longer than normal for pastures to be ready for grazing again depending on damage from the intense heat, said Michael Kelsey, executive vice president of the Oklahoma Cattlemen’s Association.

“That’s a long-term issue for some of those ranches,” he said. “They’ve got to give it a little longer to recover.”

In the meantime, Domer was spearheading an effort to collect hay, feed and other supplies for ranchers. He said he received donations from as far away as Montana and Michigan.

The Kansas Livestock Association was also coordinating hay donations and said it received offers from Kansas, Wisconsin and Illinois for local ranchers.

“The grass resources have been burned up,” association spokesperson Scarlett Madinger said. “They’ve got to have something to feed their livestock immediately.”

 

 

 

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