Global Ag News For March 26.2026

TOP HEADLINES

Kazakhstan, Belarus Curb Russian Livestock Imports Over Disease

Kazakhstan and Belarus imposed restrictions on imports of livestock, animal products and related feed from Russia after outbreaks of disease in their larger neighbor.

Kazakh authorities this week temporarily banned some animal feeds and related products from Russia, ordering that any such goods entering the country be returned, the Tass news service said, citing the nation’s Grain Union. The Central Asian republic already curbed the import and transit of livestock and animal products, while boosting transport disinfection and cargo inspections.

Belarus had previously imposed a temporary ban on imports of animals and animal products from at least 20 Russian regions, including Stavropol in the south. The restrictions cover meat, dairy products, animal-origin raw materials and feed containing animal components.

Russia began culling infected livestock in the Siberian region of Novosibirsk after reports of illnesses, including pasteurellosis. While the situation with that bacterial disease has “stabilized,” the region has also had 50 rabies cases this year, state-run Tass reported Wednesday.

While such steps are not uncommon and neighboring countries often impose bans as a precaution, the measures come as Russia’s economy slows under high interest rates, straining sectors including agriculture and raising the risk of localized discontent if farmers’ losses deepen. The culling in the Novosibirsk region has already sparked protests by small farmers, some calling for accountability from authorities.

The pasteurellosis outbreaks have now been localized and infection and spread zones contained, Sergei Dankvert, head of Russia’s veterinary and food safety watchdog, was cited by Tass as saying Wednesday. The disease affected five districts and about 0.6% of farms. Compensation is being offered to farmers for culled animals, with additional social support and partial reimbursements for rebuilding herds.

 

FUTURES & WEATHER

Wheat prices overnight are down 3 in SRW, up 1/2 in HRW, up 0 in HRS; Corn is down 1/4; Soybeans up 1; Soymeal down $1.90; Soyoil up 0.55.

For the week so far wheat prices are down 1/2 in SRW, up 12 in HRW, up 1/7 in HRS; Corn is up 1 1/2; Soybeans up 11 1/2; Soymeal down $10.10; Soyoil up 2.14.

For the month to date wheat prices are up 3 1/4 in SRW, up 37 3/4 in HRW, up 2/7 in HRS; Corn is up 18 1/2; Soybeans up 2; Soymeal down $2.60; Soyoil up 5.80.

Year-To-Date nearby futures are up 17.3% in SRW, up 20.1% in HRW, up 11.8% in HRS; Corn is up 6.1%; Soybeans up 13.8%; Soymeal up 7.9%; Soyoil up 40.7%.

Chinese Ag futures (MAY 26) Soybeans down 2 yuan; Soymeal up 7; Soyoil up 46; Palm oil up 6; Corn down 1 — Malaysian Palm is up 89.

Malaysian palm oil prices overnight were up 89 ringgit (+1.98%) at 4585.

There were no changes in registrations. Registration total: 34 SRW Wheat contracts; 93 Oats; 641 Corn; 523 Soybeans; 1,536 Soyoil; 213 Soymeal; 108 HRW Wheat.

Preliminary changes in futures Open Interest as of March 25 were: SRW Wheat up 6,588 contracts, HRW Wheat down 679, Corn down 116, Soybeans down 701, Soymeal up 1,745, Soyoil up 8,083.

 

DAILY WEATHER HEADLINES: 26 MARCH 2026

• NORTH AMERICA: Warm temperatures continue across much of the U.S., while wet conditions persist in the North Plains and Northwest’s winter wheat areas.
• SOUTH AMERICA: Warm temperatures with wet spells will persist across the southern Pampas corn and soybean regions, while Brazil’s South/Center West turn dry, and wet spells remains confined to the Southeast and Northeast.
• EUROPE: Central Europe will see near normal to cooler temperatures over the next 10 days, with wet spells continue across Germany, eastern France, and Poland.
• ASIA: Asia will remain mostly dry and cooler, with below‑normal conditions largely confined to northern India and parts of Southeast Asia, while occasional wet spells are expected across the central and northern wheat‑growing regions of China and north India.
• AUSTRALIA: Severe Tropical Cyclone Narelle is bringing severe winds and coastal damage to Learmonth and Exmouth and causing major disruptions along Western Australia’s north and northwest coast.
• TELECONNECTIONS: MJO Phase 8 is forecast to bring wet conditions across South America and Africa through first half of April.

 

Northern Plains: A system is moving through on Wednesday with some northern showers. A front will move through on Thursday with a few more and a round of cooler air that will be very brief. Temperatures should rise on Saturday and the weather pattern will be more active next week as a couple of systems will make their way through. Eventually, some colder air is likely to move in later next week, which could make for some snow. The region would certainly welcome some precipitation ahead of spring planting.

Central/Southern Plains: Temperatures again are rising quite significantly for Wednesday before another strong front moves through on Thursday and Friday with another round of cooler air. Temperatures continue on the rollercoaster ride with rising readings next week. Despite the fronts, precipitation is not occurring, which is causing drought to expand across the region, especially in the west. The weather pattern will get more active next week, but that does not guarantee precipitation for some of the driest areas. Winter wheat conditions are falling significantly and soil moisture conditions are not favorable for many areas for spring planting.

Midwest: A couple of fronts have been hanging out across the north this week where showers have been spotty. But a stronger front will move through on Thursday with another round of colder air and scattered showers. The colder air will be very brief, however. The weather pattern will get more active next week, which would increase potential for strong thunderstorms and heavy rain, favorable for increasing soil moisture and reducing drought ahead of spring planting.

Delta: Recent dry conditions are turning the momentum around toward building drought instead of reducing it, which is already widespread across the region. While this will make fieldwork very easy, it will not be favorable for early growth as soil moisture is becoming limited again after some good rain in early March. The pattern looks to be a bit more active next week and into early April, but may not necessarily bring through much precipitation.

Brazil: Scattered showers continue for the next couple of days, but those showers will thin out by this weekend and will likely be more isolated through next week for much of the safrinha corn areas as well as the south. Conditions are mixed for safrinha corn so far, and there is roughly a month left to the wet season. Any dry time now is unfavorable for the crop.

Argentina: More showers will be possible later this week and weekend as crop conditions have stabilized after recent rains. Though the rainfall appears to be favorable, much of the crop is either in the midst of harvest, as is the early-planted corn, or heading toward maturity, such as early-planted soybeans. So the rainfall is only somewhat helpful. Drier conditions earlier this year have already taken their toll on production.

 

The player sheet for 3/25 had funds: net buyers of 2,500 contracts of SRW wheat, buyers of 12,000 corn, buyers of 12,000 soybeans, buyers of 2,000 soymeal, and buyers of 9,500 soyoil.

TENDERS

• CORN PURCHASE: Taiwan’s MFIG purchasing group bought about 65,000 metric tons of animal feed corn expected to be sourced from the United States in an international tender on Wednesday, European traders said. The yellow corn was purchased at an estimated premium of 199.95 U.S. cents a bushel, cost and freight (c&f) included, over the CBOT September CU26 corn futures contract, they said. The seller was believed to be trading house Dreyfus.
• WHEAT PURCHASE: South Korea’s Feed Leaders Committee (FLC) on Wednesday purchased around 65,000 metric tons of animal feed wheat to be sourced from worldwide origins in a private deal without issuing an international tender, European traders said on Thursday.
• BARLEY PURCHASE: Jordan’s state grain buyer purchased about 50,000 metric tons of animal feed barley in an international tender, European traders said. The barley was said to have been bought from trading house CHS at an estimated $259.00 a ton, cost and freight (c&f) included, to be shipped in the second half of July.
• WHEAT TENDER: Jordan’s state grain buyer issued an international tender to buy up to 120,000 metric tons of milling wheat that can be sourced from optional origins, European traders said. The deadline for submission of price offers in the tender is March 31.

PENDING TENDERS

• WHEAT TENDER: Algeria’s state grains agency OAIC issued an international tender to buy milling wheat, European traders said. OAIC indicated a nominal volume of 50,000 metric tons, but the agency usually buys much more. The deadline for offers is on March 26, the traders added.

 

 

 

TODAY

DOE: US Ethanol Stocks Rise 2.9% to 27.17M Bbl

According to the US Department of Energy’s weekly petroleum report.

• Analysts were expecting 26.409 mln bbl
• Plant production at 1.116m b/d, compared to survey avg of 1.099m

 

GRAIN EXPORT SURVEY: Corn, Soy, Wheat Sales Before USDA Report

Estimate ranges are based on a Bloomberg survey of four analysts; the USDA is scheduled to release its export sales report on Thursday for week ending March 19.

• Corn est. range 800k – 1,800k tons, with avg of 1,275k
• Soybean est. range 200k – 900k tons, with avg of 425k

 

Trade estimates for USDA US quarterly grain stocks

The following are analysts’ estimates for U.S. quarterly grain stocks as of March 1, 2026, in billions of bushels.

The U.S. Department of Agriculture is scheduled to release its quarterly stocks report on Tuesday, March 31, at 12 p.m. EDT (1600 GMT).

The average trade estimate for corn, 9.036 billion bushels, would represent the largest March 1 stocks in USDA records dating to 1927. The figure is up 10.9% from year-ago March 1 corn stocks totaling 8.147 billion bushels.

For soybeans, the average March 1 stocks estimate of 2.063 billion bushels would represent a six-year high, up 8% from 2025. For wheat, the average estimate of 1.295 billion bushels would be a five-year high, up 4.7% from 2025.

 

Brazil’s Second Corn Crop Projected to Drop by 7.6%: Agroconsult

Brazil’s second corn crop is expected to reach 114.5 million tons in the current season, down 7.6% from the previous harvest, Agroconsult says in a statement.

• The planted area will likely be 18.5 million hectares (45.7 million acres), with average productivity estimated at 103.1 bags per hectare
• “What will define the productive potential is the weather behavior in April. Despite the rains in March and the good levels of soil moisture, the climate models diverge,” wrote André Debastiani, coordinator of Agroconsult’s Rally da Safra expedition
• In addition, Agroconsult expects Brazil to produce 184.7 million tons of soybeans in the 2025-26 season, up 6.7% from the prior season
• The estimate is above its March forecast of 183.1 million tons
• Soybean planted area forecast for 2025-26 was revised up to 49.1 million hectares

 

Trump to Travel to China on May 14-15 for Summit With Xi

President Donald Trump and Chinese leader Xi Jinping will hold their highly anticipated summit in Beijing on May 14-15, following a delay that brought fresh uncertainty to relations between the world’s largest economies.

White House Press Secretary Karoline Leavitt announced the rescheduled dates on Wednesday and said that Xi would visit Washington at a date later this year.

Trump was due to visit China later this month but the US president postponed the meeting to remain in Washington and focus his attention on the war with Iran. The war brought fresh strains to US-China ties, even as the two economies sought to navigate lingering issues from a trade détente struck last year and simmering tensions over Taiwan. Iran is a major trading partner for China, the world’s biggest crude importer.

Leavitt said the administration has “always estimated approximately four-to-six weeks” for the conflict when asked if the new dates indicated Trump would look to wind down the war by that point. And she sidestepped a question about whether concluding the war was a precondition for rescheduling the summit.

“There was a discussion about the rescheduling of the meeting between the president and President Xi. President Xi understood that it’s very important for the president to be here throughout these combat operations right now. He understood, obviously the request to postpone and accepted it, which is why we have new dates on the books,” Leavitt said.

While US officials downplayed any fallout from delaying the summit, insisting it had nothing to do with trade ties or China’s relationship with Iran, the postponement highlighted how the Middle East conflict has upended Trump’s economic and foreign policy agendas. Trump had previously warned the summit could be pushed back if China did not commit to helping secure the Strait of Hormuz, a critical waterway for energy supplies effectively shuttered by the war.

Trump has generally struck an upbeat tone with China, challenging the limits of his own Republican Party’s appetite for closer ties with a country that many hawks see as America’s chief geopolitical adversary.

Still, Trump and Xi have much to discuss. The rescheduled meeting will pose a fresh test of how comfortable Trump and Xi are with the status quo on trade, US support for Taiwan and whether there will be any fallout for the US strikes on Iran that spurred a spike in oil prices.

Officials from the two countries, including US Trade Representative Jamieson Greer and Treasury Secretary Scott Bessent, met in Paris in March, a gathering intended to lay the groundwork for the summit. Both sides expressed a willingness to continue to stabilize their relationship after a tit-for-tat tariff war that saw levies surge in 2025 and spark fears of a global economic downturn. The countries are discussing a possible trade enforcement panel to help address disputes, a mechanism Greer has called “a US-China Board of Trade.”

The summit will be the first face-to-face for Trump and Xi since the US Supreme Court ruling in February struck down the country-by-country tariffs the US president imposed on trading partners, including China, using emergency powers. The US president has vowed to rebuild that tariff wall through other authorities.

Trump has already imposed an across-the-board 10% levy as a stopgap measure, effectively lowering the rate on Chinese goods for now. Greer has launched Section 301 probes, however, to establish the case for tariffs on countries, including China, that may ultimately replace the stopgap levies set to expire in July.

 

Indonesia Feb. Palm Oil Exports Rise 4.42% M/m: Intertek

Indonesia’s palm oil exports rose 4.42% m/m in February, according to Intertek Testing Services.

• Palm oil exports rose to 2.376m tons from 2.276m tons in January
• Crude palm oil shipments rose to 282,930 tons from 278,475 tons in January
• RBD palm olein shipments fell to 953,824 tons from 1.031m tons in January
• RBD palm oil shipments rose to 444,606 tons from 344,615 tons in January
• Palm oil sales to European Union rose to 276,187 tons from 238,950 tons in January
• Palm oil sales to India fell to 650,556 tons from 808,697 tons in January
• Palm oil sales to China rose to 439,002 tons from 325,835 tons in January

 

Soaring costs prompt French farmers to reconsider sowings

• French farmers switching to sunflower from maize – Intercereales
• Iran conflict exacerbates costs for farmers
• Maize crops need more fertilisers, energy than sunflower
• French farmers may leave some land fallow next year

Some French farmers are planning to switch sowings from maize to sunflower, which requires less fertiliser and energy, as they face a challenging year marked by soaring costs, the head of French grain lobby Intercereales said on Wednesday.

Farmers in France, like their counterparts in other countries, are grappling with rising fuel, gas, and fertiliser prices, exacerbated by the U.S.-Israeli war on Iran, Intercereales Director General Benoit Pietrement said, warning that the futures of some farms in the European Union’s top grain producer are at risk.

“All the great plains in the north were fairly well covered (in fertilisers), but in the south, where there are more maize growers, the coverage is much lower, and I hear that farmers are replacing maize with sunflower,” Pietrement told Reuters on the sidelines of a grain exports conference.

The full extent of the shift to sunflower plantings would become clearer in the coming weeks, with initial indications suggesting a significant area could be affected, he said. Maize sowing in France typically begins in April.

French farmers had already increased sunflower plantings at maize’s expense in 2022, amid surging fertiliser and gas prices following Russia’s invasion of Ukraine.

According to Pietrement, this year looks to be the most challenging year ever for farmers, as low prices now contrast sharply with 2022, when fears of Ukraine’s absence from the export market had sent grain prices soaring.

The tough economic climate could also lead some farmers to plant less grain next year, with an option to leave land fallow while still receiving EU farm subsidies.

“Even I have doubts about the 2027 harvest, given current prices, on whether to reintroduce crop rotation and grow cereals again or increase the amount of fallow land,” said Pietrement, who also serves as chairman of a cooperative union.

 

Trump EPA Allows Summer Sales of Higher-Ethanol Gasoline

The Trump administration will waive higher-ethanol E15 gasoline from US volatility requirements this summer, expanding sales and delivering a win for corn farmers and biofuels producers.

“Through the waiver, we are fortifying the domestic gasoline supply chain and providing Americans relief at the pumps ahead of the upcoming summer driving season,” Environmental Protection Agency Administrator Lee Zeldin said. The agency said in a statement it would give drivers more options and deliver a bigger domestic market for farmers.

The waiver will run from May 1 until May 20, Zeldin said at the CERAWeek by S&P Global conference in Houston. Bloomberg reported earlier that the agency would announce the waiver on Wednesday.

The move repeats a strategy President Donald Trump used in 2025 — and that was previously employed for three years under former President Joe Biden — to broaden the availability of E15 gasoline in summertime. It also comes as the Trump administration is taking steps to help ease energy costs for consumers amid the Iran war.

And it allows the president to tout a victory for an important political constituency — corn farmers, biofuel producers and rural voters — who have pushed for changes allowing year-round E15 sales. Some industry representatives have lobbied the EPA to clarify its plans for summer sooner, in time for filling stations and fuel distributors to adapt.

Under the approach, the EPA will issue emergency fuel waivers temporarily exempting E15 gasoline from volatility restrictions that effectively block warm-weather sales of the fuel in areas where smog is a problem.

Biden first ordered such emergency waivers in 2022, casting it as a bid to lower fuel prices — in a midterm election year. Similar dynamics now confront Trump, eight months before November midterm elections that are expected to hinge on voters’ concerns about the cost of living. Oil and gasoline prices have spiked amid the war in the Middle East that has paralyzed the movement of millions of barrels of crude.

“If ever there were justifiable conditions to merit an emergency waiver for E15, it would be now,” Brian Jennings, chief executive officer of the American Coalition for Ethanol, said in a statement.

E15, which is made with 15% corn-based ethanol, generally runs cheaper per gallon than conventional E10 gasoline — though it’s also less energy dense. Since the heat of summer increases the evaporation of all liquids, including gasoline, the US imposes more stringent limits between June 1 and Sept. 15 on Reid vapor pressure, the propensity for gasoline to evaporate and lead to smog.

Under the Clean Air Act, the EPA can waive those requirements to address shortages. But the emergency waivers previously have drawn criticism from some refiners that argued they haven’t been adequately justified.

For years, ethanol producers and some fuel refiners have been pushing for more permanent change.

They’ve pressed Congress to rewrite federal law and effectively extend an existing Reid vapor pressure exemption that applies to E10 gasoline so it also applies to E15. But efforts to broker a legislative compromise have repeatedly stalled, with a recent push complicated by a fight over how to exempt some refiners from annual biofuel-blending quotas.

“It’s our hope that EPA’s action today does not take any of the heat off of a legislative fix,” said Geoff Cooper, chief executive officer of the Renewable Fuels Association.

A previous effort to make the shift through regulation also failed during Trump’s first term in the White House. At the time, the EPA finalized a rule that extended the E10 waiver to E15 — but a federal court tossed it out after a legal challenge by some refiners.

“We have to get out of this cycle of ad hoc emergency waivers every summer,” said Cooper, speaking on the sidelines of the Bloomberg Intelligence Farm, Food & Fuel Summit in Kansas City. “That’s not the certainty that the marketplace needs. It might help existing retailers limp along through the summer months, but it’s certainly not enough to lure new retailers into the E15 space.”

 

 

 

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