Global Ag News For March 12.2026

TOP HEADLINES

DJ Calls for Trump Action on Fertilizer Prices Grow

A group called Farm Action, which describes itself as “a nonpartisan agricultural watchdog led by farmers,” says that it has sent a letter to President Trump requesting him to act to put an end to skyrocketing fertilizer prices seen since the war with Iran began. The letter, dated for today, is also addressed to the Federal Trade Commission, the DoJ, the USDA, and the National Economic Council, calls for federal action in order to dissuade companies from price-gouging while the war affects fertilizer supply. The shutdown of the Strait of Hormuz is preventing cargo vessels from bringing shipments of fertilizer stateside.

 

FUTURES & WEATHER

Wheat prices overnight are up 5 3/4 in SRW, up 4 in HRW, up 0 in HRS; Corn is up 4 3/4; Soybeans up 10; Soymeal up $2.60; Soyoil up 0.52.

For the week so far wheat prices are down 15 1/4 in SRW, down 5 1/4 in HRW, up 0 in HRS; Corn is up 5; Soybeans up 24 1/4; Soymeal up $1.00; Soyoil up 1.25.

For the month to date wheat prices are up 9 in SRW, up 37 in HRW, up 1/3 in HRS; Corn is up 16 1/2; Soybeans up 53 1/4; Soymeal down $2.50; Soyoil up 5.83.

Year-To-Date nearby futures are up 16.1% in SRW, up 16.9% in HRW, up 8.9% in HRS; Corn is up 1.9%; Soybeans up 16.5%; Soymeal up 7.4%; Soyoil up 39.5%.

Chinese Ag futures (MAY 26) Soybeans up 57 yuan; Soymeal up 42; Soyoil up 136; Palm oil up 254; Corn up 12 — Malaysian Palm is up 35.

Malaysian palm oil prices overnight were up 35 ringgit (+0.78%) at 4534.

There were changes in registrations (100 Soyoil, 10 Soymeal). Registration total: 34 SRW Wheat contracts; 94 Oats; 689 Corn; 523 Soybeans; 1,536 Soyoil; 239 Soymeal; 108 HRW Wheat.

Preliminary changes in futures Open Interest as of March 11 were: SRW Wheat up 9,021 contracts, HRW Wheat down 224, Corn up 46,175, Soybeans up 15,897, Soymeal up 6,697, Soyoil up 9,386.

 

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

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

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

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

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

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

Midwest – West: Isolated to scattered showers Thursday. Mostly dry Friday. Isolated to scattered showers Saturday-Sunday. Temperatures above normal Thursday-Saturday, falling Sunday.

Midwest – East: Mostly dry Thursday. Scattered showers Friday. Mostly dry Saturday. Scattered showers Sunday. Temperatures near to above normal through Sunday. Outlook: Lake-effect snow Monday. Mostly dry Tuesday. Scattered showers Wednesday-Thursday. Mostly dry Friday. Temperatures below normal Monday-Tuesday, near normal Wednesday, above normal Thursday-Friday. Mississippi Delta highlights… Isolated showers. Temperatures well above normal.

 

The player sheet for 3/11 had funds: net buyers of 2,500 contracts of SRW wheat, buyers of 13,000 corn, buyers of 10,500 soybeans, buyers of 2,000 soymeal, and buyers of 14,500 soyoil.

 

TENDERS

• WHEAT PURCHASE: A group of South Korean flour mills bought an estimated 32,000 metric tons of milling wheat to be sourced from the U.S. in an international tender seeking around 30,000 tons, European traders said.
• UPDATE ON WHEAT PURCHASE: Algeria’s state grains agency OAIC was believed to have purchased around 150,000 to 200,000 metric tons of milling wheat in an international tender seeking restricted shipment to two ports only, European traders said. This was at the lower end of trader estimates from Tuesday.
• BARLEY PURCHASE: Jordan’s state grain buyer purchased about 50,000 metric tons of animal feed barley in an international tender, European traders said.
• WHEAT TENDER: Jordan’s state grains 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 the submission of price offers is March 17.
• WHEAT TENDER: The Taiwan Flour Millers’ Association issued an international tender to purchase an estimated 105,020 metric tons of grade 1 milling wheat to be sourced from the United States, European traders said. The deadline for submitting price offers is March 19.

PENDING TENDERS

• RICE TENDER: South Korea’s state-backed Agro-Fisheries & Food Trade Corp issued an international tender to purchase an estimated 74,382 metric tons of rice, European traders said. The deadline for submissions of price offers was March 11.
• SOYBEAN TENDERS: South Korea’s state-backed Agro-Fisheries & Food Trade Corp issued international tenders to purchase around 45,000 metric tons of food-quality soybeans free of genetically-modified organisms, European traders said. The deadline for submissions of price offers is March 12.
• RICE TENDER: The state purchasing agency in Mauritius issued an international tender to buy 8,000 metric tons of long-grain white rice sourced from optional origins, European traders said. The deadline for submission of price offers is March 13.
• BARLEY TENDER: Turkey’s state grain board TMO issued an international tender to purchase and import about 175,000 metric tons of animal feed barley, European traders said. The deadline to submit price offers is March 13.
• CORN TENDER: Turkey’s state grain board TMO issued an international tender to purchase and import 280,000 metric tons of animal feed corn, European traders said. The deadline for submission of price offers is March 16, they added.

 

 

 

 

TODAY

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 5.

• Corn est. range 1,000k – 2,200k tons, with avg of 1,513k
• Soybean est. range 300k – 800k tons, with avg of 400k

 

DOE: US Ethanol Stocks Fall 2.9% to 25.58M Bbl

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

• Analysts were expecting 26.443 mln bbl
• Plant production at 1.126m b/d, compared to survey avg of 1.108m

 

CROP TENDER: USDA Seeks Soybean Meal for Shipment to Colombia

The US Department of Agriculture is looking for offers of 50,000 tons of soybean meal for shipment to Colombia, according to a Wednesday statement.

• Of the total, 30,000 tons are for port of Santa Marta and 20,000 tons for Barranquilla
• Loading set for May 1-10
• Offers due March 18

 

India Feb. Vegetable Oil Imports Fall to 1.32m Tons: SEA

India’s vegetable oil imports fell to 1.32m tons in February from 1.339m tons in January, according to the Solvent Extractors’ Association of India.

• Palm oil imports rose to 847,689 tons from 766,384 tons in January
• Soybean oil imports rose to 299,046 tons from 278,888 tons in January
• Sunflower oil imports fell to 145,308 tons from 266,575 tons in January

 

Brazil’s SLC Sees Risk to Corn Yields From Delayed Planting

Brazilian crop producer SLC Agricola sees risk of lower-than-ideal yields in this season’s winter corn crop as ample rain delayed plantings, CEO Aurelio Pavinato says during Wednesday press conference.

• Company sowed 72.3% of planned corn as of March 6, with remainder set to occur outside the most-favorable time period
• Strong domestic demand in Brazil set to sustain prices, potentially aiding revenues even if production is hurt: Pavinato
• SLC has yet to secure potash and nitrogen for upcoming 2026-27 season
  • Phosphate supplies already fully secured

 

Cargill halts Brazil soy shipments to China due to inspection changes, executive says

Cargill has paused soybean export operations from Brazil to China after inspection changes made by the Brazilian government that make it difficult for traders to comply, the company’s Latin America head Paulo Sousa said on Wednesday.

Sousa said Brazil’s Agriculture Ministry adopted a stricter sanitary evaluation on soybeans bound for China to check for pests and weeds after a request from the Chinese government. He said the new system is something unusual in the grains market.

“We have a standard inspection system in the trade, with samplings. Brazil’s Agriculture Ministry started doing its own new type of analysis,” Sousa said, adding the change brings different results from inspections.

“As a result, sanitary certificates that need to go along with the shipments to the destination, in some cases are not being issued,” he said on the sidelines of the Argentina Week 2026 conference hosted by Bank of America in New York.

Without the certificates, soy vessels cannot travel.

Cargill has also stopped buying beans from local farmers in Brazil, Sousa said, since it cannot export them to China for the moment.

Some posts on X on Wednesday by Brazilian grain brokers and farmers cited that there were hardly any bids by traders to buy local soybeans.

China is by far the biggest client of Brazilian soybeans, buying around 80% of the beans the South American country exports. Brazil is the world’s largest producer and exporter of the oilseed.

The executive said the new inspections started early last week. There are ongoing negotiations, but so far no solution, he said.

Brazil’s Agriculture Ministry did not return a request for comment late on Wednesday.

Brazilian grains export lobby ANEC said in a note on Wednesday there are worries among exporters about how they will be able to align operations to the new inspection system when Brazil is in the peak period of soy exports.

 

Argentina grains exchange holds soy, corn forecasts after February rains

Argentina’s Rosario grains exchange (BCR) on Wednesday maintained its soybean and corn production forecasts after widespread February rains helped stabilize crop conditions across key growing regions.

• The monthly crop report kept its 2025/26 soybean forecast at 48 million tons and corn at 62 million tons.
• Argentina is the world’s largest exporter of soybean oil and meal and the world’s third-largest corn exporter.
• February rains exceeded average levels in the Pampas region’s west and center-north, supporting soybeans and late corn, BCR said.
• But the grains exchange said some areas of Buenos Aires province still face water shortages.
• Some Argentine farmers have already begun harvesting corn; soybean harvest starts in April.
• Wheat 2025/26 production estimate updated to 29.5 million tons; harvest ended in January.

 

Russia’s March Wheat Exports to Almost Double Y/y: Rusagrotrans

Russia’s wheat exports in March are expected to reach 3.7m tons, according to the analytical center of railway operator Rusagrotrans. That’s almost double the volume shipped in March 2025 and well above the five-year average of about 2.9m tons.

• Shipments include exports to Eurasian Economic Union
• Last year, 2.01m tons were shipped in March
• Rusagrotrans sees July-March exports totaling 36m tons, almost reaching the level for the same period last year, which was 36.3m tons

  

FranceAgriMer cuts non-EU soft wheat export forecast again

Farm office FranceAgriMer on Wednesday cut for a fourth straight month its forecast for French soft wheat exports outside the European Union in 2025/26, leading it to raise its outlook for end-of-season stocks to a 16-year high.

France is the EU’s largest wheat producer and it has faced stiff export competition, including from a record crop in Argentina.

• In a supply and demand outlook, FranceAgriMer reduced its forecast for non-EU soft wheat exports this season to 7.10 million metric tons from 7.20 million projected in February.
• That would still be double the amount exported outside the bloc last season and above the five-year average.
• The office increased marginally its forecast for French soft wheat shipments within the EU in 2025/26 to 7.57 million tons from 7.56 million previously and 6.81 million in 2024/25.
• It increased its outlook for soft wheat stocks at the end of 2025/26 to 3.39 million tons from 3.05 million last month, also due to a higher forecast of the delivered crop.
• The new stocks projection, now expected 37% above last season, marks the highest level since 3.43 million tons in 2009/10, FranceAgriMer data shows.
• For barley, the office increased slightly its 2025/26 stocks projection to 1.38 million tons from 1.37 million last month, and 19% above 2024/25.
• For maize, projected 2025/26 stocks were raised to 2.33 million from 2.19 million, mainly due to an upward revision to harvest supply, now expected 6.4% above last season.

 

Indonesia expediting road test on B50 biofuel, energy ministry says

Indonesia is accelerating its road test for B50 biodiesel made with 50% palm oil and 50% conventional oil, in case it struggles with crude oil supply due to conflict in the Middle East, its deputy energy minister said on Wednesday.

Indonesia is considering raising its mandatory blend for biodiesel to B50 later this year, from the current B40 blend, due to rising crude prices.

 

Indonesia’s palm oil export demand cools as Middle East conflict lifts freight, insurance costs

Palm oil export orders for new shipments have moderated after the U.S.-Israeli war with Iran drove up logistics and insurance costs, Indonesia’s leading producers’ body GAPKI said on Wednesday.

Indonesia is the world’s largest exporter of palm oil, used in foods, cosmetics and cleaning products. The oil accounts for more than half of global vegetable oil shipments and is widely consumed in emerging markets such as India.

GAPKI chairman Eddy Martono said shipping and insurance costs rose by 50% after the conflict broke out, as the ships were forced to take a longer route while insurance costs increased due to conflict-related risks.

“There has been a slight decrease in demand … because costs have increased. We are now fulfilling the contracts we have signed. But for the new ones, there has been a slight decrease,” Eddy told reporters.

Despite the ongoing exports, he said a slower pace of shipments could result in a stock buildup in Indonesia, the world’s largest palm oil producer, which could put pressure on palm oil prices.

Eddy said GAPKI has no estimates yet on how much exports have declined, but there were some indications of a downturn. He added an estimate could be available at the end of March.

Indonesia shipped 1.8 million metric tons of palm oil to the Middle East last year, Eddy said, about 5% of the country’s palm oil exports.

Meanwhile, demand from top buyers India and China was also lacking, Eddy said, as edible oil stocks in both markets appeared stable.

Palm oil prices have risen more than rival soyoil and sunflower oil since the conflict began, erasing its price advantage, said a New Delhi-based dealer with a global trade house.

“The landed cost of palm oil in India was nearly $100 per ton lower than soyoil just a month ago. Now it is only about $30 cheaper. For European buyers, palm oil is more expensive than soyoil because of higher freight,” the dealer said.

 

Smaller German wheat crop, bigger rapeseed crop expected in 2026, farm body says

Germany’s 2026 wheat crop of all types will fall 3.8% on the year to around 22.28 million metric tons, the country’s association of farm cooperatives said in its first harvest estimate on Thursday.

It forecast Germany’s harvest of winter rapeseed, used for vegetable oil and biodiesel production, will rise 3.7% on the year to an estimated 4.122 million tons.

The association’s estimates are traditionally the first detailed forecast of Germany’s grains and rapeseed harvests.

 

Malaysia Sets Crude Palm Oil Export Tax at 9.5% for April

The gazetted price for crude palm oil was set at 3,935.19 ringgit a ton, which incurs an export tax of 9.5%, according to a circular from the customs department posted on the Malaysian Palm Oil Board’s website.

• NOTE: The export-duty structure starts at 3%, when FOB prices for CPO are in a range of 2,250-2,400 ringgit/ton, to a maximum rate of 10%, which occurs when prices are above 4,050 ringgit/ton

 

Financial investors extend net long position in Euronext wheat

Non-commercial market participants extended their net long position in Euronext’s milling wheat futures and options in the week to March 6, data published by Euronext on Wednesday showed.

Non-commercial participants, which include investment funds and financial institutions, extended their net long position to 58,824 contracts from 20,615 a week earlier, the data showed.

Commercial participants extended their net short position to 62,515 contracts from 24,947 a week earlier.

Commercials’ short positions accounted for 60.2% of the total short positions, while commercial long positions accounted for 47.6% of total long positions.

Non-commercial short positions represented 39.8% of total short positions, while non-commercial net long positions accounted for 52.4% of the total longs.

In Euronext’s rapeseed futures and options, non-commercial market participants extended their net long position to 60,362 contracts from 55,218 a week earlier.

Commercial participants extended their net short position in rapeseed to 66,255 contracts from 60,144 a week earlier.

 

Brazil’s Agrion aims to make 500,000 metric tons of fertilizer per year from waste sugarcane

Brazil’s Agrion Fertilizantes is targeting production of half a million metric tons of fertilizer made from waste sugarcane by 2031, which would help the country offset exposure to geopolitical risks, founder and CEO Ernani Judice said on Wednesday.

Brazil, an agricultural giant, is the world’s top sugar producer and grows hundreds of millions of tons of sugarcane each year. At the same time, it imports the overwhelming majority of the fertilizer it uses, exposing its agriculture sector to the ebb and flow of global tensions.

Attacks launched by Israel and the U.S. against Iran in recent weeks sent prices for oil and other commodities skyward, throwing Brazil’s reliance on foreign fertilizer imports into sharp relief.

Brazil imports approximately 85% of the 41 million tons of fertilizer it uses each year, according to the country’s research agency Embrapa. In particular, an estimated 41% – or nearly 3 million tons – of its imports of urea, a major component in some fertilizers, passed through the Strait of Hormuz before reaching Brazil in 2025, according to data from consultancy Agrinvest.

“Brazil imports 20% of its fertilizer from countries that are always embroiled in geopolitical issues,” Judice said during a presentation at an industry event held by consultancy Datagro in Ribeirao Preto, in the Brazilian state of Sao Paulo.

“Right now, there’s the serious situation with Iran, but something happens every year,” he said.

The company is supported by the Global Fund for Coral Reefs, which has so far invested $20 million in Agrion and could increase that sum to $50 million, Judice said on the sidelines of the Datagro event.

Agrion takes waste sugarcane to make its fertilizer in factories that it builds alongside existing sugar and ethanol mills, Judice said.

While the company currently has three factories in Brazil – one producing some 40,000 metric tons of fertilizer each year and another two under construction – it expects to reach 10 factories by 2031.

“The business plan today … involves 10 plants and will produce around 500,000 tons of fertilizer per year. This would bring us close to 2 billion reais ($387.4 million) in revenue,” Judice said in an interview.

 

 

 

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