Global Ag News For March 11.2026

TOP HEADLINES

USDA sets launch dates for new export sales reporting system

The U.S. Department of Agriculture plans to roll out an upgraded system for its agricultural export sales reporting program on March 26 and the first weekly sales report using the new system is scheduled for April 2, the agency said in an emailed statement.

The USDA’s legacy system for export sales queries will be available for approximately one week after the launch of the new system, the USDA said.

The launch of the new system follows a failed roll-out in 2022 that delayed export sales reports for three weeks. Exporters are required by law to report sales of U.S. agricultural commodities to the USDA’s Foreign Agricultural Service, which reports weekly export sales each Thursday.

 

FUTURES & WEATHER

Wheat prices overnight are up 8 1/2 in SRW, up 9 1/2 in HRW, up 0 in HRS; Corn is up 4 1/4; Soybeans up 13; Soymeal down $0.60; Soyoil up 1.93.

For the week so far wheat prices are down 17 1/4 in SRW, down 5 1/4 in HRW, down 0 in HRS; Corn is down 4; Soybeans up 14; Soymeal down $3.30; Soyoil up 0.97.

For the month to date wheat prices are up 8 in SRW, up 37 3/4 in HRW, up 1/4 in HRS; Corn is up 8; Soybeans up 44; Soymeal down $6.60; Soyoil up 5.70.

Year-To-Date nearby futures are up 15.3% in SRW, up 15.9% in HRW, up 8.4% in HRS; Corn is down 0.9%; Soybeans up 15.2%; Soymeal up 5.8%; Soyoil up 35.9%.

Chinese Ag futures (MAY 26) Soybeans up 37 yuan; Soymeal up 70; Soyoil down 4; Palm oil down 24; Corn up 3 — Malaysian Palm is up 71.

Malaysian palm oil prices overnight were up 71 ringgit (+1.60%) at 4499.

 

There were changes in registrations (200 Soyoil). Registration total: 34 SRW Wheat contracts; 94 Oats; 689 Corn; 523 Soybeans; 1,436 Soyoil; 229 Soymeal; 108 HRW Wheat.

Preliminary changes in futures Open Interest as of March 10 were: SRW Wheat up 228 contracts, HRW Wheat down 86, Corn down 12,010, Soybeans up 2,727, Soymeal up 5,296, Soyoil down 1,073.

 

Model Change (from previous update): Drier in the central/southern U.S.

Significant weather anomalies and crop impact:

• Temperatures through 5 days will be 8-16 °F warmer than normal spanning all major U.S. crop regions, but the 6-10 day forecast will be comparably colder than normal in most areas.
• Uncertainty is high about the 11-15 day period, but regional cold risks are likely to linger at least in some northern areas of the country.
• 15-day precipitation totals will be 25-75 mm (~1-3 in) wetter than normal spanning the Northern Plains and Upper Midwest under an active northern storm track, while areas to the south will be 25-50 mm (~1-2 in) drier than normal.
• A severe weather outbreak will hit the Midwest U.S. today, with tornado, wind and hail threats.
• U.S. cold risks could expand again as late March unfolds due to support from teleconnection indicators such as the MJO and polar vortex signals.
• Dry conditions over the southern U.S. crop regions should facilitate spring crop planting progress, though drought is a concern for early winter wheat development.
• Weather discussion: The Madden-Julian Oscillation (MJO) is likely to develop into a Phase 8 event in late March. This will support the potential for widespread cold risks across the U.S. by that time.

Brazil: Scattered showers have filled back in across the middle of Brazil, being more favorable for newly planted safrinha corn. That should continue for most areas this week, though some in the northeast and far south will not see nearly as much. Soil moisture is still on the low side and there is limited time to stack soil moisture before the wet season rainfall shuts down in the next 6-8 weeks.

Argentina: Spotty showers continue to be possible across Argentina this week, but with very few areas seeing anything of consequence. Spots in the southeast are particularly dry and in need of rainfall. A front is forecast to move through this weekend with more widespread precipitation, but time is running out for rainfall to have a positive impact for filling corn and soybeans.

Northern Plains: The weather pattern will be chaotic through next week, with multiple systems moving through. Some heavy precipitation will be possible, including heavy snow. There are some drier areas that need some precipitation before spring planting commences and will get it, but there are likely areas that will not and we could see drought growing there.

Central/Southern Plains: A stronger system will move through on Tuesday and Wednesday with stronger storms and heavier rain in the southeast. Multiple systems will follow for later this week, weekend, and next week, but will target Nebraska over the rest of the region and even then may not bring much precipitation. Drier areas in the southwest are becoming concerning for winter wheat, particularly in the Texas Panhandle, while drought areas in the southeast got some improvement, creating mixed conditions.

Midwest: The pattern stays very active with a big system for Tuesday and Wednesday that will produce widespread rain and thunderstorms that could be severe. Another system will produce a mix of rain and snow for Thursday and Friday with another this weekend, which may produce some heavy snow across the north. Another disturbance will move through in the middle of next week with a mix of rain and snow as well. Recent and forecast precipitation will help to reduce drought across much of the region.

Delta: Areas of heavy rain over the weekend have eased the drought, but have not eliminated it by any means with large deficits still in place for many areas. Another system will bring widespread showers and thunderstorms to the region through Wednesday. The focus will then shift northward for the weekend and next week, however, giving another unfavorable break in the rainfall.

 

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

TENDERS

• WHEAT PURCHASE: Algeria’s state grains agency OAIC was believed to have bought milling wheat in an international tender that sought limited shipment to two ports only, European traders said. The volume bought was initially unclear although some early estimates were around 200,000 metric tons.
• NO PURCHASE IN WHEAT TENDER: Jordan’s state grain buyer made no purchase in an international tender to buy 120,000 metric tons of milling wheat, European traders said.

 PENDING TENDERS

• WHEAT TENDER: The Taiwan Flour Millers’ Association has issued an international tender to purchase an estimated 105,020 metric tons of grade 1 milling wheat to be sourced from the United States
• WHEAT TENDER: A group of South Korean flour mills has issued an international tender to purchase around 30,000 metric tons of milling wheat to be sourced from the United States only
• 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 submission of price offers is March 11.
• 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 is 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

ETHANOL: US Weekly Production Survey Before EIA Report

Output and stockpile projections for the week ending March 6 are based on five analyst estimates compiled by Bloomberg.

• Production seen higher than last week at 1.108m b/d
• Stockpile avg est. 26.443m bbl vs 26.337m a week ago

 

Russia Resumes Grain Exports to Iran Via Caspian Sea: Reuters

Russian ​companies have resumed grain exports to Iran through the Caspian Sea after a ‌pause caused by the US-Israeli war on Iran, Reuters reports, citing four unidentified sources with knowledge of the situation.

• Russian grain exports destined for Iran from both the ​Black Sea and the Caspian Sea were halted last week, report says
• It is estimated ​that the pause in the Caspian Sea route lasted about two days, one source told Reuters
• Deliveries from Black Sea terminals to the Gulf remain suspended, three sources told Reuters

 

India’s 2025-26 Wheat Output Seen at Record 120.2 Million Tons

Production of wheat, the biggest winter-sown food grain crop, is expected to climb to an all-time high of 120.2 million tons in 2025-26, from about 118 million tons a year earlier, according to the farm ministry’s second advance estimates.

• Winter-sown oilseed output seen at 14.47m tons, the ministry said in a statement on Tuesday
  • Rapeseed production likely at a record high of 13.33m tons
  • Peanut production may total 797,000 tons
• India’s monsoon-sown rice production seen at an all-time of high of 123.9m tons, while the winter-sown crop is estimated at 16.7m tons
• Sugar cane production in 2025-26 forecast at about 500m tons
• Cotton output likely at 29.1 million bales of 170kg each

 

Brazil soy exports seen reaching 16.47 million tns in March – Anec

• BRAZIL SOY EXPORTS SEEN REACHING 16.47 MILLION TNS IN MARCH VERSUS 16.09 MILLION TNS ESTIMATED IN THE PREVIOUS WEEK – ANEC
• BRAZIL SOYMEAL EXPORTS SEEN REACHING 2.82 MILLION TNS IN MARCH VERSUS 2.49 MILLION TNS ESTIMATED IN THE PREVIOUS WEEK – ANEC

 

Brazil’s Wheat Area Seen Down 15.5% In 2026/27 – Safras & Mercado

• BRAZIL’S WHEAT AREA SEEN DOWN 15.5% IN 2026/27 FROM PREVIOUS SEASON TO 1.985 MILLION HA – SAFRAS & MERCADO
• BRAZIL’S 2026/27 WHEAT CROP SEEN AT 6.85 MILLION TNS, DOWN 14.5% FROM PREVIOUS SEASON – SAFRAS & MERCADO

 

Bolivia Blockades Lift After Soy Tariff Decree Pledge: UNITEL

Bolivia’s soybean producers lifted a two-day road blockade on the highway linking the Santa Cruz and Cochabamba departments after the government committed to annul a decree cutting soybean import tariffs, private broadcaster Unitel reported.

• The government agreed to scrap the decree that reduced soybean import tariffs to zero, a measure rejected by local producers

 

Fire breaks out at Cargill soybean processing plant in Wichita, Kansas

A fire broke out at a Cargill soybean processing plant in Wichita, Kansas, late on Monday but the extent of damage to the facility was not immediately known, the company said.

Firefighters were onsite and have been working with Cargill to contain the fire, the company said in an email to Reuters. There were no injuries in the blaze.

Cargill did not provide further details about operations at the plant.

The processing plant, which industry sources said has the capacity to crush about 105,000 bushels of soybeans into meal and oil every day, was not receiving truck deliveries of soybeans on Tuesday, according to a post on Cargill’s website.

 

India, Bangladesh Urea Firms Shut Units as War Cuts LNG Flow

Some urea producers in India and Bangladesh have shut down plants or moved up annual maintenance after Qatari supplies of liquefied natural gas, a key feedstock, were suspended due to the Iran war.

Manufacturers, including top producer Indian Farmers Fertiliser Cooperative Ltd., have either halted some of their facilities or started routine upkeep, according to people familiar with the matter. Restarting a paused plant could take as long as a month, provided LNG supplies resume, they added, asking not to be named because the matter is private.

LNG is the primary feedstock for urea production, serving as an energy source and a key input in making the world’s most widely used fertilizer. Gas supplies to India’s fertilizer industry are currently about 70% of their requirement, the people added.

Any long-drawn halt to LNG supplies could force India — the world’s top importer of urea — to ramp up purchases, pushing up global prices and hampering government efforts to trim its subsidy burden. Fertilizer demand peaks during the monsoon season that begins in June.

Higher farm input costs in the South Asian nation would also have implications for crop prices — and broader inflation — as the country is the world’s biggest grower and exporter of rice and the No. 2 producer of wheat, cotton and sugar.

The government has taken measures to ensure that at least 70% of the average LNG needs of fertilizer makers are met while the Middle East conflict snarls supply, a spokesperson for the fertilizer ministry said. Stockpiles of fertilizer, including urea, were about 18 million tons as of March 10, up almost 37% from a year earlier, ministry data show.

A senior official at fertilizer maker IFFCO didn’t immediately respond to an email sent after office hours.

Thailand, Bangladesh, India and Vietnam are dipping into the spot market to secure near-term LNG supplies, but some tenders for this month — from India’s Gail and GSPC — have gone unawarded, indicating a shortage of immediately available fuel.

Bangladesh Chemical Industries Corporation (BCIC) has shut four of its five urea factories due to gas rationing, according to Mohammad Moniruzzaman, a director at the state-owned company.

India’s fertilizer sector relies heavily on LNG imports, with a significant share sourced from the Middle East, according to the Fertiliser Association of India. The industry is working with the government to prioritize allocations for urea output, the group added.

India’s fertilizer production and imports — including urea, di-ammonium phosphate and potash — rose to 65 million tons in the 10 months ended Jan. 31, up from 57 million tons a year earlier, the industry group said. So far, strong domestic production and timely imports have ensured that supplies will meet farmers’ demand, it added.

 

Brazil’s Petrobras to auction 20 million liters of diesel amid shortage reports, sources say

Brazilian state-run oil company Petrobras PETR3.SA plans to hold an auction to sell 20 million liters of diesel in the southern Rio Grande do Sul state amid reports of shortages, two sources familiar with the issue told Reuters on Tuesday.

The auction will take place on Wednesday, they said.

A spike in diesel prices is emerging as the first and most immediate threat to Brazil’s farm sector from the U.S.-Israeli attacks on Iran, raising costs for producers harvesting a record soybean crop and planting corn they cannot afford to delay.

One of the sources, who spoke on condition of anonymity, said the fuel pickup was scheduled to begin next Monday, adding the initiative was necessary to “try to calm market nerves.”

On Monday, Reuters reported that Petrobras had been refusing to release additional volumes of diesel to distributors after its prices reached a record discount compared with international benchmarks.

Petrobras feared supplying the fuel at a lower price only for distributors to store it and make a profit when the state-run firm raises prices. An auction would create competition and prevent this situation.

“The auction is a way to sell product at higher/different prices,” the source said. “It doesn’t impact all the volume sold, but it partially covers the gap with the international market.”

Petrobras did not immediately reply to a request for comment.

 

Evening hours will help grain market price USDA data, Euronext says

Euronext expects an upcoming evening session for its grain futures to help the market react more smoothly to major end-of-day events like U.S. government crop reports, the exchange’s head of agricultural commodities said on Tuesday.

The late session, to launch on April 13, is part of efforts to expand further Euronext’s wheat-led commodities business.

In an interview with Reuters, Robin Maisonneuve also said:

• Euronext revised the format of the evening session to take account of commercial operators who do not want to trade then. The 8:15 p.m. CET (1915 GMT) close will ensure liquidity by aligning with Chicago hours.
• The later hours should avert a rush to trade on events like U.S. Department of Agriculture reports or import tender results that occur at the end of the European day.
• Euronext will monitor for evening price movements that are erratic or do not reflect fundamentals.
• The exchange is in ongoing dialogue with the market about the Black Sea grain export region but cautious about new products given overlap with its existing contracts.
• Euronext’s planned launch of dairy and container shipping futures this year reflects gaps in the market it thinks it can fill.
• The exchange will keep open its illiquid durum wheat contract 0#EDW:. But the focus is now encouraging industry use of index-linked physical contracts, before actively promoting its futures.
• Options volumes have increased so far this year, helped by a scheme to have on-screen bids, in a push to reverse a fall last year during a low-volatility period.
• The Middle East conflict has led to an uptick in commodity volumes but within usual ranges.

 

 

 

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