Corn, Soybeans rise on strong global demand

Global grain markets showed mixed performance, with soybean and wheat prices rising while corn remained stable, amid a combination of profit-taking activity and shifting expectations for global agricultural demand.

Soybeans rebound after profit-taking

Soybean futures traded on the Chicago Board of Trade rebounded after profit-taking in the previous session, remaining near their highest level in more than three months and on track for a second consecutive monthly gain.

The most actively traded soybean contract rose 0.15% to $11.65 1/4 per bushel, bringing total gains in February so far to around 9.5%. Support has come partly from expectations of stronger global demand and shifts in international agricultural trade patterns.

Wheat continues higher while corn holds steady

Wheat futures gained 0.39% to $5.76 3/4 per bushel, marking a monthly increase of roughly 7.2%. Corn futures were unchanged at $4.43 1/2 per bushel, though they have risen about 3.62% during February.

Impact of trade policy and biofuels

Sources indicated that the administration of US President Donald Trump is preparing a plan requiring major oil refineries to compensate for at least half of the biofuel volumes previously exempted under the small refinery waiver program. This could support demand for crops used in biofuel production, including corn and soybeans.

Global trade and agricultural production developments

Brazil is expected to increase soybean exports to China in 2026, benefiting from weaker Argentine supply despite growing competition from US farmers, according to analysts at Hedgepoint Global Markets.

Meanwhile, wheat prices on the Euronext exchange rose, supported by import demand and a weaker euro, which improves the competitiveness of European grain in global markets.

Weather and global grain demand

In Saudi Arabia, the General Food Security Authority issued a tender to purchase 655,000 metric tons of wheat. Forecasts also suggest India could experience one of its hottest March months on record, potentially affecting wheat and rapeseed production in key agricultural areas.

In Ukraine, grain shipments to Black Sea ports increased by 2% in February compared with January, though they remain below levels recorded last year.

US grain trade

The US Department of Agriculture confirmed private export sales totaling 178,000 tons of corn to Japan, with 154,000 tons scheduled for shipment during the 2026/2027 marketing year and 24,000 tons during the 2027/2028 season.

Outlook

Grain markets are expected to remain influenced by global demand trends, trade policies, and weather conditions, particularly as volatility persists in energy markets and international trade flows.