Overview
- Corn futures eased 1–2 cents despite support from 1.14 MMT in weekly export sales and record ethanol output of 1.196 million barrels per day, with private sales also reported to unknown buyers and Japan.
- Soybeans rose 8–10 cents after USDA logged 2.06 MMT in weekly sales, additional daily deals to unknown and China, and NOPA reported a 224.991 million bushel December crush; Reuters reported the EPA is expected to finalize 2026 RVOs by early March.
- Brazil’s CONAB held 2025/26 corn at 138.87 MMT and pegged soybeans at 176.12 MMT, while AgroConsult lifted its soybean estimate to 182.2 MMT, adding mixed South American supply signals to the market.
- Wheat fell 2–5 cents at the close as weekly U.S. sales totaled 156,255 MT, even as Saudi Arabia tendered for 595,000 MT and an importer in South Korea bought 50,000 MT of U.S. wheat.
- Lean hogs surged $1.90–$2.30 with pork cutout values up to $93.60 per cwt and export bookings at 26,826 MT, while live cattle regained $0.90–$1.60 as boxed beef strengthened and cash trade remained light.