Grain Market Commentary 2/12/26
Corn finished modestly higher, following strength in soybeans and drawing support from solid export sales. The Mar26 contract gained 3.75 cents to close at $4.3125. May26 and Jul26 futures each added 5 cents, settling at $4.4175 and $4.4975, respectively.
Soybeans moved higher on optimism surrounding a possible extension of the US-China trade truce. The Mar26 contract rose 12.5 cents to $11.3725. May26 futures gained 11.75 cents to close at $11.5225. Nov26 futures advanced 5.75 cents, finishing at $11.1625.
Market Headlines:
China confirmed talks about Trumps visit in April and a possible trade truce:
Chinese state media reported that President Trump and President Xi continued discussions regarding Trump’s planned visit to China in April. Sources indicate the two sides may extend the current trade truce by up to one year. An extension could support continued Chinese purchases of US soybeans.
Following the report, soybean futures rallied overnight, with the March contract reaching $11.41 — its highest level since December 25.
USDA Secretary states farmers and ranchers are the key to the new Dietary Guidelines for Americans:
USDA Secretary Brooke Rollins spoke Wednesday at an event marking the implementation of the updated Dietary Guidelines for Americans. Rollins stated that “the new guidelines encourage households, schools, and the military [to] prioritize whole, nutrient-dense foods”. She added that farmers and ranchers who produce these foods play a central role in addressing national health challenges.
USDA Export Sales:
(week ended 2.5.26)
US corn export sales totaled 81.48 million bushels, exceeding market expectations of 23.62–59.05 million bushels. Sales doubled the previous week’s total of 40.99 million bushels and surpassed the same week last year’s 64.9 million bushels. The four-week average stands 6% above the same period last year. Total commitments have reached 2.394 billion bushels, up 31% year over year. Japan, South Korea, Colombia, Mexico, and Taiwan accounted for the largest increases.
US soybean export sales totaled 10.35 million bushels, below market expectations of 11.02–40.42 million bushels and marking a marketing year low. Sales declined 35.7% from the previous week’s 16.1 million bushels and fell 80% below the prior four-week average. Total commitments stand at 1.27 billion bushels, down from 1.58 billion bushels at this point last year. China, Egypt, the Netherlands, Japan, and Malaysia led this week’s increases.
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