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Grain Market Commentary 2/27/26

Morgan Knilans
Daily Grain Commentary
Feb 27, 2026

CBOT:

Corn closed 2-5 cents higher today, finding support from wheat and energy markets, along with continued strong export demand. The May26 contract touched $4.50 for the first time since the January USDA reports before closing 5.0 cents higher at $4.485, up 8.75 cents on the week. Jul26 futures gained 4.75 cents to settle at $4.56, while Sep26 futures ended the day 3.0 cents higher at $4.5575.

Soybeans added 0-7 cents on the session, with nearby contracts outperforming the deferred months. The May26 contract gained 7.25 cents to close at $11.7075, finishing the week 17.5 cents higher. Jul26 futures rose 6.5 cents to $11.8275. The Nov26 contract added just ¾ of a cent to close at $11.2825 but still posted a 13.25-cent gain on the week.

Market Headlines:

US Secretary of Agriculture Brooke Rollins announced the “One Farmer, One File” modernization:

US Secretary of Agriculture Brooke Rollins announced the “One Farmer, One File” modernization initiative while speaking at the Commodity Classic Convention in San Antonio. Rollins said the effort aims to modernize outdated and duplicative systems to improve customer service, allowing farmers to focus on farming and feeding the US and global markets.

The initiative would create a single, streamlined record that follows each farmer throughout the USDA system. USDA intends for the change to reduce administrative burdens for farmers, improve program delivery efficiency, save time for agency staff, and lower government spending. The plan also supports a broader effort to unify the Farm Service Agency (FSA), Natural Resources Conservation Service (NRCS), and Risk Management Agency (RMA) systems and eliminate agency silos.

President Trump expresses frustration over Iran negotiations:

Today, President Trump said he was disappointed with the progress of negotiations with Iran and reiterated his desire to reach a deal. He stated that Iran remains unwilling to forswear nuclear weapons, a key demand of the United States. When asked about the potential use of force, the President responded, “I’d love not to use it, but sometimes you have to.”

His comments come one day after talks between US envoys Steve Witkoff and Jared Kushner and Iranian officials concluded without an agreement. President Trump added that discussions with Iran will continue.

Weekly US Drought Monitor:

In the West, 4-to-8-foot snowfall totals in the Sierra Nevada have disrupted travel through mountain passes and created dangerous avalanche conditions. Meanwhile, several days of above-average temperatures and strong winds across portions of the central and southern High Plains have fueled multiple wildfires. The largest, the Ranger Road Fire, has burned more than 280,000 acres across northwestern Oklahoma and southeastern Kansas. In contrast, multiple storm systems have moved across the eastern United States, and a late-winter blizzard impacted the middle and northern Atlantic Coast. The storm dropped more than one foot of snow in several major East Coast cities. Illinois and Indiana also experienced an early-season severe weather outbreak, with nearly a dozen tornadoes reported.

In the Midwest, drought conditions improved around the Great Lakes, while extreme drought persists from southern Missouri to northwestern Ohio. Across the High Plains, drought conditions continue to ease gradually, with North Dakota remaining free of drought.

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