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Corn and soybean planting proceeding at a normal pace so far. Going to slow down in Illinois this week after today.

Biggest surprise on today's #WASDE was the 6.16 MMT jump in world #wheat ending stocks, driven primarily by a 4.81 MMT cut in India's total domestic demand. This slowdown in implied consumption follows their longer-term trend of a heavier shift towards #rice vs. #wheat, as shown below. #oatt #oott

Much larger-than-expected global wheat stocks from USDA this month, mostly based on larger supplies in India per its own govt stock report. Chinese soybean demand was unchanged. Corn supplies were a bit larger than expected.

#India is back with a massive #urea tender - 2.5 mmt. The last one (Feb, 1.3 mmt) is still unresolved. A big chunk of cargo remains stuck near Hormuz. Supply is tight. Logistics are messy. Does this push fertilizer prices higher again? #oatt #sizovreport #fertilizer #commodities #iranwar

“It’s a trying time. In 24 years (in fertilizer) I’ve never seen it like this. I hope I never see it again.” - @JLinvilleFert Full interview on today’s episode of the Future of Agriculture podcast futureofagriculture.com/episode/where-…

🚨The Trump Administration never wants to see another farmer or trucker experience the costly pain and aggravation that comes with a faulty DEF system, which is why President Trump just announced that the EPA is ENDING the requirement for DEF sensors on diesel vehicles and equipment. epa.gov/newsreleases/t…

📉CBOT May soybeans have plunged the daily 70-cent trading limit after weekend U.S.-China talks - touted as successful - were viewed unfavorably (possible Trump-Xi meeting delay, mention of non-soybean row crop purchases). CBOT May bean oil was also limit down.

Donald Trump said he could delay his planned summit with Chinese President Xi Jinping if Beijing doesn’t help unblock the Strait of Hormuz, the Financial Times reported, citing an interview with the US president bloomberg.com/news/articles/…

🇨🇦Canadian farmers in 2026 intend to plant 1% less wheat than in 2025 but 1% more canola. The wheat area beat expectations and the canola area fell short, but the survey was taken between mid-December and mid-January. A lot has happened since then, so how might plans change?

🇨🇦Analysts see Canada's 2026 all wheat planted area falling 0.6 million acres on the year, but canola plantings are predicted to rise 0.7 million acres. Statistics Canada is scheduled to publish farmers' 2026 planting intentions on Thursday morning.

This would be the highest canola planted area in 8 years - makes sense as China & Canada sorted their canola tariff issues just a few days ago. The survey, however, was taken before all of this came to the surface. Later surveys should be more telling.

Seems important reuters.com/world/asia-pac…

Global Pea Production: Major Producers

Balance Changes (bushels): 🌽 Exports +100M Ending Stocks -100M 🌱 No Changes. 🌾 Food -5M Total Use -5M Ending Stocks +5M

#Soybeans gap higher after President Trump posts that he just concluded a phone conversation with China's President Xi, and that he is asking that his "friend" increase #soybean purchases in current year to 20 mmt. #oatt

This Trump post moved soybeans into the green for the session.

.@MarkJCarney

🔹TRUMP ADMINISTRATION EXPECTED TO FINALIZE 2026 BIOFUEL BLENDING QUOTAS BY EARLY MARCH 🔹TRUMP ADMINISTRATION WEIGHING RANGE OF 5.2 TO 5.6 BILLION GALLONS FOR BIO-BASED DIESEL VOLUMES, VERSUS A PROPOSED 5.6 BILLION GALLONS 🔹TRUMP ADMINISTRATION EXPECTED TO KEEP BIOFUEL BLENDING QUOTAS ROUGHLY IN LINE WITH CURRENT PROPOSAL 🔹TRUMP ADMINISTRATION EXPECTED TO DROP PLAN TO PENALIZE IMPORTS OF RENEWABLE FUELS AND RENEWABLE FUEL FEEDSTOCKS

U.S. corn harvested area was raised significantly from September, pushing production over 17 billion bushels. That's up 4.5 million acres since the June acreage survey, which is completely unprecedented.

🥊 You know what farmers dislike? 🧑‍🌾 When futures rally but yet offers remain the same (and you can't use the CAD as an excuse today either)...🌾 wheat I'm talking about you.