Exports Steady For Key Crops As Trade, Tariff Disputes Continue

 

 

Corn exports, for example, are up 3 percent over the previous marketing year. (The marketing year USDA uses for corn and soybeans runs from September 1 to August 31.) Soybean exports are down 3 percent, but Gregg Doud, the top agriculture negotiator in the Office of the U.S. Trade Representative, considers that to be an encouraging sign given the turmoil caused by tariffs lobbed back and forth between the U.S. and China — the largest buyer of U.S. soybeans.

 

“What we’re seeing in these markets right now is that corn, soybeans, beef, pork — they’ve been really, really solid,” Doud said after meeting with leaders of Nebraska agriculture groups in Omaha on Monday.

 

Soybean exports to China are down 23 percent, but the overall decline in exports was small thanks to larger shipments to countries like Vietnam, Pakistan and Egypt, which has nearly tripled its soybean imports from the U.S. this year.

 

Farm groups continue to push for a speedy resolution with China and for completion of NAFTA negotiations with Canada and Mexico.

Video: USDA Feb Crop Report a WIN for Soybeans + 1 Year Trade Truce Extension

USDA took Trumps comments that China would buy more U.S. soybeans seriously and headline news that the U.S./China trade truce would be extended when Trump/Xi meet in the first week of April was a BIG WIN for soybeans this week! 2026 “Mini” U.S. ethanol boom thanks to 45Z + China’s ban of phosphates from Feb. – August of 2026 will not help lower fertilizer prices anytime soon! 30 mmt of Chinese corn harvest is of poor quality and maybe a technical breakout in wheat futures.

*Apologies! Where we talk about the latest CFTC update as of 10th Feb 2026, managed money funds covered their net short position in canola to the tune of +42,746 week-on-week to flip to net long 145 contracts and not (as we mistakenly said) +90,009 wk/wk to 47,408.