A heavier-than-expected USDA supply update drove midday losses as markets digested larger U.S. production and stocks despite fresh Chinese soybean purchases.
Escalating attacks on Ukrainian ports and logistics were the week’s most market-defining factor, trimming shipments and underpinning wheat and corn premiums.
Weak USDA weekly sales prints cooled the post-holiday demand story, even as Brazil export headlines stayed “big” and South America weather turned more supportive for Argentina.
Brazil still exports “big,” but U.S. sales to China are back in the mix—while Argentina rainfall and veg-oil policy headlines keep the grain complex headline-sensitive
A renewed China demand pulse and firmer wheat-condition optics kept the complex supported, even as ethanol stocks built and veg-oil signals stayed mixed
Fresh China soybean purchases and firmer veg oils support the complex, while U.S. winter-wheat condition erosion and uneven South America moisture keep volatility bid
A softer close across wheat, corn, and soybeans showed how quickly the market can give back intraday strength when export flow is uneven, veg-oil tone turns heavy, and South America headlines pull in opposite directions
