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Latest market news

US crop conditions hold steady into August

  • Market: Agriculture
  • 17/08/26

US corn, soybean and spring wheat crop conditions were all within 1 percentage point of their previous week's good-to-excellent rating as of 16 August, as the last phases of US crop development have begun in most areas.

The US average corn and soybean condition ratings both crops fell by 1 point during the week to 60pc and 61pc in good-to-excellent conditions, respectively, as of 16 August, according to US Department of Agriculture (USDA) data. With this week's drop, both crops are now below their five-year average ratings, but by only 2 points and 1 point, respectively.

Since the middle of July, the outlook for both corn and soybeans has trended lower following weeks of above ideal temperatures for crop development, resulting in the USDA revising its yield expectations lower in the agency's outlook update last week. But the week ahead is expected to bring cooler temperatures, and additional precipitation that could be beneficial for corn and soybeans as they enter their grain filling and pod development phases.

The US spring wheat crop saw a small improvement in its outlook, with the share of the crop rated as good-to-excellent increasing 1 percentage point from the prior week to 52pc. The increase was driven by improvements in Idaho and Minnesota, where the share of the crop rated in good-to-excellent condition increased by 7 points and 3 points, respectively, from the prior week. Also during the week, the outlook for the crops in North Dakota and South Dakota stabilized after several weeks of decline, holding even with the week prior at 44pc and 42pc in good-to-excellent condition, respectively.

All three crops continued progressing at an above average pace, with the spring wheat harvest progressing 17 points during the week to reach 41pc complete, 7 points ahead of the five-year average pace for the week.

The US corn crop development advanced by 15 points to reach 76pc in the dough stage, 6 points ahead of the five-year average rate of development. Soybeans advanced by 11 points to reach 85pc in the pod setting phase, 5 points ahead of the five-year average pace of development.

By Ryan Koory

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17/08/26

Mato Grosso ups its 2026-27 crops cost estimates

Mato Grosso ups its 2026-27 crops cost estimates

Sao Paulo, 17 August (Argus) — Brazil's central-western Mato Grosso state revised its production cost forecasts for the 2026-27 corn, soybean and cotton crops slightly upwards in its July report, driven by higher fertilizers expenses. The 2026-27 corn crops that use advanced technologies in Mato Grosso could cost about R3,779/hectare ($729/ha) to be produced, a 0.3pc increase from June's forecast, according to the state's institute of agricultural economics Imea. That is above the R3,320/ha spent in the 2025-26 season, considering higher fertilizer, pesticides and seeds costs. Estimated fertilizer costs rose by 1.1pc to R1,550/ha in Imea's monthly report. That is also above the R1,422/ha spent last crop. Expected pesticide and seeds costs dipped by 0.1pc and 0.5pc in the month, reaching R912/ha and R844/ha, respectively. The forecasts remain above R738/ha for pesticides and R778/ha for seeds spent in the 2025-26 season. Soybeans Estimated costs for the 2026-27 soybean crop ticked up by 0.04pc to R4,323/ha in July from R4,321/ha projected a month prior. That is above the R4,181/ha spent in the 2025-26 season, mostly because of higher expected fertilizer costs. Projected fertilizers expenses increased by 0.2pc to R1,993/ha in the month. The forecast is above the R1,881/ha for the 2025-26 season. Estimated seed costs fell by 0.2pc from the previous report, reaching R474/ha in July. The expense remains below the R607/ha from the last cycle. Imea slightly lowered its projections for pesticide costs by 0.1pc to nearly R1,347/ha in the month from the previous report. Pesticide costs reached R1,218/ha in the prior cycle. Cotton Production costs for Mato Grosso's 2026-27 cotton crop may reach R10,629/ha, a 0.1pc increase from the previous report, but still below the R10,776/ha in the previous cycle. Fertilizer and pesticides costs drove the monthly expected increase, up by 0.1pc and nearly 0.2pc to R3,977/ha and R4,569/ha, respectively, in the latest estimates. The forecast is still higher than the R3,891/ha fertilizers costs in the previous cycle. Pesticides estimates are below the R 4,670/ha spent in the 2025-26 season. Seed cost projections slightly fell by 0.03pc, reaching R1,069/ha in July, but still above the R1,045/ha in the 2025-26 season. Crop costs in July were calculated based on an average Brazilian real-US dollar exchange rate of R5.1223/$1 for corn, R5.1604/$1 for soybeans and R5.1559/$1 for cotton. By Sofia Zizza Send comments and request more information at feedback@argusmedia.com Copyright © 2026. Argus Media group . All rights reserved.

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Corn, soymeal to dominate Argentina’s Sep exports

14/08/26
News
14/08/26

Corn, soymeal to dominate Argentina’s Sep exports

St Louis, 14 August (Argus) — Argentina's exporters reported 3.62mn metric tonnes (t) of agricultural sales to foreign buyers during the week ended on 14 August, the most for the week in seven years, with more than 1.3mn t registered for corn and soybean meal each, according to the Secretariat of Agriculture, Livestock and Fisheries (SAGyP). September was the primary month for export sale registrations, with 3.15mn t reported for loading by the end of the month. Corn accounted for the largest share of this volume at 1.43mn t, followed by soybean meal at 966,000t. With the most recent week, September corn export registrations eclipsed last year's volume nearly seven-fold at 4.6mn t. And with two weeks of August, remaining more volume is likely to be registered before the start of the next month, which could push September exports this year to a record level. Total soybean meal registrations also pushed above last year's level for the month, more than doubling September 2025 to reach 2.15mn t at the end of the week. And increased sales of soybean meal were reported for October and November loading as well, with 350,000t registered for loading across the two months compared with zero volume reported last year. Sunflower meal export registrations were also active during the week, with 54,000t registered for loading by the end of September, bringing total volumes for the month to 189,000t, up by 29pc from the volume registered for September 2025. Wheat exporters registered 322,000t of sales for loading by the end of September, and 90,000t for October. Barley and sorghum export sales reached 60,000t and 40,000t, respectively, with both falling below 10,000t last year. Registered foreign sales of soybeans were less active during the week, down by 34pc from the same week last year to 149,000t. Sunflower seed export registrations fell to their lowest point since the start of 2026 with only 8,000t registered during the week. By Ryan Koory Argentina soymeal export registrations through 14 Aug mn t Argentina corn export registrations through 14 Aug mn t Send comments and request more information at feedback@argusmedia.com Copyright © 2026. Argus Media group . All rights reserved.

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Brazil’s inflation slows to 4.44pc in July

11/08/26
News
11/08/26

Brazil’s inflation slows to 4.44pc in July

Sao Paulo, 11 August (Argus) — Brazil's inflation slowed to an annual 4.44pc in July, with lower housing costs helping to offset higher electricity bills. The consumer price index IPCA decelerated from 4.64pc in June and 4.72pc in May, national statistics agency IBGE said on Tuesday. The latest decline puts inflation within the central bank's target range of 1.50-4.50pc. Food and beverage costs, which weigh heavily on the index, contributed the most to the monthly deceleration in the IPCA, decelerating to an annual 3.4pc in July from 3.82pc in June. Lower prices for coffee, fruits and vegetables largely drove the declines, IBGE said. Housing costs was the largest monthly contributors to the gain in the index in July, with its inflation accelerating to an annual 5.93pc from 5.85pc a month earlier, mostly thanks to electricity bills and tax readjustments for power supply in some southern states. Transport costs slowed to an annual 3.64pc in July from 3.95pc in June. Lower prices for ethanol, diesel, gasoline and compressed natural gas weighed on motor fuel costs, despite an increase in airfares The annual gain for July was down from 5.23pc in July 2025 . The central bank expects inflation to end 2026 at 5.03pc, above its 1.5-4.5pc expected range. It also expects inflation at 4.22pc for 2027 and 3.8pc for 2028. Brazil's central bank lowered its target rate to 14pc in its latest meeting , held last month, a fourth such quarter point cut since March after holding it at 15pc since mid-2025 to stem inflation. By Mariana Funchal Send comments and request more information at feedback@argusmedia.com Copyright © 2026. Argus Media group . All rights reserved.

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Northern US drought cuts into crop outlook

10/08/26
News
10/08/26

Northern US drought cuts into crop outlook

St Louis, 10 August (Argus) — Crop conditions across corn, soybeans and wheat all fell during the week in the northern portion of the US Corn Belt as drought conditions intensified, according to US Department of Agriculture (USDA) data. The crop rating for corn fell from the Dakota's through Michigan during the week, and south into Iowa for the first time this season. In Iowa, 78pc of the crop was rated in good-to-excellent condition as of 9 August, falling by two percentage points from the prior week, and eight points below the previous year. In Wisconsin and North Dakota, the share of the crop in good-to-excellent condition fell by 10 points from the prior week. Both states have declined significantly since the middle of July, falling in Wisconsin from 83pc in good-to-excellent condition as of 12 July to 69pc as of 9 August. And the North Dakota corn crop fell from 71pc to 27pc in good-to-excellent condition during the same period. The soybean crop rating in North Dakota fell by 13 points during the week to 31pc in good-to-excellent condition. The outlook for the soybean crop was reduced further south in the US as well, with both Iowa and Missouri falling from the previous week by one and two points, respectively. The spring wheat crop outlook was reduced in Montana, as well as the Dakota's and Minnesota. While both North Dakota and South Dakota continued to pull below both last year's level — and the five-year-average ratings for the two states — the spring wheat outlook for both Montana and Minnesota remained positive, despite the drop. North Dakota was reported at 44pc in good-to-excellent condition, 11 points below the five-year average for the state. South Dakota was rated at 41pc, two points below the five-year average. Minnesota's spring wheat crop was reported at 88pc in good-to-excellent condition, 25 points above the five-year average, while Montana was 50pc in good-to-excellent condition, ahead of its five-year average by 22 points. Nationally the corn crop remained at 61pc in good-to-excellent condition, as slight improvements across the central Corn Belt, offset the declining quality of the northern portion crop. Soybeans fell by one point from the prior week to 6pc and spring wheat fell by four points to reach 51pc in good-to-excellent conditions. With the first week of August, both the corn and soybean crops have mostly moved past their pollination phases, with corn silking 94pc complete, and soybean blooming 93pc complete. Corn's grain filling phase was progressing slightly ahead of normal, with 61pc of the crop in the dough stage, six points ahead of the five-year average. Similarly, 74pc of the soybean crop was in the pod setting phase, five points ahead of the five-year average. The spring wheat crop has also developed more quickly this year, with 24pc of the crop harvested as of 9 August, five points ahead of the five-year average pace. By Ryan Koory Send comments and request more information at feedback@argusmedia.com Copyright © 2026. Argus Media group . All rights reserved.

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US extends but narrows Jones Act waiver

10/08/26
News
10/08/26

US extends but narrows Jones Act waiver

New York, 10 August (Argus) — President Donald Trump's administration said it will continue to waive domestic shipping requirements under the Jones Act for another 90 days, albeit with stronger oversight than the previous waiver. The waiver, first enacted 17 March, will now require the Department of Defense to consult with the US Maritime Administration (MARAD) on the availability of Jones Act vessels prior to an individual shipping voyage before determining whether the waiver can be applied, a White House official told Argus . This marks a shift from the waiver's current iteration, valid through 16 August, that relies on the vessel operator or charterer documenting their reasoning. As of 7 August, MARAD data show that around half of the reasons given for the 212 documented Jones Act waiver voyages simply cite the shipment's coverage under the waiver, while only 19 entries mention Jones Act vessels not being available. The new waiver still covers most products that were covered previously, such as diesel, gasoline, crude, soybean oil and fertilizers, but coal and coal-derived products are no longer allowed, according to the official. US-based shipping groups expressed strong opposition to a waiver extension, particularly under the existing blanket waiver authority used since March. "The government can respond to a genuine emergency without turning an exceptional waiver into a standing invitation for foreign operators to enter routine domestic commerce," former US federal maritime commissioner William Doyle said in an op-ed in the Washington Examiner on 10 August. The Trump administration issued the waiver of the Jones Act — which allowed foreign flagged and owned vessels to carry US-to-US shipments in place of US-flagged, US-owned and US-crewed vessels — on 17 March on national security grounds under section 501a and later extended it by 90 days. But some of the voyages conducted under the waiver have been criticized by the domestic maritime industry as not serving any national security purpose . The waiver was issued to ensure US airfields and military installations are properly supplied with fuel, but has otherwise been highly popular with US refiners. Republican lawmakers urged Trump in July to restore the Jones Act, calling the waiver "a loophole exploited by adversarial countries to erode America's maritime dominance". By Charlotte Bawol Send comments and request more information at feedback@argusmedia.com Copyright © 2026. Argus Media group . All rights reserved.

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