Agricultural commodity market analysis & forecast
Spotlight content
From Brazil to the world: Corn market insights
Europe's feedstock crunch as renewable fuel demand rises
2026 Commodity Outlook: Disruption, Opportunity, and Risk
Related news
House ag committee backs organic oversight change
House ag committee backs organic oversight change
Minneapolis, 5 March (Argus) — The US House Committee on Agriculture approved an amendment to the draft of the farm bill that aims to reduce the regulatory burden for smaller domestic organic operations. The Risk-Based Oversight for Integrity Act was amended into the US house farm bill draft by a voice vote late Wednesday after being introduced by Representative Tony Wied (R-Wisconsin). The vote came as part of a broader markup by the committee on the Farm, Food, and National Security Act of 2026, better known as the farm bill, which was introduced last month . The amendment instructs the US Department of Agriculture (USDA) to focus organic oversight on high-risk operations and reduce the burden on "low-risk domestic operations", Wied said. "Right now, the USDA applies the same uniform oversight requirements to every certified organic operation, regardless of whether the operation poses any real risk to organic integrity," Wied said while introducing the amendment. "When compliance costs are equally burdensome for all operations, regardless of risk level, it's American farmers who pay the price." Current organic regulations require annual on-site inspections for all certified organic operations, regardless of their past compliance history. This act would reduce on-site inspections to as few as once every three years for US-based operations with a documented record of compliance. These operations would still require annual virtual inspections. Certifiers will continue to inspect all foreign certified organic operations on-site each year. The bill would require the USDA to complete a 12-month study on the feasibility and impacts of risk-based oversight. The USDA would consider input from organic farmers, processors, certifiers, consumers, and the National Organic Standard Board. Risk-based oversight "is a regulatory approach that prioritizes the allocation of resources and oversight activities based on the level of risk associated with different organic operations," said Gwendolyn Wyard, founding partner at organic consultancy Strengthening Organic Systems. The Risk-Based Oversight for Integrity Act may also be introduced into the US House as a standalone bill in the future, market contacts said. The Farm, Food, and National Security Act of 2026 passed the committee by a 34-17 vote. The bill will proceed to the house floor for a vote or further amendments. Other organic discussion The committee also approved funding for grants related to organic transition and discussed potential further support for the organic sector. The committee approved an amendment providing $7.5mn for education, extension, and research grants to support the transition from non-organic to organic production systems through the Transition to Organic Partnership Program. The funding is meant to boost organic supplies and reduce the cost of organic food for consumers by supporting farmers through organic transition. Strong organic supplies and the cheaper organic food will help "the American people to be healthier, and for American agriculture to be more environmentally friendly." said Eugene Vindman (D-Oregon) who introduced the amendment. The draft farm bill does not include the Domestic Organic Investment Act . The exclusion of the act — which would fund grants supporting improvements to organic storage, processing, and distribution — "comes up short" said Andrea Salinas (D-Oregon). But this act may be added to the farm bill later. By Alexander Schultz Send comments and request more information at feedback@argusmedia.com Copyright © 2026. Argus Media group . All rights reserved.
Brazil’s Jan PPI contracts on fuels, food
Brazil’s Jan PPI contracts on fuels, food
Sao Paulo, 4 March (Argus) — Prices paid to Brazilian producers fell by 4.33pc in January from a year earlier, mostly pushed down by the food sector and fuels, according to government statistics agency IBGE. The decline in the producer price index (PPI) slowed from a 4.51pc contraction in December but quickened from 3.36pc in November and smaller contractions the prior two months. The disinflation in PPI suggests that consumer price inflation, which accelerated to 4.44pc in January from 4.26pc in December, may soon be easing. The food sector, which accounted for more than half of the total PPI index result, fell by 9.84pc in January from a year earlier, after a 10.48pc annual loss in December, extending a negative streak begun in September, IBGE said. Sugar products and pork were among the main negative drivers, while falling sugar prices were mainly affected by a weakening dollar to the Brazilian real over the last year. IBGE's research manager Murilo Alvim said. As for crude and biofuels, producer prices for the sector fell by 7.64pc in the last 12-months, following a 5.64pc annual loss in December and marking an eight-month low, IBGE data show. Metallurgy producer prices fell by 4.91pc in January from a year earlier, following an 8.06pc annual loss in December. The index ticked up by 0.3pc from December. Brazil's PPI posted 10 consecutive monthly declines from February-November 2025, IBGE said. Copper and gold contributed the most to inflationary pressures within metallurgy in the monthly comparison, adding up to its 2.73pc. As for chemicals, sulfur-based fertilizers and other imported feedstocks raised producer prices to a 1.7pc gain from December, Alvim said. PPI measures average prices offered by suppliers to domestic producers of goods and services without considering taxes and freight costs. By João Curi Send comments and request more information at feedback@argusmedia.com Copyright © 2026. Argus Media group . All rights reserved.
US ag groups eye biofuels, exports to drive demand
US ag groups eye biofuels, exports to drive demand
Houston, 3 March (Argus) — US agricultural trade groups are focused on evolving domestic biofuels policy and diversifying export markets as key drivers for soybean and corn demand in the coming year. Finalizing biofuel blending quotas under the Renewable Fuel Standard was highlighted as a top priority by American Soybean Association (ASA) president Scott Metzger during the Commodity Classic conference in San Antonio, Texas, last week. "Soybean farmers urgently need biofuel policies finalized to boost domestic demand for soybeans and soybean oil," Metzger said in a press conference on 25 February. "ASA continues, urging [the] administration to focus on finalizing priorities that create preference for soy-based biofuel feedstocks and reduce reliance on foreign feedstocks that distort markets and harm US farmers." Metzger later added that he is hopeful the biomass-based diesel portion of the blending quota falls between 5.2bn and 5.6bn USG for 2026. The Environmental Protection Agency (EPA) reaffirmed yesterday that it expects to finalize quotas by the end of March, which were projected at 5.61bn USG for 2026 and 5.86bn USG for 2027 in the EPA's initial proposal last June. Corn and sorghum trade group leaders also made calls for more clarity on biofuel incentives. National Corn Growers' Association president Jed Bower and National Sorghum Producers' chair Amy France both advocated for legislation that allows year-round sales of 15pc ethanol gasoline (E15), typically restricted in the summer months because of smog rules without emergency regulatory waivers. A council of lawmakers in the US House of Representatives has struggled to come to an agreement on E15 legislation, pressured in part by oil refiners that opposed earlier bill drafts for limiting the exemptions they can win from costly federal biofuel blend mandates. ASA vice president Dave Walton also expressed support for year-round E15, but pointed to the complex politics of any E15 bill by saying that any proposal should not come at the cost of reduced demand for biomass-based diesel. More ethanol consumption in the US could reduce demand for other biofuels that count toward annual blend requirements. "Some of the proposals that are out there on the table now are a plus for E15, but there's a potential negative in there for biodiesel," Walton said. Exports need more opportunities In addition to discussions on US biofuel policies, continued growth of soybean exports to new and existing markets was emphasized as a second facet of soybean demand in the year ahead. "Being able to work on new and emerging markets — we had a trade deal that was done with Indonesia," Metzger said. "We want to continue that and try to open up new markets as well." The trade deal with Indonesia — finalized last month — includes an agreement to import at least 3.5mn metric tonnes (t) per year of soybeans and 3.8mn t/yr of soybean meal from the US for five years. There is optimism that other countries can absorb some soybean demand should China not increase its purchases for 2025-26 to 20mn t , US Soy Export Council (USSEC) CEO Jim Sutter said. Pakistan in particular is viewed as a growing destination for US soybeans. So far this year, Pakistan has purchased 1.09mn t of US soybeans, according to US Department of Agriculture data, the most since the country imported 1.54mn t during the 2017-2018 marketing year and well ahead of the average 413,000t per year over the last five years. Globally, US soybean export sales to countries other than China are about 1.5mn t ahead of year-prior levels as of the week ended 19 February. The ASA also supports the renewal of the US-Mexico-Canada (USMCA) trade agreement later this year, Metzger said. Mexico is the second-largest buyer of US soybeans, making the preservation of free trade between the US and Mexico a key factor for US exports. The competitiveness of US soybeans in export markets could be adversely impacted by increased domestic demand and a subsequent rally in prices. Without an increase in supply, there is some concern that more soybeans could be used for domestic crush and tighten export opportunities, Sutter said. But US soybean supplies could get a boost in the coming year, as soybean acres are expected to rise for the upcoming crop. Larger domestic production would leave ample soybeans for both domestic use and exports, particularly as China is expected to increase soybean purchasing to 25mn t for 2026-27 . By Joseph Crosby Send comments and request more information at feedback@argusmedia.com Copyright © 2026. Argus Media group . All rights reserved.
Brazil’s economic growth steady at 1.8pc in 4Q
Brazil’s economic growth steady at 1.8pc in 4Q
Sao Paulo, 3 March (Argus) — Brazil's economic growth held steady at a 1.8pc annual pace in the fourth quarter of 2025, as growth in agriculture and services was partly offset by slowing industrial activity, according to government statistics agency IBGE. Growth in gross domestic product (GDP) held unchanged in the latest quarter from 1.8pc in the third quarter of 2024, in line with analysts' estimates in a Trading Economics survey. That followed 2.4pc growth in the second quarter. For full-year 2025, GDP growth slowed to 2.3pc from 3.4pc in 2024 and 3.2pc in 2023, IBGE data show. Brazil's central bank has kept its target interest rate stable at 15pc since June 2025 . The agriculture sector accelerated to 12.1pc growth in the fourth quarter from 10.1pc in the third quarter, following positive annual contributions from orange, wheat and tobacco throughout 2025, IBGE said. As for the industrial sector, output eased to 0.6pc growth after a 1.7pc gain in the third quarter, mostly pushed down by construction despite gains in extractive, electricity, gas and waste management. Spending on services rose by an annual 2pc in the quarter, up from 1.2pc in the third quarter. Household spending accelerated to a 1pc annual pace in the fourth quarter, up from 0.4pc in the previous quarter. A favorable job market and expanding credit from federal programs aimed at low-income families prompted the result, IBGE said. Government spending accelerated to a 3.6pc pace from 1.8pc a quarter earlier. Exports grew by 14pc after a 7.2pc gain in the previous quarter , driven by agriculture, crude and metals. Imports, which subtract from growth, fell by 0.3pc after a 2.2pc increase in the third quarter, pushed down by chemical products machinery and crude, IBGE said. Gross fixed capital formation — which measures how much companies increase their capital goods — fell by 3.1pc in the quarter after a 2.3pc annual gain in the third quarter. By João Curi Send comments and request more information at feedback@argusmedia.com Copyright © 2026. Argus Media group . All rights reserved.