Grains Report 02/19/2026

DJ Analysts’ Estimates for February Cattle-On-Feed Report
The following estimates, as compiled by the Wall Street Journal for the nation’s feedyards with a capacity of 1,000 or more head, are in percentages of the year-earlier figure. High and low projections were dropped in the calculation of averages. The U.S. Department of Agriculture report is scheduled for release at 3 p.m. ET (2000 GMT) Friday.
Average Range
of estimates of estimates
On-feed Feb 1 98.5 97.8 – 98.8
Placed in Jan 96.7 92.7 – 99.5
Marketed in Jan 87.0 86.7 – 88.0
Analyst On-Feed Placements Marketed
Feb 1 in Jan in Jan
Allegiant Commodity Group 98.8 99.5 87.2
Allendale Inc. 97.8 93.8 88.0
HedgersEdge 98.4 96.7 86.7
Livestock Mktg Info Ctr 98.3 95.2 86.8
Midwest Market Solutions 98.8 96.9 86.9
NFC Markets 98.7 98.8 86.7
Texas A&M Extension 97.8 92.7 86.7
US Commodities 98.8 98.5 87.5

DJ U.S. December Grain Imports-Feb 19
In kilograms, from the U.S. Commerce Department, converted to
pounds by Dow Jones.
—Dec 2025—- —-Nov 2025—-
kilograms pounds kilograms pounds
durum wheat 7,161,055 15,790,126 4,790,540 10,563,141
spring wheat 12,580,908 27,740,902 747,072 1,647,294
winter wheat 0 0 0 0
wheat/meslin 0 0 0 0
TOTAL WHEAT 19,741,963 43,531,028 5,537,612 12,210,434
barley 2,872,550 6,333,973 2,385,595 5,260,237
oats 96,434 212,637 87,719 193,420
corn 58,421,141 128,818,616 61,561,888 135,743,963
other corn 3,410,785 7,520,781 4,046,585 8,922,720
TOTAL CORN 61,831,926 136,339,397 65,608,473 144,666,683

DJ U.S. Dec Soymeal, Vegetable Oils/Oilseed Imports-Feb 19
In kilograms from the U.S. Commerce Department, converted to pounds
by Dow Jones.
—Dec 2025—- —-Nov 2025—-
kilograms pounds kilograms pounds
coconut oil 17,656,492 38,932,565 32,002,637 70,565,815
palm kernel oil 40,367,986 89,011,409 29,349,649 64,715,976
palm oil 100,418,118 221,421,950 97,312,501 214,574,065
soybean 40,364,541 89,003,813 35,642,941 78,592,685
soymeal 0 0 0 0
soyoil 11,277,014 24,865,816 12,474,720 27,506,758
rapeseed oil
edible 235,949,913 520,269,558 222,310,197 490,193,984
rapeseed oil,
inedible 30,167 66,518 0 0

DJ U.S. December Grain Exports-Feb 19
In kilograms (top) and in bushels (bottom), except flour in cwt and malt
in pounds. /1 denotes includes commercial and donated. Source: U.S. Department
of Commerce.
(*)NOTE: Year ago figures reflect data reported at that time.
Data includes Exports and Re-Exports.
——- In Kilograms ——-
Dec 25 Nov 25 Oct 25 Dec 24
Barley 2,358,000 2,942,238 2,348,561 1,400,000
Corn /1 7,098,645,000 7,305,417,000 6,564,115,000 5,445,049,000
Sorghum 409,063,000 242,408,000 195,837,000 443,401,000
Oats 10,879,833 3,482,905 2,468,132 2,311,506
Rye 253,000 610,480 44,000 19,975
Wheat /1 1,901,564,570 1,632,172,543 1,974,630,510 1,653,111,079
wheat flour /1 14,448,251 20,880,477 24,137,723 19,107,017
Malt 21,340,412 15,957,686 24,742,400 18,445,078
——- In Bushels, CWT or Pounds ——-
Dec 25 Nov 25 Oct 25 Dec 24
Barley 108,301 135,135 107,867 64,301
Corn /1 279,458,441 287,598,612 258,415,141 214,359,910
Sorghum 16,103,934 9,543,083 7,709,683 17,455,747
Oats 749,552 239,950 170,039 159,248
Rye 9,960 24,033 1,732 786
Wheat /1 69,869,820 59,971,459 72,554,506 60,740,811
wheat flour /1 318,529 460,336 532,146 421,238
Malt 47,047,563 35,180,682 54,547,664 40,664,443
1/Includes commercial and donated.

DJ U.S. December Oilseed, Meal, Oils/Fats Exports-Feb 19
In kilograms (top). Oils in pounds, soybeans in bushels, meal and hulls in
short tons (bottom). Source: U.S. Department of Commerce.
(*)NOTE: Year ago figures reflect data reported at that time.
Data includes Exports and Re-Exports.
——- In Kilograms ——-
Dec 25 Nov 25 Oct 25 Dec 24
soybeans 4,460,120,098 4,292,675,735 5,363,931,334 7,962,499,761
soyoil 75,842,179 45,910,037 32,570,197 126,948,012
crude 56,903,864 29,345,570 19,203,655 104,604,318
refined 34,537 214,530 83,147 1,092,976
other/1 18,688,193 16,071,997 13,027,029 21,015,823
hydrogenated 215,585 277,940 256,366 234,895
cottonseed oil 1,458,370 1,499,193 3,747,860 727,877
crude 1,194,776 968,287 2,148,931 59,647
refined 0 159,432 824,030 506,990
other/1 263,594 371,474 774,899 109,960
hydrogenated 51,280
sunseeds 235,309 256,438 728,612 382,373
sunseed oil 1,878,679 2,473,368 2,648,626 2,555,727
rapeseed 19,140,761 40,185,623 53,130,073 25,886,638
rapeseed oil 7,238,995 6,068,361 4,644,038 4,756,831
crude 2,269,320 1,029,948 168,068 477,477
refined 4,969,675 5,038,413 4,475,970 4,279,354
linseed meal 0 13,432 22,000 0
cottonseed meal 3,289,109 1,558,817 1,902,106 4,623,432
soymeal 1,370,038,551 1,124,492,979 1,018,518,830 1,293,950,229
soymeal/flour 290,134,095 202,569,865 350,471,464 234,367,315
soymeal hulls 12,026,000 17,763,000 24,871,000 19,761,000
lard 1,099,399 1,157,317 1,189,101 1,876,686
edible tallow 3,426,513 3,492,292 5,238,603 5,598,451
inedible tallow 3,451,564 5,162,226 2,832,375 9,510,062
ch white grease 0 25,078 0 21,383
——- In Bushels, Pounds or Short Tons ——-
Dec 25 Nov 25 Oct 25 Dec 24
soybeans 163,879,678 157,727,214 197,088,715 292,568,780
soyoil 167,203,412 101,214,324 71,805,005 279,872,507
crude 125,451,567 64,695,919 42,336,819 230,613,085
refined 76,141 472,958 183,308 2,409,600
other/1 41,200,420 35,432,694 28,719,688 46,331,967
hydrogenated 475,284 612,753 565,190 517,855
cottonseed oil 3,215,156 3,305,155 8,262,618 1,604,694
crude 2,634,031 2,134,708 4,737,583 131,499
refined 0 351,487 1,816,675 1,117,722
other/1 581,125 818,960 1,708,360 242,420
hydrogenated 0 0 0 113,053
sunseeds 518,768 565,349 1,606,315 842,988
sunseed oil 4,141,779 5,452,844 5,839,222 5,634,415
rapeseed 42,198,162 88,594,149 117,131,781 57,070,278
rapeseed oil 15,959,255 13,378,448 10,238,353 10,487,019
crude 5,002,995 2,270,647 370,527 1,052,657
refined 10,956,260 11,107,801 9,867,826 9,434,362
linseed meal 0 15 24 0
cottonseed meal 3,626 1,718 2,097 5,096
soymeal 1,510,193 1,239,529 1,122,713 1,426,321
soymeal flour/me 319,815 223,293 386,325 258,343
soymeal hulls 13,256 19,580 27,415 21,783
lard 2,423,760 2,551,448 2,621,519 4,137,385
edible tallow 7,554,169 7,699,187 11,549,145 12,342,474
inedible tallow 7,609,397 11,380,762 6,244,319 20,966,101
ch white grease 0 55,288 0 47,141

DJ USDA FORUM: Wheat, Corn, Soybean Planted Acreage – Feb 19
Data from 2026 USDA Agricultural Outlook Forum.
In Million Acres:
2019 2020 2021 2022 2023 2024 2025 2026 1/
Wheat 45.5 44.5 46.7 45.8 49.6 46.3 45.3 45.0
Corn 89.4 90.4 92.9 88.2 94.6 90.9 98.8 94.0
Soybeans 76.1 83.4 87.2 87.5 83.6 87.3 81.2 85.0
Total 211.0 218.2 226.8 221.4 227.8 224.4 225.3 224.0
1/ Projection
Source: USDA, National Agricultural Statistics Service.
Note: Totals May not add due to rounding.

WHEAT
General Comments: Wheat closed higher yesterday on buying tied to higher prices paid in overseas markets. The selling was helped by the weaker export inspections. The weather is now averaging above normal temperatures and some rain is forecast for parts of the Great Plains and Midwest, but variable temperatures are coming now or in the next couple of days along with some beneficial precipitation in some areas. Temperatures were cold enough a couple of weeks ago to promote Winterkill. Many parts of the Great Plains are too dry for best yield potential, but USDA has recently rated the crops in good condition. Russia has been cold as well, bust no losses have been reported although some damage is possible.
Overnight News:
Chart Analysis: Trends in Chicago are mixed to up. Support is at 531, 525, and 522 March, with resistance at 555, 565, and 571 March. Trends in Kansas City are mixed to up. Support is at 533, 525, and 516 March, with resistance at 550, 559, and 565 March. Trends in Minneapolis are not available.

RICE:
General Comments Rice was sharply lower again yesterday and trends are now down. The weekly export sales report was considered positive. Futures have been recovering for the last month after a very long and sizable down move, but the up move came to an apparent end yesterday. Traders anticipate less production this year in the US and around the world due to low prices. Weaker world prices are expected by the FAO in the coming year. Asian Rice prices are under pressure now due to a weaker Indian Rupee that forced costs for Indian Rice lower. USDA cut export demand for Long Grain Rice and increased ending stocks in the reports. Trends are mixed as demand remains moderate for US Rice.
Overnight News:
Chart Analysis: Trends are mixed to down. Support is at 1030, 1002, and 996 March and resistance is at 1051, 1056, and 11 March.

DJ USDA World Market Rice Prices – Feb 18
USDA today announced the prevailing world market prices
of milled and rough rice, adjusted for U.S. milling yields
and location, and the resulting marketing loan gain (MLG)
and loan deficiency payment LDP) rates. Source: USDA
—–World Price—– MLG/LDP Rate
Milled Value Rough Rough
($/cwt) ($/cwt) ($/cwt)
Long Grain 13.34 8.32 0.00
Medium/Short Grain 13.04 8.60 0.00
Brokens 9.44 —- —-
This week’s prevailing world market prices and MLG/LDP
rates are based on the following U.S. milling yields and
the corresponding loan rates:
U.S. Milling Yields Loan Rate
Whole/Broken ($/cwt)
(lbs/cwt)
Long Grain 49.06/18.81 6.88
Medium Grain/Short Grain 57.70/11.40 6.82

CORN AND OATS
General Comments: Corn was slightly higher yesterday in consolidation trading. Trends are still mixed. There are still excessive supplies as seen in the recent USDA reports after trending higher against strong demand. Temperatures in the Midwest should average above normal this week but will return to near normal temperatures by this weekend. Conditions are called good in Argentina and big production is expected there. Traders expect USDA to show that planted Corn area could be just under 95 million acres in the US. Oats were higher and trends are up on the daily charts.
Overnight News:
Chart Analysis: Trends in Corn are mixed. Support is at 417, 414, and 411 March, and resistance is at 445, 453, and 465 March. Trends in Oats are up. Support is at 306, 299, and 294 March, and resistance is at 325, 329, and 3323 March.

SOYBEANS
General Comments: Soybeans closed mixed and Soybean Oil was higher yesterday on what appeared to be speculative buying even though the big South American crops were still in the news. South American sources said that the Brazil crops are now more than 21% harvested. There are still ideas of additional Chinese demand soon that were fueled by statements by President Trump that he and Xi had talked and that the president had pushed him for more Soybeans purchases as both sides work to reduce trade tensions between the countries. It will be up to the Chinese government to buy as US Soybeans are too high priced for commercial demand from commercial users in China or almost anywhere else. The tariff wars between the two countries add another layer of cost onto the Soybeans. It still seems that the market is concerned about big supplies coming soon from South America with the Soybeans harvest there now underway. Temperatures will average above normal in the Midwest this week but near normal this weekend.
Overnight News:
Analysis: Trends in Soybeans are mixed to up. Support is at 1122, 1116, and 1106 March, and resistance is at 1150, 1159, and 1172 March. Trends in Soybean Meal are mixed to up. Support is at 302.00, 297.00, and 289.00 March, and resistance is at 311.00, 316.00, and 321.00 March. Trends in Soybean Oil are mixed to up. Support is at 5610, 5500, and 5410 March, with resistance at 5920, 5980, and 6040 March.

PALM OIL AND CANOLA
General Comments: Palm Oil futures was closed today for the Lunar New Year. Ideas of increasing seasonal demand and on ideas that Palm Oil is relatively cheap in the world market are still around. Demand ideas are in a state of flux right now with some looking for weaker demand and others looking for improved demand. Production is expected to drop in the short term. Canola was higher yesterday on mostly speculative buying amid strong demand ideas. The selling seen came ideas of big crops in South America. Canada and China reached agreement on a new trade deal which is expected to result in part in new sales of Canola to China
Overnight News:
Chart Analysis: Trends in Canola are mixed to up. Support is at 657.00, 647.00, and 641.00 March, with resistance at 674.00, 680.00, and 686.00 March. Trends in Palm Oil are up. Support is at 3990, 3930, and 3870 May, with resistance at 4100, 4160, and 4200 May.

Questions? Ask Jack Scoville today at 312-264-4322