Grains Report 02/20/2026

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. Export Sales: Weekly Sales Totals-Feb 20
For the week ended Feb 12, in thousand metric tons, except cotton in
thousand running bales. Net changes in commitments are gross sales,
less cancellations, buy-backs and other downward adjustments. Total
commitments are total export shipments plus total sales.
The marketing year for wheat and barley began Jun 1, cotton and
and rice Aug 1, corn, soybeans and sorghum Sep 1, and soymeal and
soyoil Oct 1. Source: USDA
wk’s net chg total
in commitments commitments undlvd sales
this yr next yr this yr last yr this yr next yr
wheat 288.0 18.5 22598.2 19657.0 5175.0 211.1
hrw 15.0 5.5 8021.9 4711.6 1510.7 57.9
srw 51.3 13.0 2996.9 2946.9 718.3 77.4
hrs 171.6 0.0 5878.3 6293.4 1409.0 21.5
white 26.1 0.0 5148.2 5379.4 1351.2 36.3
durum 24.1 0.0 552.8 325.7 185.7 18.0
corn 1469.5 65.7 62274.1 47869.6 25913.4 1006.4
soybeans 798.2 66.0 35370.5 43483.2 11021.1 199.5
soymeal 480.9 0.0 11481.8 10396.7 4962.1 60.8
soyoil 11.1 0.3 349.7 690.7 127.9 4.2
upland cotton 466.3 33.1 8500.6 9443.4 4316.8 747.0
pima cotton 4.8 0.0 273.0 290.3 86.9 0.5
sorghum 70.5 0.0 4012.1 1197.9 2285.4 0.0
barley 0.1 3.1 73.1 37.0 32.7 3.1
rice 160.6 0.0 1846.1 2197.8 630.5 0.0

DJ Canadian Grain Handling Summary – Feb 19
WINNIPEG — The following are Canadian grain handling summary statistics
for the week ended Feb. 19, 2026. Figures in thousands of metric tons.
Source: Canadian Grain Commission.
Durum
Wheat Wheat Oats Barley Flax Canola Peas Corn Total*
COMMERCIAL STOCKS
This Week 2377.5 791.9 341.3 580.2 33.2 1501.5 441.4 159.0 6950.1
Week Ago 2022.5 263.7 242.7 282.2 27.5 1182.3 225.1 165.7 4924.7
Year Ago 2662.9 652.2 293.8 412.7 27.9 1410.7 304.5 299.8 6669.2
PRODUCER DELIVERIES
This Week 457.4 101.4 51.5 96.0 4.4 374.8 48.4 11.2 1196.8
Week Ago 499.2 107.5 57.6 112.0 3.4 638.7 80.8 17.3 1579.5
To Date 14007.8 3672.7 1372.7 3113.6 105.6 10691.8 1889.9 422.7 38569.9
Year Ago 13648.1 3563.2 1467.2 2122.8 70.7 11468.4 1818.2 414.4 37229.2
TERMINAL RECEIPTS
This Week 391.0 124.4 0.1 51.3 0.0 236.2 96.3 8.2 969.9
Week Ago 315.5 82.6 0.0 167.3 0.0 190.5 32.3 5.5 922.9
To Date 14288.6 3896.7 196.3 1958.4 17.0 4647.2 1380.9 560.9 32313.8
Year Ago 12983.3 3426.2 329.7 1202.5 14.8 6311.1 1393.6 1132.5 31825.9
EXPORTS
This Week 220.3 96.1 15.2 170.3 1.3 257.1 39.2 0.0 891.8
Week Ago 528.2 130.5 28.9 207.7 0.6 185.8 82.6 0.0 1311.9
To Date 12247.9 2946.1 554.7 1923.2 36.3 4025.0 1314.0 398.1 27812.2
Year Ago 11179.2 3074.7 850.7 1133.5 34.8 5845.5 1372.4 1135.2 28889.8
DOMESTIC DISAPPEARANCE
This Week 48.1 6.9 16.4 20.1 1.0 158.8 4.8 23.0 307.0
Week Ago 63.5 3.7 14.2 16.7 1.2 353.5 3.2 16.0 492.6
To Date 2319.2 599.2 435.3 693.5 33.7 6581.8 112.1 621.3 12543.8
Year Ago 2726.8 356.3 521.7 826.3 28.8 6406.4 121.4 606.4 12773.8
*Totals include data from other crops not shown including rye, soybeans,
sunflower seed, canaryseed, mustard seed, beans, lentils and chickpeas.
Source: MarketsFarm (news@marketsfarm.com, 204-414-9084)

WHEAT
General Comments: Wheat closed higher yesterday on buying tied to higher prices paid in overseas markets and on drier weather in the Great Plains. 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 a few 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 565, 571, and 577 March. Trends in Kansas City are mixed to up. Support is at 533, 525, and 516 March, with resistance at 571, 577, and 583 March. Trends in Minneapolis are not available.

RICE:
General Comments Rice was lower again yesterday and trends are 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. Asian Rice prices are under pressure now due to a weaker Indian Rupee that forced costs for Indian Rice lower. Trends are mixed as demand remains moderate for US Rice.
Overnight News:
Chart Analysis: Trends are mixed to down. Support is at 1002, 996, and 984 March and resistance is at 1051, 1056, and 11 March.

CORN AND OATS
General Comments: Corn was slightly lower 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 332, 338, and 344 March.

SOYBEANS
General Comments: Soybeans and Soybean Oil were 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. Soybean Oil was supported by strong demand ideas led by demand for biofuels. 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 5980, 6040, and 6100 March.

PALM OIL AND CANOLA
General Comments: Palm Oil futures were lower today in trading after the Lunar New Year as the export data from private sources showed weaker demand. 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.

DJ Malaysia Feb. 1-20 Palm Oil Exports Fell 12.6% on Month to 779,834 Tons, AmSpec Says
By Megan Cheah
Malaysia’s palm oil exports during the Feb. 1-20 period are estimated 12.6% lower on month at 779,834 metric tons, cargo surveyor AmSpec Agri Malaysia said Friday.
The following are the major items in the AmSpec estimate:
(All figures in metric tons)
Feb. 1-20 Jan. 1-20
RBD Palm Olein 139,404 194,388
RBD Palm Oil 69,234 115,554
RBD Palm Stearin 71,551 72,953
Crude Palm Oil 258,045 272,045
Total* 779,834 892,428
*Palm oil product volumes don’t add up to total as some products aren’t included.

DJ Malaysian PM Cash Market Prices for Palm Oil – Feb. 20
The following are prices for Malaysian palm oil in the cash market at 1000 GMT Friday, supplied by commodity broker Matthes & Porton Bhd.
Prices are quoted in U.S. dollars a metric ton, except for crude palm oil and palm kernel oil, which are in ringgit a ton. Palm kernel oil prices are in ringgit a pikul, a Malaysian measurement equivalent to 60 kilograms.
Refined, bleached and deodorized palm oil, FOB, Malaysian ports
Offer Change Bid Change Traded
Mar 1080.00 -05.00 Unquoted – –
Apr/May/Jun 1082.50 -05.00 Unquoted – –
Jul/Aug/Sep 1085.00 -02.50 Unquoted – –
Oct/Nov/Dec 1082.50 -02.50 Unquoted – –
RBD palm olein, FOB, Malaysian ports
Offer Change Bid Change Traded
Mar 1085.00 -05.00 Unquoted – –
Apr/May/Jun 1087.50 -05.00 Unquoted – –
Jul/Aug/Sep 1090.00 -02.50 Unquoted – –
Oct/Nov/Dec 1087.50 -02.50 Unquoted – –
RBD palm stearin, FOB, Malaysian ports
Offer Change Bid Change Traded
Mar 1055.00 00.00 Unquoted – –
Palm Fatty Acid Distillate, FOB Malaysian ports
Offer Change Bid Change Traded
Mar 1045.00 -05.00 Unquoted – –
Crude palm oil, Delivered Basis, South Malaysia
Offer Change Bid Change Traded
Mar 4,100.00 -20.00 Unquoted – –
Palm kernel oil, Delivered Basis, South Malaysia
Offer Change Bid Change Traded
Mar 428.00 -17.00 Unquoted – –
($1=MYR3.901)

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