Wheat Futures Fall on Larger Crop Projection for Russia — Daily Grain Highlights

ForkLibertarian · 2026-02-13T21:32:28+00:00

Wheat prices fell amid concerns about Russia's crop health, while soybeans slightly declined and corn saw a minor increase. Market movements were influenced by upcoming holidays and China's mold issues in corn stocks. A trade deal with Taiwan positively impacts U.S. agricultural exports.

ForkLibertarian

2026-02-13 21:32:28

Abstract generation in progress

By Kirk Maltais

–Wheat for March delivery fell 0.6% to $5.49 a bushel on the Chicago Board of Trade Friday, with the short-covering that’s been supporting wheat futures this week coming to a halt on questions regarding Russia’s crop health.

–Soybeans for March delivery fell 0.2% to $11.34 3/4 a bushel.

–Corn for March delivery rose 0.1% to $4.31 3/4 a bushel.

HIGHLIGHTS

Expanded Projection: Russian agricultural research firm IKAR increased its forecast for the size of the Russian wheat crop. IKAR hiked its projection to 91 million metric tons. In its last WASDE report, the USDA pegged Russian production at 89.5 million tons, which is unchanged from the prior month. There were concerns that ice hitting Russian wheat crops might cause damage, but Black Sea agricultural research firm SovEcon said earlier that any damage would likely be minimal unless freezing temperatures continue.

Long Weekend: Much of today’s trading was last-minute positioning ahead of holidays. In the U.S., markets are closed on Monday in observance of Presidents Day. In China, the Lunar New Year begins next week, which likely means commerce from the world’s largest agricultural export buyer will be limited. “Markets have had a good week and to see profit taking and positioning as a result is not surprising,” said Karl Setzer of Consus Ag Consulting.

INSIGHT

Seeing Spots: Excessive rains in China have introduced mold problems for harvested corn, according to media reports. Analysts say that with mold spreading through China’s corn stocks, the country may need to seek out more exports to fill the gap–including from the U.S., the world’s biggest corn grower. “China corn prices have been rising while U.S. prices have been steady, widening the gap and increasing the odds China could buy some U.S. corn,” Hightower Report said in a note.

Welcome to the Table: The trade deal between the U.S. and Taiwan elicits cheers by representatives of the U.S. agricultural sector. Taiwan’s tariffs on U.S. agricultural goods have been removed, allowing Taiwan to serve as an economy with preferential market access to U.S. goods, said the U.S. Trade Representative. “This reciprocal trade agreement deepens our bilateral relationship and our cooperation on current and emerging issues,” the USTR in said a press release. U.S. interactions with Taiwan have been scrutinized by China, which may result in retaliatory trade moves by Beijing.

AHEAD

–The CBOT and the USDA will both be closed in observance of President’s Day, reopening on Tuesday.

–The USDA will release its weekly Grain Export Inspections report at 11 a.m. ET Tuesday.

–Nutrien Ltd. will release its fourth quarter 2025 earnings report after the stock market closes Wednesday.

Write to Kirk Maltais at [email protected]

(END) Dow Jones Newswires

February 13, 2026 15:14 ET (20:14 GMT)

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