Weekly Market Update 2/12/2026

Here is your weekly market update from the Garden City Co-op Grain Origination Team.

Trivia

1.  The term “Grand Prix” was first used in a motor race in which country?

2. Which spice powder is a mix of turmeric, fenugreek, chili, and cumin?

Answers at the bottom.

Market News

WASDE RECAP: There was not much in the way of exciting news in this month’s USDA supply and demand report released on Tuesday morning. Total corn supply was left unchanged from previous values at 18.597 billion bushels; however, export demand was increased by 100 million bushels to 3.3 billion bushels, decreasing carryout to 2.127 billion bushels. Sorghum told much of the same story on Tuesday – total US supply was left unchanged. No changes were made to feed usage or exports, but ethanol usage was increased by 5 million bushels to 110 million bushels. Total US milo carryout was subsequently decreased by 5 million bushels from January to February, reported at 42 and 37 million bushels, respectively. The USDA left US soybean numbers untouched across the board. On the global scale, Brazilian soybean production was increased by 2 MMT to 180 MMT. Again, a quiet report for the wheat markets too with total supply left unchanged from January. Minor adjustments were made for food usage, reported at 972 million bushels in January and 967 million bushels in February, increasing total US wheat carryout to 931 million bushels.

CHINA TRADE: Recently, there’s been an exciting surge in China’s imports of feed grains, especially U.S. sorghum and Australian barley! This increase comes after significant rainfall impacted local corn harvests. Over the past three months, importers have successfully secured about 45 cargoes, totaling at least 2.5 million metric tons of U.S. sorghum. Remarkably, this amount is three times what was shipped throughout all of 2025! Additionally, Chinese buyers have been importing around one million tons of Australian barley each month since December, nearly double the volume of last year. It's an optimistic time for trade, and growing demand demonstrates market resilience and adaptability! Traders noted that these sales are driven by high corn prices in China and competitive prices for barley and sorghum in Australia. All sources declined to provide their names due to restrictions on speaking to the media. As of January 29, 1.6 million tons of U.S. sorghum have been sold to China since early November, with most heading to "unknown" locations believed to be China. Following discussions between President Trump and President Xi in October, China resumed buying U.S. agricultural products, including soybeans. This increased demand for feed grains has boosted prices in exporter countries and aided Chinese animal feed producers facing rising corn prices. Sorghum prices at the Texas Gulf Coast have risen to $228.30 per ton, a 12.6% increase since late October. Despite a significant corn harvest, heavy rainfall has degraded crop quality in northern China, driving up grain prices. Analysts attribute the demand for barley and sorghum to corn quality issues and rising prices.
 
EXPORTS:Corn export sales nearly doubled from the previous week, coming in at 81.5 million bushels, well above trade estimates and 6% ahead of pace to meet USDA estimates. Total corn shipments also surpassed last week at almost 60 million bushels. Major corn players for the week include Japan, who also purchased new crop bushels, South Korea, and Colombia. The wheat complex rebounded slightly after a rough prior week, with weekly sales at 17.9 million bushels and 21.3 million bushels shipped.  This was towards the upper end of USDA’s estimate and keeps wheat 12% ahead of pace. HRW sales were also up at 7.3 million bushels. Top HRW export destinations for the week were Indonesia, Mexico, and Japan. Milo is back ahead of pace with 10.3 million bushels sold and 5.1 million bushels in shipments, with most of that to China. Soybeans are still tripping on their shoelaces with sales and shipments down again. Total soybean sales near 10.4 million bushels while only 41.5 million bushels were shipped. This is 88.6 million bushels (6%) behind pace to reach USDA’s estimates with 29 weeks left in the marketing year. Top soybean destinations for the week include China, Egypt, and the Netherlands.  

WEATHER: Skies today are sunny with a high near 67°F with a slight northeastern breeze. Slight rain chances begin tonight between 2 and 4 am before clearing off Friday morning. Highs Friday reach 60°F with sunny skies before a 20% chance of rain returns after 3pm. Rain chances increase Friday evening to 60% and 90% after midnight. Total amounts are estimated between a tenth and a quarter inch. Saturday looks to be rainy with a high of 56°F with an 80% chance of showers. Sunday warms back up to 67°F with sunny skies. Early next week will reach temperatures in the low 70s and overnight lows near 40°F.
 

Trivia Answers

1. France

2. Curry Powder