Malaysian palm oil futures fell for a fourth consecutive session on 23 September 2026, with the December Bursa Malaysia contract dropping to MYR 4,768/tonne, as rising inventories, sluggish exports and soft rival markets reinforced a bearish near-term outlook.
A series of typhoons in the Philippines has reduced July–September 2026 corn production by an estimated 14.4%, tightening regional feed grain availability and pushing up input cost risk for Southeast Asian feed manufacturers. CBOT December 2026 corn futures are trading around 529 USc/bu, while buyers consider alternative grains including millet.
Italy's soft wheat flour exports rose nearly 15% year on year in the first half of 2026, with the United States becoming the largest buyer after a 38% surge in imports, even as Black Sea wheat prices remain subdued and global grain benchmarks stay under pressure.
Combined soybean meal exports from Argentina, Brazil and the United States reached a record 73 million tonnes in 2025/26, reinforcing ample feed-ingredient availability and limiting price rallies across the soybean complex, according to CMB News.
Argentina's 2026/27 wheat output is forecast to fall sharply from the previous season's record, while war-related disruptions continue to constrain Black Sea exports. Together, the two developments are tightening global high-quality wheat availability and pushing Chicago futures to a multi-year high, raising import costs for buyers in North Africa, the Middle East and Asia.
German feed corn prices remain steady at 0.295 EUR/kg EXW Drentwede amid a drought-reduced domestic harvest, while Ukrainian export corn at Odesa has softened to 0.157–0.159 EUR/kg on CPT and FOB terms, widening the spread between the two origins and keeping EU feed buyers well supplied from Black Sea sources despite ongoing logistics risks.
Chicago December wheat futures settled lower on September 21, 2026, but a combination of solid US export sales and persistent Black Sea supply disruption risks is preventing a deeper price correction, according to CMB News.
International corn markets are navigating a tug-of-war between a projected record 66 million tonne Argentine maize harvest for 2026/27 and near-term European Union supply tightness driven by Ukrainian logistics bottlenecks. CBOT futures softened on profit-taking ahead of a U.S.–China summit, while Euronext corn held firm on constrained Black Sea inflows and elevated EU import demand.
MDEX palm oil futures posted modest gains on 23 September 2026, with the nearby October 2026 contract settling at MYR 4,640 per tonne. A gently upward-sloping forward curve reflects competing pressures: elevated Malaysian inventories and soft exports on the bearish side, against Indonesia's imminent B50 biodiesel mandate and drier-than-normal regional weather on the supportive side.
South African SAFEX sunflower seed futures softened in late September 2026 as seasonal harvest pressure weighs on local prices, while Black Sea seed and crude oil values remain underpinned by ongoing Ukrainian port disruptions and a tightening global vegetable oil balance, according to CMB News.
CBOT soybean futures held firm on 21 September 2026, with the November 2026 contract trading around 1,310 US-cent/bu, supported by record-pace U.S. export sales and continued Chinese buying, even as managed-money funds began reducing historically elevated net long positions and crude oil weakness capped gains in soybean oil.
Soybean prices are holding broadly steady, supported by strong Asian crushing margins and firm Chinese feed demand, even as Ukrainian FOB values ease and CBOT futures consolidate ahead of the US harvest. Wilmar International's H1 2026 results point to a meaningful uplift in crushing volumes and processing profits, while Brazilian planting begins under El Niño-influenced conditions.