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Heartland Ag Edge
Heartland Market Talk: Tariff Tensions, Soybean Oil Surge & Cattle Collapse
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Heartland Market Talk: Tariff Tensions, Soybean Oil Surge & Cattle Collapse

02/23/2026

🌎 Macro & Trade Headlines

  • Weekend pressure after President Trump raised Section 301 tariffs to 15% following Supreme Court ruling

  • Speculation China handshake agreements tied to ongoing “Phase One–style” negotiations

  • Trump scheduled to visit China March 31 for further trade discussions

  • Gerald R. Ford aircraft carrier group joins USS Abraham Lincoln in Mediterranean

    • Geopolitical tension supported crude oil early


🌽 Grain Markets Overview

🛢 Soybean Oil – The Leader

  • Rallied over 60 cents early in the session

  • Still up 45 cents at 59.79

  • Supported by:

    • Strong crude oil

    • Biofuel demand

    • EPA week (RVO expectations & SRE reallocations possible soon)

  • Gave back some early strength but remained positive

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