Soybean oil leads overnight grain strength.

February 18, 2026

The overnight grain trade did a Turnaround-Tuesday on Wednesday, with markets moving in the opposite direction after the first trading day of the week, when they reverse from a meltdown or a blowup. Soybeans pushed higher, following soybean oil bolting to new high overnight as rumors are circulating that the EPA will send its proposed biofuel blend volumes to the White House this week.

Meanwhile, in South America, corn and soybean production estimates are starting to reflect lower actual production. There are some cuts in the Brazilian crop, which certainly indicate quality issues developing. Meanwhile, no reductions have been made to corn, but there is a growing concern that the safrinha planting is running too far behind. Brazil is harvesting this huge crop, which is limiting time for