Soybean futures surged on February 10, 2026, boosted by Chinese demand and USDA stock revisions, while corn remained steady and wheat moved slightly. What does it all mean for farmers planning their spring strategy?

Soybean markets posted double-digit gains as traders responded to renewed Chinese buying activity, including a flash sale announcement the day before. March soybean futures rose by 11.75 cents, closing at $11.2250, with May contracts up 12.5 cents to $11.3750.

Despite the bullish momentum, the USDA left February's soybean ending stocks unchanged at 350 million bushels, contrary to analysts' expectations of a small reduction to 347 million bushels.

Soybean Futures - Tuesday, Feb. 10, 2026

Soybean futures performance on February 10, 2026.

Corn futures held mostly flat following light technical buying and a surprising USDA cut of 100 million bushels to ending stocks. March contracts closed at $4.2875, and May futures rose slightly to $4.3725.

The stock reduction brought U.S. corn ending stocks to 2.127 billion bushels, below the expected 2.227 billion, signaling tighter domestic supply. Global corn ending stocks also dipped, from 290.91 MMT to 288.98 MMT.

Corn Futures - Tuesday, Feb. 10, 2026

Corn futures performance on February 10, 2026.

Wheat markets showed minimal movement amid a mix of unchanged supply levels, slightly lower domestic use, and a 9% year-over-year rise in ending stocks, now at 931 million bushels-the highest since the 2019-20 marketing year.

Chicago SRW March futures fell by half a cent, while Kansas City HRW contracts rose 1.75 cents. The season-average farm price remained unchanged at $4.90/bu.

Wheat Futures - Tuesday, Feb. 10, 2026

Winter wheat futures performance on February 10, 2026.

USDA raised Brazil's 2025-26 soybean forecast to 6.614 billion bushels, a nearly 5% increase year-over-year. Argentina's projection held at 1.782 billion bushels. Meanwhile, global soybean stocks rose to 125.51 MMT, easing pressure on international prices.

However, experts warn that U.S. grain storage capacity has stagnated since 2020, increasing risk of marketing bottlenecks, particularly as on-farm storage grows faster than off-farm facilities.

According to Naomi Blohm of Total Farm Marketing, smart producers should monitor more than just USDA reports. Key February market drivers include:

For U.S. ag professionals, these trends highlight a mixed but strategic window for decision-making. Soybeans are currently supported by international demand and stable supply, while corn shows tightening stocks with flat pricing, demanding close watch on early spring planting conditions and input cost trends.

Winter wheat remains abundant, but price growth may be limited unless export demand picks up. With the USDA Ag Outlook Forum next week, new acreage forecasts and policy direction could further shift the outlook for spring 2026.