02/11/2026 Non-USDA-Like Comment Add Intrigue to Uneventful WASDE

02/11/2026  Click Above to Watch the Morning Market Talk Video Non-USDA-Like Comment Add Intrigue to Uneventful WASDE On the Grains Wheat markets rebounded overnight, while soybeans pulled back from yesterday’s gains and corn pivoted around unchanged. The broader marketplace awaits the January jobs data at 7:30 a.m. CT. Economists expect non-farm payrolls to have increased around 60,000 last month, though the whisper number ahead of the report is lower. USDA’s February WASDE Report passed without much fanfare, as expected. USDA cut its 2025-26 corn ending stocks forecast by 100 million bushels to 2.127 billion bushels as it raised exports to a record 3.3 billion bushels, reflecting the stellar pace through the first five months of the marketing year. There were no changes to the domestic soybean balance sheet. USDA raised wheat ending stocks 5 million bushels from last month to 931 million bushels on reduced food use. On the global balance sheets, USDA cut corn and wheat ending stocks, while raising soybean carryover due to a bigger Brazilian crop forecast. In an unusual move, the World Board included this statement in the report commentary: “China is reported to be considering buying more U.S. soybeans. Global soybean import demand is nearly…