Published on March 10th, 2026
Key Drivers:
The US-Israeli war has increased the potential ceiling for prices, as higher energy costs directly impact biofuel margins.
The EPA finalized its Renewable Volume Obligations (RVO) for 2026, with total biodiesel gallons aligning with market expectations.
Soybean oil prices have risen approximately 30% in tandem with overall oil prices and continue to track global energy events.
Outlook: Soybean futures suggest prices will remain elevated throughout 2026 as energy market volatility continues.
Key Drivers:
Wheat prices are receiving a lift from the Iran conflict, alongside rising shipping costs and elevated biofuel values.
Roughly one-third of the U.S. winter wheat crop is currently facing drought conditions as it emerges from dormancy.
Global futures are being pressured by geopolitical instability despite adequate current production levels.
Outlook: Wheat prices are up 15% since the Iran conflict started and could remain high until fighting winds down.
Key Drivers:
World sugar futures jumped 10% in response to surging energy prices in Brazil and India, which incentivizes ethanol production.
U.S. sugar inventories are currently large enough to offset reduced imports, insulating domestic prices from world surges.
While world prices rise, domestic beet and cane sugar prices have not yet followed the global upward trend.
Outlook: U.S. sugar inventories are large enough to offset reduced imports, so domestic prices may not need to follow world prices higher yet.
This comprehensive research empowers you to make informed business decisions. The information contained in this monthly market update is for informational purposes only. It represents our best estimates of commodity market conditions and is subject to change without notice. While we strive to provide accurate information, Gordon Food Service cannot guarantee the completeness or accuracy of the content. Any reliance you place on this information is strictly at your own risk.
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