Weekly Ag Markets Update – 08/25/2025

Wheat: Wheat was lower last week as the harvest of Winter Wheat is drawing to a close.  The Winter Wheat harvest is almost over now and the Spring Wheat harvest is active.  Rains have been good in the northern Great Plains but Canada has been a little too dry for best yield potential and the northern Plains had hot and dry areas earlier in the year.  Canada could still produce an average to above average crop.  Russia is still being watched for dry weather that has so far hurt yields and Ukraine is watched for the same reason and because of the war that could destroy some fields.  Russian Black Sea prices have been firming as producers are not making sales and are looking for higher prices to offset yield losses.  Southern hemisphere crops appear to be good.

Weekly Chicago Soft Red Winter Wheat Futures

Weekly Kansas City Hard Red Winter Wheat Futures

Weekly Minneapolis Hard Red Spring Wheat Futures

Unavailable today

 

Corn:  Corn was higher on ideas that the Pro Farmer tour did not back up USDA yield projections, especially east of the Mississippi River.  There still appeared to be speculative selling on widespread record crop production predictions based on additional forecasts for improving weather for the Midwest, but there was more short covering from speculators and commercial buying.  Temperatures should average near normal this week and it should be mostly dry.  Most of the Midwest has seen adequate or greater precipitation and production ideas are high.  Demand for Corn in world markets remains strong.  Pro Farmer on Friday estimated Corn yields at 182.7 bu/acre, below USDA estimates and much of the trade.  Oats were lower and made new lows for the move.

Weekly Corn Futures

 Weekly Oats Futures

 

 

Soybeans and Soybean Meal: Soybeans and the products were higher.  The buying appeared despite reports of strong yield potential from the Pro Farmer tour with both tour groups finding strong yield potential in the east and the west.  The weekly export sales report was strong for new crop Soybeans sales but once again China did not appear as a buyer. Good growing conditions continue in the Midwest with cool and mostly dry weather in the forecast.  Prices are still higher in Brazil, but China and other buyers are still buying there for political reasons.  Export demand remains less for US Soybeans as China has been taking almost all the export from South America.  Pro Farmer released its production estimates from the tour it took last week.  Soybeans yields were estimated at 53 bushels per acre, a new record and above trade estimates and USDA estimates.

Weekly Chicago Soybeans Futures

Weekly Chicago Soybean Meal Futures

 

Rice:  Rice was lower last week on follow through selling as the harvest is active in /Texas and Louisiana.  Chart trends are down on the charts and selling has been significant in the last couple of days.  The cash market has been slow with low bids from buyers in domestic markets and average or less export demand.  New crop harvesting has started in Louisiana with reports of good but not great yields and quality.  There is more concern about the crops in Arkansas where it has turned very hot.  Milling quality of the old crop Rice remains below industry standards and it takes more Rough Rice to create the grain for sale to stores and exporters.  Rice is heading in most growing areas now and harvest has started near the Gulf Coast.  Field yields and milling yields are thought to be about average at the start of the harvest.

Weekly Chicago Rice Futures

 

Palm Oil and Vegetable Oils: Palm Oil futures were higher last week.  Demand for export has been strong to start the month.  Futures were also higher today as the increase in ending stocks was not as much as anticipated.  There was talk that India will soon be buying a lot with festivals coming soon.  Ideas that current increased production levels mean higher inventories in MPOB monthly data are still around.  Canola was higher along with the price action in Chicago.  Trends are mixed on the daily charts and on the weekly charts.  The weather has generally been dry for crop development in the Prairies with warm and dry weather still around.

Weekly Malaysian Palm Oil Futures

Weekly Chicago Soybean Oil Futures

Weekly Canola Futures

 

Cotton:  Cotton was higher last week on a late week rally caused by the Powell speech in Jackson Hole.  He noted incresing chances for interest rate cuts due to weaker jobs data  that could retrain inflation.  The stock market rallied and the US Dollar was lower.   Better weather is expected for the Delta and Southeast for the coming week as crop condition reports were mostly unchanged.  There are still reports of hotter and drier weather in West Texas.  There are still ideas that growing conditions are generally good.  There are still reports of better weather in Texas and into the Southeast and demand concerns caused by the tariff wars are still around.  It is starting to turn dry in west Texas again, however.  Condition is rated behind last year.  The monsoon in India is good and a good production there is possible.

Weekly US Cotton Futures

 

Frozen Concentrated Orange Juice and Citrus:  Futures were lower last week.  Trends are mixed on the daily charts but could be turning down.  Trends are mixed on the weekly charts.  Selling was seen in response to news that President Trump had decided to remove OJ from the punishing tariffs on Brazil it announced earlier in the year.  So, the actions by the president have created major highs and lows in the market.  Development conditions are good in Florida now with daily rounds of showers.  The poor production potential for the crops comes from weather but also the greening disease that has caused many Florida and closed near the lows of the week producers to lose trees.

Weekly FCOJ Futures

 

Coffee:  Both markets were sharply higher last week on reduced deliverable supplies for the New York exchange.  Robusta is still more available to the market and with Brazil holding back on offers to world destinations.  The lack of deliverable stocks and the lack of deliveries has supported the futures market.  Prices had been dropping for several weeks and are much more moderate than before as supplies available to the market have ticked up.  The Brazil harvest is moving along, and Indonesia about over.  Vietnam is done with its harvest.  A cold snap earlier this month will reduce the size of the next coffee crop in Brazil’s Cerrado Mineiro growing region by around 412,000 60-kg bags, or 5.5%, Expocacer said this week.

Weekly New York Arabica Coffee Futures

Weekly London Robusta Coffee Futures

 

Sugar: New York and London were a little higher last week.  The Brazil production could be less, in part due to a recent freeze event and in part to reports of less sucrose in the cane.  There were ideas of less European production this year that could rally prices later in the year but have drawn no interest so far from speculators.  Ideas of good supplies for the market from good growing conditions for cane and beets around the world continue.  The South Center Brazil harvest is faster now amid drier conditions.  Production in Center-South Brazil has also been strong. Good growing conditions are reported in India and Thailand after a fast start to the Monsoon season.

Weekly New York World Raw Sugar Futures

Weekly London White Sugar Futures

 

Cocoa:  Both markets were lower last week on reports of increased selling pressure from producers after the recent rally and on reports that temperatures were moderate in Cocoa areas of Brazil.  There are ideas that some of the Cocoa was damaged.  There are still reports of increased production potential in other countries outside of West Africa, including Asia and Central America, but Africa has turned dry and producers there are concerned about potential losses now.  The market anticipates less demand and less production from Ivory Coast and Ghana.

Weekly New York Cocoa Futures

Weekly London Cocoa Futures

 

 

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