Weekly Ag Markets Update – 09/08/2025

Wheat:  Wheat was lower last week as the market found additional selling in response to word of lower prices being paid in Russia and the EU.  A French government report showed plenty of production but lower quality.  The Spring Wheat harvest is active and the Winter Wheat harvest is done.  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.  Russian Black Sea prices have been dropping as late yields have improved.  Southern hemisphere crops appear to be good and Australia estimates that production this year will be high.

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 last week on ideas that USDA will cut back on production estimates later this week in the next round of monthly reports. Ideas are still that supplies will be more than ample for the demand, but the current weather and reports of disease has hurt yield potential.  Ethanol demand was down 6% from last month at 456 million bushels and there are concerns about feed demand moving forward as feeder cattle imports from Mexico have been banned due to reports of screw worm disease in the cattle.  There are also ideas that US production might not be super strong due to disease such as rust to offset the demand losses.  Temperatures should average near to below 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.  Oats were lower and are now testing recent lows.

Weekly Corn Futures

 Weekly Oats Futures

 

Soybeans and Soybean Meal: Soybeans and the products were lower last week and continued to find some selling on ideas of strong yield potential despite the current cool and dry weather seen in the Midwest.  The dry weather could hurt pod fill and bean size.  Soybean Oil was lower on strong crush data released recently by USDA. A drop in condition ratings shown by USDA a week ago was given as a reason to buy and traders now anticipate that USDA will cut back on yield estimates in its next round of monthly reports later this week.   China has not bought US Soybeans yet and traders are worried that demand for the new crop will be a lot less this year. 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.

Weekly Chicago Soybeans Futures

Weekly Chicago Soybean Meal Futures

 

Rice: Rice was a little lower last week but held the recent lows on the weekly charts as the harvest is active in Texas and southern Louisiana.  Crop condition ratings were mostly good last week.  Chart trends are mixed on the charts.  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.  Texas reports average to below average field and milling yields.  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.  Harvest is active near the Gulf Coast and has started in Mississippi and Arkansas.

Weekly Chicago Rice Futures

 

Palm Oil and Vegetable Oils: Palm Oil futures were a little 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 lower as exporters remain worried about access to the Chinese market.  The Canadian government is moving now to support farmers in the face of the Chinese demand loss and also in the face of the Trump tariffs.  Trends are down 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 a little higher last week in narrow range trading.  Futures remain in a trading range on the weekly charts.  Crop condition reports were a little lower in quality.  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 good weather in Texas and into the Southeast and demand concerns caused by the tariff wars are still around.  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 as the weather is considered good for production here and in Brazil and Mexico.  Showers and moderate temperatures are also reported in Brazil.  Development conditions are good in Florida now with daily rounds of showers.  The poor production potential for the crops comes from early dry 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:  New York was higher and London was lower yesterday as traders liquidated long positions and sold new positions.  There are still reduced deliverable supplies for both exchanges as commercials have taken the supplies instead of buying in cash markets.  Robusta is still more available to the market and with Brazil holding back on offers to world destinations.  The lack of deliverable stocks in both markets and the lack of deliveries has supported the futures market.  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.  Conab now estimate production in Brazil at 55.2 million bags, from 55.7 million in its previous estimate.  Rains will be needed in September to improve the outlook for next year’s arabica crop in Brazil, which has been impacted by dry weather and cold snaps.  The ICO said that July world exports were 10.3 million bags, down 0.7% from July, 2024.

Weekly New York Arabica Coffee Futures

Weekly London Robusta Coffee Futures

 

Sugar:  New York and London were lower once again last week on reported speculative selling.  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.  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.  The outlook for cane crops in India and Thailand remains favorable after good rains this year, while Brazilian cane mills continue to favor producing sugar over ethanol.  South Africa’s sugar farmers are having trouble from U.S. tariffs and from cheap imports from countries including neighboring Eswatini.

Weekly New York World Raw Sugar Futures

Weekly London White Sugar Futures

 

Cocoa:  New York and London were lower last week as demand concerns in West Africa were important.  There are still reports of increased production potential in other countries outside of West Africa, including Asia and Central America, but African producers are concerned about potential losses now.  The market feels that there is less demand and less production from Ivory Coast and Ghana and the lack of demand is expected to continue.

Weekly New York Cocoa Futures

Weekly London Cocoa Futures

 

 

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