Weekly Ag Markets Update – 10/13/2025

Wheat:  Wheat closed lower in quiet trading last week.  Russian crop areas remain too dry in Winter Wheat areas and too wet in Spring Wheat areas, but crop size ideas are expected to increase due to reports of big yields in Spring Wheat growing areas.  Sovecon has raised its production estimates by 600,000 tons to 87.8 million tons due to higher production in Siberia.  Ideas are that production there next year will feature reduced planted area due to the lack of profitability.  A French government report showed plenty of production but lower quality.  Rains have been good in the northern Great Plains and Canada.  It has been warm in the Great Plains so far this Fall.  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 lower last week in lifeless trading with the government still closed and USDA reports cancelled for now.  The crop is maturing and the harvest is expanding.  There are ideas that US production might not be super strong due to disease such as rust to offset the demand losses.  Yield reports are showing at or above APH yields in western areas, with vey good crops reported in Minnesota.  Yields have been reported at or less than APH in areas east of the Mississippi River.  Temperatures should average near to below normal this week and there are forecasts for mostly dry conditions.  Most of the western Midwest has seen adequate or greater precipitation and production ideas are high.  Areas east of the Mississippi River have been very dry for the last month or more.  Demand for Corn in world markets remains moderate to strong.  Oats were a little lower.

Weekly Corn Futures

 Weekly Oats Futures

 

Soybeans and Soybean Meal:  Soybeans and the products closed lower as the market heard that China has imposed new restrictions on the export of rare earth metals.  Chinese exporters now must register with the government and register sales.  It is another roadblock in the quest for a trade deal between the US and China.  President Trump said that he now has no plans to talk to President Xi of China about Chinese purchase of US Soybeans, and reports indicate that their meeting of the two leaders at the end of the month will be brief if the meeting happens at all.  China has shown no interest in buying US ag products.  Forecasts call for mostly dry conditions to be seen in the Midwest this and next week.  Temperatures will average at or below normal.  The dry weather could hurt pod fill and bean size and there are indications that the yields are less than expected in eastern areas.  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 due to the Trump tariff regime.

Weekly Chicago Soybeans Futures

Weekly Chicago Soybean Meal Futures

 

Rice:  Rice was lower last week.  The harvest is wrapping up in Texas and southern Louisiana.  Harvest is starting to wrap up in Mississippi and Arkansas.  Yields and quality are mixed, but quality appears better than a year ago.  The cash market has been slow with low bids from buyers in domestic markets and average or less export demand.  Louisiana reports good but not great yields and quality.

Weekly Chicago Rice Futures

 

Palm Oil and Vegetable Oils:  Palm Oil futures were higher last week.  Reports of weaker production and strong export demand and the price action in Chicago were positive for futures, but the market has already rallied a lot and needed to see a correction.   Canola was a little higher last week.  Concerns remain about demand potential.  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 mixed to down on the daily charts and on the weekly charts.

Weekly Malaysian Palm Oil Futures

Weekly Chicago Soybean Oil Futures

Weekly Canola Futures

 

Cotton:  Cotton was higher last week in sideways trading and as the US government has continued to be shut down.  The US Dolar remains high to hurt upside potential and demand ideas.  There are no more USDA reports coming due to the closure.  The US harvest has started in most areas and initial yield reports are positive.  There are still ideas that growing conditions are generally good.  There are still reports of good weather in Texas and into the southeast with warm temperatures and a few showers and demand concerns caused by the tariff wars are still around.  Bolls are opening and there is mostly no rain except for a few showers.  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 again last week as a US government shutdown continues.  Trends are still down on the charts.  The weather is considered good for production here and in Brazil and Mexico.  Development conditions are good in Florida and in Brazil now with daily rounds of showers in Florida and dry weather in Brazil.  The poor production potential for the crops comes from early dry weather but also the greening disease that has caused many Florida to lose trees.  Brazil production potential got hurt by cold and dry weather seen earlier in the year.

Weekly FCOJ Futures

 

Coffee:  New York and London were both lower last week.  Ideas are that a Trump-Lula meeting could happen at the ASEAN summit in late October but nothing has been confirmed.  Reports indicated that the weather in Brazil will improve.  Dry conditions have been reported in Coffee production areas lately and rains are expected to return over the next couple of weeks.  There are still reduced deliverable supplies for both exchanges, but the lack of deliverable stocks in both markets has supported the futures market.  Vietnam has seen mostly good growing conditions but too much rain from some tropical systems has been reported in some areas.

Weekly New York Arabica Coffee Futures

Weekly London Robusta Coffee Futures

 

Sugar:  New York and London were mostly a little lower yesterday.  Trends are still sideways in London, and trends in New York are sideways as well.  Ideas of good supplies for the market from good growing conditions for cane and beets around the world continue.  Production in Center-South Brazil has also been strong.   The outlook for cane crops in India and Thailand are in good condition with reports of good rains this year, while Brazilian cane continue to favor producing sugar over ethanol.  The prospect of a global surplus in the 2025/26 season was keeping the market on the defensive with a rise in production in India and Thailand set to increased supplies while global consumption is expected to remain steady.

Weekly New York World Raw Sugar Futures

Weekly London White Sugar Futures

 

Cocoa:  Both markets closed lower last week and New York closed at new lows for the move on Friday.  Demand concerns in West Africa continue.  Bigger supplies are expected at West Africa ports soon as Ivory Coast has raised the farmgate price paid to farmers and they are expected to sell.  Ghana has also raised farmgate prices.  There are still reports of increased production potential in other countries outside of West Africa, including Asia and Central America.  The market feels that there is less demand and the lack of demand is expected to continue.

Weekly New York Cocoa Futures

Weekly London Cocoa Futures

 

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