Weekly Ag Markets Update – 10/27/2025

Wheat:  Wheat closed higher last week in reaction to news that the government has sanctioned Crude Oil and products exports from Russia.  The news lifted all commodities markets and Wheat could be affected if exports from Russia are affected by the sanctions.  No USDA reports were released due to the government shutdown.  Russian crop areas remain too dry in Winter Wheat areas and too wet in Spring Wheat areas, but crop size ideas have increased due primarily to reports of big yields in Spring Wheat growing areas.  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 higher last week on news that the US government will start to support farmers even with the government closed.  The Wall St Journal said that the total support could total 3.0 billion dollars.  Also, the president has sanctioned Russian Crude Oil exports in a move that rallied Crude Oil and supported ethanol and Corn prices.  Trends are sideways in the market.  Most USDA reports are cancelled as the government is still closed.  The harvest is active in all areas of the Midwest.  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 very 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 above 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 higher.

Weekly Corn Futures

 Weekly Oats Futures

 

Soybeans and Soybean Meal:  Soybeans and Soybean Meal were higher last week and Soybean Oil was lower as the trade war between the US and China continued but as President Trump said that a primary focus of his proposed meeting with Xi of China remains Chinese Soybeans demand.  The US government has announced that it will support farmers with about 3.0 billion dollars even with the government closed.  Traders are looking forward to positive results from the meeting between Trump and Xi near the end of the month.  China has shown no interest in buying US ag products and Trump has also threatened to regulate cooking oil imports from China in a new escalation in the war as China is restricting Rare Earth metals to the US.  Forecasts call for showers and rains to be seen in the Midwest this week.  Temperatures will average near normal.  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 once again last week.  The selling has been to be relentless and appears tied to the weaker prices in Asia and especially India.  Trends are down in the market.  The harvest is wrapping up in Texas and southern Louisiana.  Harvest is now wrapping up in Mississippi and Arkansas.  California is also about done with its harvest.  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.

Weekly Chicago Rice Futures

 

Palm Oil and Vegetable Oils:  Palm Oil futures were a little lower last week in sympathy with the price action in Crude Oil and Soybean Oil.  The market sentiment overall is turning bearish on ideas of increasing stocks to the market and on some concerns about Indian demand   Canola was a little higher as Canada and China agreed to negotiate trade issues that have included a ban on imports of Canadian Canola by China.  Trends are mixed 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 near unchanged yesterday as it waits for news from Asia.  The market hopes for positive news from the Trump-Xi meetings near the end of the month but so far no meeting time or date has been announced officially.  President Trump just raised tariffs on China to 100% but is looking to extend the current deal if a better deal can’t be reached.  There are no more USDA reports coming due to the closure.  The US harvest is active in most areas and initial yield reports are positive.  However, Cotton is not being sold by many producers as they wait for higher prices.  There are still ideas that growing and harvesting conditions are generally good.  There are still reports of good weather in Texas and into the southeast with variable temperatures and a few showers and demand concerns caused by the tariff wars are still around.  Bolls are opening.  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 higher last week on short covering after making new lows for the move.  The trends are mixed.  The US government remains shut down.  The weather is considered good for production here and in Brazil and Mexico.  Development conditions are good in Florida and in Brazil now with occasional 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 and dry weather now.

Weekly FCOJ Futures

 

Coffee:  New York and London were higher last week and New York traded to new weekly highs before correcting on forecasts now call for some showers this week.  Fears of dry weather through at least the end of the month in Brazil that could impact cherry set and development remain.  There are still reduced deliverable supplies for both exchanges, and 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.  Activity remained quiet in Vietnam on limited supplies as offers of fresh beans from the current harvest have yet to pick up.  U.S. and Brazilian officials held trade talks on Thursday that the two sides called positive and agreed to work to schedule a meeting between President Donald Trump and Luiz Inacio Lula da Silva soon.  A revision of the 50% U.S. tariff on Brazilian imports, including coffee, could push arabica prices lower.

Weekly New York Arabica Coffee Futures

Weekly London Robusta Coffee Futures

 

Sugar:  New York and London were lower last week.  Trends are still mostly down in both markets.  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:  New York and London closed higher last week and trends turned up.  London December was mostly lower.  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.  Cocoa arrivals at ports in Ivory Coast were down 52% between October 1 and October 12 against last year.

Weekly New York Cocoa Futures

Weekly London Cocoa Futures

 

 

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