Weekly Ag Markets Update – 12/01/2025

Wheat:  Wheat closed a little higher in Chicago and KC last week.  The weekly charts show that trends are in a short term range.  World prices turned weaker last week due to reports of strong production in exporter countries.  Production has been good in northern hemisphere countries.  Southern hemisphere crops appear to be very good.  Demand has been weaker for various origins including Russia.

Weekly Chicago Soft Red Winter Wheat Futures

Weekly Kansas City Hard Red Winter Wheat Futures

Weekly Minneapolis Hard Red Spring Wheat Futures

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Corn: Corn was higher last week.  Ideas are that demand is less now due to increased competition in the world market.  Trends are mixed in the market.  The harvest is almost over 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.  Temperatures should average below normal this week and there are forecasts for some rain early this week.  Oats were lower, but trends are turning up anyway.

Weekly Corn Futures

 Weekly Oats Futures

 

Soybeans and Soybean Meal:  Soybeans and Soybean Oil were higher last week, but Soybean Meal closed a little lower.  The White House said it was talking to Chin about Soybeans again and that a deal is within reach again.  A deal had been announced several weeks ago for massive Soybeans purchases by China but apparently as of now it was not real.  The US will have to compete with South America for sales in a diminishing Chinese market and US prices are currently too high to complete many new sales.  The Chinese hog herd is being reduced and this means less demand for Soybeans and Soybean Meal.  Temperatures will average below normal in the Midwest this week.

Weekly Chicago Soybeans Futures

Weekly Chicago Soybean Meal Futures

 

Rice:  Rice was lower last week as the selling in this market continues unabated.  Ideas are that the market is too cheap and that farmers have sold what needs to be sold for now.  The recent 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 over in the delta and Mid South.  California is 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.  The charts show that futures are in a short term trading range.

Weekly Chicago Rice Futures

 

Palm Oil and Vegetable Oils:  Palm Oil futures were a little higher last week despite fears of increasing production and weakening demand.  There are still Indonesian plans to increase the use of Palm Oil in biofuels blends.  There are still ideas of increasing production.  The market sentiment overall is turning bearish on ideas of increasing stocks to the market and on some concerns about demand   Canola was higher and moved back into the heart of the recent trading range on the daily charts.  Trends are still mixed on the daily charts but up on the weekly charts.

 

Weekly Malaysian Palm Oil Futures

Weekly Chicago Soybean Oil Futures

Weekly Canola Futures

 

Cotton:  Cotton was higher last week and might be in the process of completing a low on the daily charts.  Some traders still hope for some new Cotton demand but as the cash market appears to be quiet.  The weekly export sales report was positive once again, but old news.  Farmers are not selling too much due to price.  A lack of new Chinese demand has been important and a reason to see lower US prices.  The lack of demand seems to be part of the price for now.  The US harvest is over in most areas and initial yield reports are good.  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, and the trends are mixed on the daily charts.  Traders are worried about demand even with lower prices.  FCOJ from Brazil has been subjected to tariffs but those have been stopped by the US for now.  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.

Weekly FCOJ Futures

 

Coffee:  New York and London were higher last week, and trends are mixed in New York and in London.  Scattered showers are being reported now to improve tree condition in Brazil.  Mexico is in good condition, as is Central America.  Vietnam has seen too much rain as typhoons hit the country, and big rains are reported in central areas again and are causing flooding and yield and quality concerns.  The rains are easing now.  Wire reports say that Brazil farmers are not selling even with tariffs removed by the US government.

Weekly New York Arabica Coffee Futures

Weekly London Robusta Coffee Futures

 

Sugar:  New York and London were a little higher last week.  Trends are sideways but are trying to turn up.  There are still 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, but the south center harvest is almost over.  The prospect of a big 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 closed mixed and London closed a little higher last week.  A big main crop harvest is anticipated in West Africa.  Demand concerns in West Africa continue.  Light rains mixed with heat in Ivory Coast’s cocoa-growing regions last week signaled a positive outlook for the main crop.  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.  Traders are concerned over poor quality beans in Ivory Coast and talk that both Ivory Coast and Ghana have stopped marketing beans due to low prices.  The beans are in ports now and available.  The EU is expected to lift its forest restrictions on imports of certain products including Cocoa for another year.

 

Weekly New York Cocoa Futures

Weekly London Cocoa Futures

 

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