Weekly Ag Markets Update – 04/20/2026

Wheat: Wheat closed higher in both markets last week with KC leading the way as rains failed to fall in the western Great Plains over the weekend but more chances for rains appeared in the forecasts for later this week.  The forecasts call for some rain in the next week or so but not in amounts more coverage that would save the crop.  Conditions are too dry in much of the US Great Plains and too wet in the US Midwest and in western Europe for best production and quality potential.  Expected rain systems this week in the Great Plains could bring relief to crops produced there.  The weather is now featuring precipitation is forecast for parts of the Midwest along with variable temperatures.   

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 slightly higher last week in correction trading as too much rain is falling in the Midwest and farmers want o start planting.  There are still excessive supplies as seen in the recent USDA reports after prices were trending higher on strong demand.  Temperatures in the Midwest should be generally warm for the next week.  Conditions are called good in Argentina and big production is expected there.  Oats were slightly lower and trends are mixed on the daily charts and mixed to on the weekly charts as the market held support areas.   

Weekly Corn Futures 

 

 Weekly Oats Futures 

   

Soybeans and Soybean Meal: Soybean closed a little higher and Soybean Oil was higher and Soybean Meal was unchanged last week as the weather is too wet for planting in the US.  The US government apparently has no idea on how to manage risks in the Hormuz or how to end the war.  Big South American crops are being harvested, and ideas are that Chinese buying could be interrupted due to the Iran war and new import rules imposed by China.  South American sources said that the Brazil crops are now more than 65% harvested.  The tariff wars between the US and other countries add to cost of US Soybeans.  Temperatures will be generally warm in the Midwest for the next week. 

Weekly Chicago Soybeans Futures 

Weekly Chicago Soybean Meal Futures  

 

Rice:  Rice closed higher last week helped in no small part to the big rally seen on Friday and trends are mixed.  The market failed at resistance on the daily charts a couple of days ago.  Traders anticipate less production this year in the US and around the world due to low prices.  USDA said that Rice planted area would be about 12% less in the coming year.  Demand remains moderate for US Rice but export demand has been less lately.      

Weekly Chicago Rice Futures 

  

Vegetable Oils:  Palm Oil futures was lower today on ideas of increasing production.  Demand ideas are in a state of flux right now due to the war.   Canola was lower yesterday.  

Weekly Malaysian Palm Oil Futures:  

Weekly Chicago Soybean Oil Futures  

Weekly Canola Futures  

    

Cotton: Cotton was higher again last week as rains remain hard to find in major growing areas but are are now forecast for the western Great Plains and desert southwest but not in a general way.  The south looks to stay mostly dry for now with planting dates on the calendar now.  The market is worried about the weather that remains hot and dry in US Cotton areas, mostly from Texas to the west, but increasingly on areas of the deep south and southeast.  Overseas production in places like India and Brazil are expected to be high, but overall world production is expected by USDA to fall on reduced global planted rea and reduced yields.  Trends are up on the daily charts. 

Weekly US Cotton Futures 

 

Frozen Concentrated Orange Juice and Citrus: Futures were lower last week on what was reported to be speculative selling.  The Florida harvest is about over and isolated showers are now being reported.  The weather for the next crop is dry but seasonal and some rains are starting to appear.  Chart trends are down on the daily charts.  The weather is considered good for production in Brazil and Mexico.  Scattered showers are still reported in Brazil. 

Weekly FCOJ Futures 

   

Coffee:  New York and London were both lower last week.  The next crop is developing in South America and Asia.  There are still ideas of good supplies available on the farm, but getting Coffee from the farm to the market is another problem due to the war with Iran.  Brazil said exports might not improve that much in March due to shipping costs and concerns.  There are reports of very good conditions in Brazil and a large crop is forecast.  World production conditions are generally good.  Scattered showers are being reported now to improve tree condition in Brazil.  Mexico is in good condition, as is Central America.  Vietnam has had scattered showers and conditions there are called good.   

Weekly New York Arabica Coffee Futures   

Weekly London Robusta Coffee Futures 

  

Sugar:  New York and London were both higher yesterday.  The war has increased world petroleum prices and could divert demand from Sugar production to production of ethanol.  But some in the market expect less war in the near future.  India, the world’s second-largest producer, had no plans to curb sugar exports to provide downward pressure on prices.  Trends are mixed on the daily charts in both markets.  There are good supplies for the market from good growing conditions for cane and beets around the world.  The prospect of a big global surplus in the 2025/26 season was keeping the market on the defensive but a rise in production in India and Thailand being offset by the war   

Weekly New York World Raw Sugar Futures 

Weekly London White Sugar Futures  

 

Cocoa:  New York and London closed lower last week.  Short term trends are mixed in both markets.  A big main crop harvest has arrived in West Africa and rains have been positive for the next 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 due to the high prices seen last year and the lack of demand is expected to continue.  Weak demand has led to a build-up on unsold supplies in both Ivory Coast and Ghana, while the prospect of another global surplus in 2026/27 are real.  Cocoa demand has fallen sharply after prices nearly tripled in 2024, prompting chocolate makers to reformulate ingredients and shrink the size of their bars.   

Weekly New York Cocoa Futures 

Weekly London Cocoa Futures  

  

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