Weekly Ag Markets Update – 07/13/2026

Wheat: Wheat closed higher in both markets last week as the rally tied to the USDA reports and world weather fund new footing.  The harvest continues and harvest yield reports remain low.  USDA said that Winter Wheat production is below the previous estimat3e at 990 million bushels.  Spring Wheat production was estimated higher at 475 million bushels and Durum production was decreased to 71 million bushels.  All Wheat production was higher at 1.536 billion bushels.  Wheat stocks were 920 million bushels for 2025-26 and 722 million bushels for 2026-27.  The crop condition ratings are still among the lowest in over 30 years in HRW areas and have provided some support for prices.  Conditions are good in the US Midwest, but Europe has been too hot.  The weather is now featuring scattered showers for parts of the Midwest along with cooler temperatures.

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Corn:  Corn was higher last week ss the rally tied to too much rain in many Midwest growing areas and hot and dry weather in Europe continued to fizzle out.  USDA showed that stocks were less than trade expectations at 2.020 billion bushels for the current year and 1.790 billion for the coming year on increased feed demand for the current year and increased export demand for the coming year.  Corn planted area was estimated at 95.343 million acres and that harvested area is estimated at 87.4 million acres.  It should be cool with showers around this week.  The crop conditions are strong but below aa year ago.  Forecasts for good growing conditions continue in the Midwest.  Silking is starting.  Temperatures in the Midwest should be cool for the next week.  Oats were higher last week and trends are up on the weekly charts, and are up on the daily charts.  Oats ending stocks were increased by 6 million bushels to 32 million.

 

 

Weekly Corn Futures

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Soybeans and Soybean Meal:  Soybeans and the products were higher on a the rally tied to the USDA reports on reports of improved conditions in the Midwest and new China demand news.  Soybeans stocks were estimated at330 million bushels for the current year and 310 million for the next year and are below trade estimates.  Rapid planting and emergence progress was shown by USDA this week and reports of good conditions continue.  Condition is rated high by USDA in the latest reports.  Futures were also higher of news of China demand.  Cooler temperatures and wet weather are expected for the next week in the Midwest. There is talk that more Soybeans could be planted as Corn planting is more expensive.  The big South American harvests are also weighing on prices.

Weekly Chicago Soybeans Futures

Weekly Chicago Soybean Meal Futures

 

 

Rice: Rice closed higher last week in renewed buying.  USDA said that Rice planted area is estimated at 2.017 million acres and harvested area is estimated at 1.979 million acres.  Long grain planted area is 1.395 million acres and harvested area is 1.375 million.  Yield was increased, but production was cut to 153.3 million cwt and ending stocks were reduced to 30.09 million cwt for All Rice.  Emergence is about average, and condition was slightly improved from last week.  Demand remains moderate to poor for US Rice and was moderate to poor last week.

Weekly Chicago Rice Futures

 

Vegetable Oils:  Palm Oil were a little higher last week after MPOB reported increased stocks levels for June.  Canola was higher on Chicago price action.

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Cotton:  Cotton was higher last week  USDA showed stronger production and unchanged demand for an increase in ending stocks estimates to 45.1 million bales.  World supplies were also higher.  There are ideas of warm and dry weather keeping the condition low for the crops, but the weather could moderate next week.  USDA showed that condition is still well behind year ago levels, with some areas showing improvement and other areas showing deterioration with the crop in thew squaring phase.  Progress is about average, with bolls starting to be set and squaring proceeding at a normal pace.  Forecasts and reports of scattered showers in Cotton areas continue for Texas, the Delts, and the Southeast.  Temperatures will be variable to warm.  Trends are mixed on the daily and are up on the weekly charts.

Weekly US Cotton Futures

 

Frozen Concentrated Orange Juice and Citrus: Futures were slightly lower last week in recovery trading and trends are up on the daily and weekly charts.  It is still dry in Florida.  The weather for the next crop is dry but seasonal and some rains are now being reported.  The weather is considered good for production in Mexico but it is dry in Brazil.  Scattered showers are still reported in eastern Brazil but many areas are drying out seasonally.

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Coffee:  New York was higher and London was lower last week.  The harvest delays in both Brazil and Vietnam continue.  The next crop is developing well in South America and Asia amid hot and dry conditions.  Other world production conditions are generally good.  Mostly dry conditions are being reported in Brazil.  Mexico is in good condition, as Central America.

Weekly New York Arabica Coffee Futures

Weekly London Robusta Coffee Futures

 

Sugar:  New York and London were lower last week as drought in Europe and Brail becomes an increasing concern.  The hot and dr weather is threatening Sugarbeets production.  The Iran war has been paused as both sides signing a memorandum of understanding and continuing negotiations in Geneva.  Trends are up 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.  Drier weather in parts of Brazil and India have been good for the harvest.

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Cocoa:   Both markets closed higher last week.  Daily and weekly trends are up.  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.

Weekly New York Cocoa Futures

Weekly London Cocoa Futures

 

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