Weekly Ag Markets Update – 07/20/2026

Wheat: Wheat closed sharply higher in both markets last week.  The rally is tied to increased tensions in the Black Sea with Russia unable to ship anything through th4 Azov Sea and to the USDA reports and world weather found new footing.  The harvest has been interrupted by too much rain in Texas and harvest yield reports remain low  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 moderate  temperatures after a got week last week.

 

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 ss the rally tied to too much rain in many Midwest growing areas and hot and dry weather in Europe faded once again  It should be warm with showers in the north 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 cooler this week.  Oats were higher last week and trends are up on the weekly charts and are up on the daily charts.

 

 

Weekly Corn Futures

Weekly Oats Futures

 

Soybeans and Soybean Meal:  Soybeans and Soybean Oil were higher and Soybean Meal was lower last week on reports of improved conditions in the Midwest and no new China demand news.  Rapid emergence progress was shown by USDA this week and reports of good conditions continue.  Condition is rated high by USDA in the latest reports.  Warmer temperatures and wet weather in northern areas are expected for the next week in the Midwest.  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.  USDA said that Rice planted and harvested area is estimated to be sharply lower this year, leading to much lower production and tighter ending stocks estimates.  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.

Weekly Malaysian Palm Oil Futures

Weekly Chicago Soybean Oil Futures

Weekly Canola Futures

 

Cotton:  Cotton was a little lower last week despite reports of flooding rains in Texas.  Geopolitical problems in the Middle East are stronger.  The weekly export sales report showed very poor demand.  A tropical system has entered the state and it has been raining for the last couple of days.  It remains hot  and dry in parts of the southeast.  USDA showed that conditions are still well behind year ago levels and showed deterioration with the crop in the squaring and setting bolls 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 the Delts, and the Southeast.  Temperatures will be warm.  Trends are turning mixed on the daily and are mixed on the weekly charts.

Weekly US Cotton Futures

 

Frozen Concentrated Orange Juice and Citrus: Futures were lower LAST week and trends are still down on the daily and weekly charts.  USDA increased us production to 63.5 million boxes and Florida production to 12.9 million boxes.  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.  The Trump administration has exempted oranges and orange juice from the new round of tariffs announced on Brazil.

Weekly FCOJ Futures

 

Coffee:  New York and London was higher last week.  The harvest delays in both Brazil and Vietnam continue but was lower Coffee is more and more available.  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, but Central America is dry.

Weekly New York Arabica Coffee Futures

Weekly London Robusta Coffee Futures

 

Sugar:  New York and London were near unchanged last week as the Iran war made bio fuels more valuable again.  Drought in Europe and Brail are a major 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 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.  Drier weather in parts of Brazil and India has been good for the harvest.

Weekly New York World Raw Sugar Futures

Weekly London White Sugar Futures

 

Cocoa:   Both markets closed lower last week on what appeared to be long liquidation.  Daily and weekly trends are turning mixed.  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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