Weekly Ag Markets Update – 09/21/2026

Wheat: Wheat was a little higher in both markets yesterday as the FED raised interest rates yesterday but as the Ukraine-Russia war continues and threatens any  exports from the region.  The reports feature no changes to either supply or demand but the average farm price was increased by 20 cents to reflect the market now.  The president of Ukraine has said that his country and Russia would sit down soon to try to find a way for grains exports to resume from both countries, and Russia said yesterday that a proposal by Ukraine was not practical.   The US Winter Wheat planting is 12% complete.  Spring Wheat is being harvested and the harvest is almost over.  Conditions are mixed 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.  The Great Plains should stay dry but less hot.

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 lower yesterday in response reports of an expanding harvest and as the Fed raised interest rates to fight inflation.  Some farmer selling was noted.  There is still too much hot and dry weather in the western and southern Midwest but moderating conditions in Europe.  Ukraine and Russia are back at war again and shipping is very limited in both countries.  It should be cooler with some wet weather in the Midwest this week.  The crop conditions were steady last week and below aa year ago.  Progress is about normal and the harvest is now 6% complete.  Anecdotal report indicate that the harvest has started in the southern Midwest.  Temperatures in the Midwest should be cooler this week amid wet weather.  Oats were higher.   The harvest is complete.

Weekly Corn Futures

Weekly Oats Futures

 

Soybeans and Soybean Meal:  Soybeans and Soybean Meal were higher and Soybean Oil was lower after the FED raised interest rates to fight inflation.  China is expected to buy more cargoes of US Soybeans before the US-China summit meetings in the coming weeks.  The harvest Hs started.  It is still hot and dry in the south but cool and wet in the north..  Condition is below a year ago and unchanged from the previous week.  Cooler temperatures and wet weather in northern areas are expected for the next week in the Midwest.  Southern areas are hot and dry. There is some concern that El Nono could affect South American Soybeans production this year.

Weekly Chicago Soybeans Futures

Weekly Chicago Soybean Meal Futures

 

Rice:  Rice closed slightly higher last week but encountered some selling tied to good harvest progress.  Brazil prices are strong on ideas of short production and El Nino fears for production on the next crop.  Harvest is active in most states and is 50% complete.  Demand remains moderate to poor for US Rice and was moderate last week.  El Nino is threatening production in Asia and Indian prices remain high and are going higher, Trends are turning down on the daily charts and are up on the weekly charts.

Weekly Chicago Rice Futures

 

Vegetable Oils:  Palm Oil was lower today.  Daily chart trends are down.  Canola was higher Last week and trends are mixed on the daily charts and up on the weekly charts.

Weekly Malaysian Palm Oil Futures

Weekly Chicago Soybean Oil Futures

Weekly Canola Futures

 

Cotton:  Cotton was lower last week on chart based selling and on the FED raising interest rates to fight inflation.  Some selling came in front of the Chinese summit this week.  The weekly export sales report was bad.  Trends in the Dollar Indes are starting to turn up and trends in Cotton are starting to turn down.  USDA cut yield and harvested area for production of 13.2 billion bales.  Domestic demand was trimmed but exports were unchanged and ending stocks were estimated at 369 million bales from 400 million last month.    Stressful weather conditions continue.  USDA this week showed that conditions are now 36% good to excellent.  Progress is above average with the crop now 8% harvested.  Forecasts and reports of scattered to isolated showers in Cotton areas continue for the Delts, and the Southeast.  Temperatures will be warm to hot in all areas.

Weekly US Cotton Futures

 

Frozen Concentrated Orange Juice and Citrus: Futures were lower last week in range based trading.  Prices are now in the lower end of the recent trading range.  USDA on Friday showed US oranges production at 58.250 million boxes and Florida production at 12.200 million boxes.  Showers are showing up in Florida and trees are recovering.  The weather for the next crop is seasonal.  The weather is considered good for production in Mexico and showers are developing in Brazil.

Weekly FCOJ Futures

 

Coffee:  New York and London were both lower again last week as the FED raised interest rates to fight inflation and as Brail crops are looking better with good weather.  Trends are down in New York and are mixed to down in London.  Brazil coffee is being offered now in increasing quantities as harvest is almost over despite increased rains.  The next crop is developing in the rest of South America amid scattered to isolated showers.  Indonesia is now about done with its harvest.  Asian conditions are called good.  Other world production conditions are generally good.  Mexico is in good condition, but Central America has been dry

Weekly New York Arabica Coffee Futures

Weekly London Robusta Coffee Futures

 

Sugar:  Both markets were lower last week on weaker energy values.  Trends are turning down on the daily charts and the weekly charts in both markets.  Drought in Europe and Brail are a major concern but seems to be easing now with the crop mostly made in Europe.  The hot and dry weather was causing losses in Sugar beets production.  There have been some rains in center-south Brazil causing some harvest delays.  Indian production is less after hot and dry conditions and production in the rest of Asia could be hurt by El Nino weather.  Higher world petroleum prices are supporting higher ethanol prices and could cause less Sugar to be produced.

Weekly New York World Raw Sugar Futures

Weekly London White Sugar Futures

 

Cocoa:   New York and London were lower last week.  Daily and weekly trends are turning down.  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 but demand has started to increase.

Weekly New York Cocoa Futures

Weekly London Cocoa Futures

 

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