Weekly Ag Markets Update – 09/28/2026

Wheat: Wheat was lower in both markets Friday at the US-China summit wrapped with no new sales announcements and as the Ukraine-Russia war continues and threatens any exports from the region.  Both sides have reported an export pace more than 50% less than a year ago.  The markets trimmed the losses after opening on the lows.  The US Winter Wheat planting is 19% complete.  The Spring Wheat harvest is now over.  Conditions are mixed in the US Midwest.  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 Friday on selling at the end of the US-China summit and no real hopes for positive demand news from the China summit.  There is moderating weather in the western and southern Midwest.  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 10% complete.  Anecdotal report indicate that the harvest has started in the southern Midwest.  Temperatures in the Midwest should be cooler this week amid mostly dry weather.  Oats were higher.   The harvest is complete.

Weekly Corn Futures

 Weekly Oats Futures

 

Soybeans and Soybean Meal:  Soybeans and Soybean Oil were higher yesterday on hopes for positive demand news from the China summit now over and on ideas of higher world petroleum prices longer term from the wars.  Soybean Meal was lower.  China is expected to buy more cargoes of US Soybeans before the US-China summit meetings in the coming weeks.  The harvest is now 8% complete.  It is still hot and dry in the south but cool and wet in the north.  Moderating weather is expected in southern areas this week with precipitation and cooler temperatures.  Condition is below a year ago and unchanged from the previous week.  Cooler temperatures and wet weather are expected for the next week in the Midwest. 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 near unchanged Friday in consolidation trading and has put together  strong rally this week.  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 70% 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 lower yesterday 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 yesterday after a rally this week based on stressful weather seen recently and disappointment for new demand from China due to the summit now completed.  The weekly export sales report released on Thursday showed strong demand.  The weather is expected to improve this week with somewhat cooler temperatures and rains, especially in West Texas.  USDA last week showed that conditions are now 48% good to excellent.  Progress is above average with the crop now 12% harvested and 58% opening bolls.  Forecasts and reports of scattered to isolated showers in Cotton areas continue for the Delts, and the Southeast.  Temperatures will be warm but not hot in all areas.

Weekly US Cotton Futures

 

Frozen Concentrated Orange Juice and Citrus: Futures were a little lower yesterday.  Prices are still in the middle to upper end of the recent trading range.  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 higher yesterday as Brail crops are looking better with good weather.  Trends are mixed in New York and in London.  Brazil coffee is being offered now in increasing quantities as harvest is almost over despite increased rains.  Conditions are called good for next crop development.  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:  London and New York were lower on speculative selling.  Trends are mixed on the daily charts in London and are mixed to up in New York.  Drought in Brazil are a major concern.  The hot and dry weather was causing losses in Sugar beets production.  Refines in the region are producing ethanol at the expense of Sugar..  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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