Weekly Ag Markets Update – 02/17/2026

Wheat:  Wheat closed higher last week on what appeared to be speculative short covering.  The weather is now averaging above normal temperatures.  Temperatures were cold enough a couple of weeks ago to promote Winterkill.  The snow came after the cold weather was a factor. Concerns on the condition of the Winter Wheat crops moving forward are growing as there is little snow cover and some very cold temperatures are occurring that could have created Winterkill over the weekend again.  Many parts of the Great Plains are too dry for best yield potential.  Russia has been cold as well, bust no losses have been reported although some damage is possible.

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 a little higher last week on what appeared to be speculative buying.  Trends are mixed due to excessive supplies as seen in the recent USDA reports after trending higher in recent weeks to the recent demand based rally and after production was increased in the annual report.  USDA increased production in the annual reports and the increased supplies have made it hard for prices to rally at all despite reports of strong demand.  USDA increased export demand and slightly cut ending stocks in the reports released this week.  Temperatures in the Midwest should average above normal this week.  Oats were higher and trends are mixed on the weekly charts.

 

Weekly Corn Futures

Weekly Oats Futures

 

Soybeans and Soybean Meal:  Soybeans and the products were higher last week on what appeared to be speculative buying even though the big South American crops were still in the news.  South American sources said that the Brazil crops are now more than 16% harvested.  There are ideas of additional Chinese demand soon that were fueled by statements by President Trump that he and Xi had talked and that the president had pushed him for more Soybeans purchases as both sides work to reduce trade tensions between the countries.  It will be up to the Chinese government to buy as US Soybeans are too high priced for commercial demand from China or almost anywhere else.  The tariff wars between the two countries add another layer of cost onto the Soybeans.  It still seems that the market is now more concerned about big supplies coming soon from South America with the Soybeans harvest there now underway.  Temperatures will average above normal in the Midwest this week.

Weekly Chicago Soybeans Futures

Weekly Chicago Soybean Meal Futures

 

Rice:  Rice was higher yesterday and trends are mixed to up.  The weekly export sales report was considered positive.  Futures have been recovering for the last month after a very long and sizable down move.  Traders anticipate less production this year in the US and around the world due to low prices.  Weaker world prices are expected by the FAO in the coming year.  Asian Rice prices are under pressure now due to a weaker Indian Rupee that forced costs for Indian Rice lower.  USDA cut export demand for Long Grain Rice and increased ending stocks in the reports.  Trends are mixed as demand remains moderate for US Rice.

Weekly Chicago Rice Futures

 

Palm Oil and Vegetable Oils:  Palm Oil futures were lower last week on reports and ideas of weaker demand and on weaker outside markets.  Ideas of increasing seasonal demand and on ideas that Palm Oil is relatively cheap in the world market are still around.  Demand ideas are in a state of flux right now with some looking for weaker demand and others looking for improved demand.  Production is expected to drop in the short term.   Canola was higher last week on mostly speculative buying amid strong demand ideas.  The selling seen came in response to price action in Chicago and ideas of big crops in South America.  Canada and China reached agreement on a new trade deal which is expected to result in part in new sales of Canola to China

Weekly Malaysian Palm Oil Futures

Weekly Chicago Soybean Oil Futures

Weekly Canola Futures

 

Cotton:  Cotton was higher last week in choppy trading and trends are mixed.  The weekly export sales report was positive for prices.  However, there are still demand concerns moving forward on weak world economy ideas led by the US weakened economy and demands in world forums.  Tariffs on other nations that change all the time were creating an atmosphere not conducive for new demand for US products.  USDA showed no important changes in its WASDE reports released on Tuesday.

Weekly US Cotton Futures

 

Frozen Concentrated Orange Juice and Citrus:  Futures were higher last week and futures recovered much of the losses of the previous week as the Florida harvest is active and the weather remains benign for harvest progress as conditions are mostly dry.  Weather for the next crop was very cold in January and into early February  and some damage to trees and fruit was expected.  The frozen fruit is often harvested and sent to processors for juice and this fact helped to turn trends down on the weekly charts last week.  Chart trends are mixed on the daily charts.  The cold and dry Winter weather has created more ideas of some crop losses.  Traders are worried about demand even with overall low prices.  The weather is considered good for production in Brazil and Mexico.  Scattered showers are reported in Brazil.

Weekly FCOJ Futures

 

Coffee:  Both markets closed higher last week in sideways trading as good weather for growing and harvesting continues to be seen in Brazil and Vietnam.  Production ideas are high in both countries.  The trends are mixed in New York and mixed in London on the daily charts.  There are still reports of harvest sales from Vietnam as the new harvest is active.  There are reports of very good conditions in Brazil and a large crop is forecast.  Scattered showers are being reported now to improve tree condition in Brazil.  Mexico is in good condition, as is Central America.  Vietnam has scattered showers lately and conditions there are called good.  Vietnamese producers are selling new crop Coffee.

Weekly New York Arabica Coffee Futures

Weekly London Robusta Coffee Futures

 

Sugar:  New York and London were lower last week and trends are down on the daily and weekly charts.  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 with a rise in production in India and Thailand set to increase supplies especially for White Sugar while global demand is expected to remain steady at best.

Weekly New York World Raw Sugar Futures

Weekly London White Sugar Futures

 

Cocoa:   New York and London closed lower on speculative selling last week.  Short term trends are turning down 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

 

 

Futures and options trading involves substantial risk of loss and may not be suitable for everyone. The valuation of futures and options may fluctuate and as a result, clients may lose more than their original investment. In no event should the content of this website be construed as an express or implied promise, guarantee, or implication by or from The PRICE Futures Group, Inc. that you will profit or that losses can or will be limited whatsoever. Past performance is not indicative of future results. Information provided on this report is intended solely for informative purpose and is obtained from sources believed to be reliable. No guarantee of any kind is implied or possible where projections of future conditions are attempted.  The leverage created by trading on margin can work against you as well as for you, and losses can exceed your entire investment. Before opening an account and trading, you should seek advice from your advisors as appropriate to ensure that you understand the risks and can withstand the losses.

Questions? Ask Jack Scoville today at 312-264-4322