Weekly Ag Markets Update – 05/26/2026

Wheat:  Wheat closed higher in Chicago but lower in Kansas City last week on forecasts and reports for improving weather in Wheat areas and as the stalemate continues in the Iran war.  The crop condition ratings are now the lowest in over 30 years in HRW areas and have provided support for prices in KC.  USDA showed deteriorating crop conditions last week.  Conditions are too dry in much of the US Great Plains but have been improving with scattered showers now appearing in the region.   Conditions remain wet in the US Midwest and in western Europe for best quality potential.  The weather is now featuring precipitation for parts of the Midwest along with variable temperatures.  The strait of Hormuz remains closed.

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 demand ideas and despite strong planting and emergence progress in reports released by USDA and on forecasts for improved growing conditions in the Midwest.  Planting has been very active in all of the Midwest and is now over half done.  It looks drier this week, but not completely dry.  Temperatures in the Midwest should be variable for the next week.  Conditions are called good in Argentina and big production is expected there.  The export sales report was positive.  Oats were lower and trends are down on the daily and weekly charts.

Weekly Corn Futures

Weekly Oats Futures

 

Soybeans and Soybean Meal:  Soybeans and Soybean Oil were higher last week and Soybean Meal was lower on rapid planting progress shown by USDA and on forecasts for improving conditions.  Futures were also lower on the lack of news on China and Iran.  Temperatures have been cool in the Midwest but planting is ahead of normal and temperatures will turn to near normal over the weekend.  Near normal temperatures are expected for the next week.  There is talk that more Soybeans could be planted if the weather does not improve for Corn planting soon.  The big South American harvests are also weighing on prices.  Big South American crops are being harvested, and ideas are that Chinese buying could be interrupted due to the Iran war and new import rules imposed by China.  South American sources said that the Brazil crops are now harvested.  The tariff wars between the US and other countries add to cost of US Soybeans.

Weekly Chicago Soybeans Futures

Weekly Chicago Soybean Meal Futures

 

Rice:  Rice closed higher again las week and at the highest level since last July in reaction to ideas of sharply reduced planted and harvested area in the US.  Production was cut back mostly due to reduced planted and harvested area.  Yields were actually held high in the USDA estimates.  Traders anticipate less production this year in the US and around the world due to low prices.  USDA said that Rice planted area would be about 12% less in the coming year.  Planting and emergence are ahead of average and condition is rated high.  Demand remains moderate for US Rice and export demand was improved last week.

Weekly Chicago Rice Futures

 

Vegetable Oils: Palm Oil was lower last week and  Canola was also lower. s.

Weekly Malaysian Palm Oil Futures

Weekly Chicago Soybean Oil Futures

Weekly Canola Futures

 

Cotton:  Cotton was sharply lower last week and could have left a spike high on the weekly charts.  USDA showed that planting progress was running ahead of normal last week and the weather has improved with increased precipitation.  Forecasts and reports of just isolated to scattered showers in Cotton areas continue.  Temperatures will be variable.  Trends are mixed to down on the daily and weekly charts.

Weekly US Cotton Futures

 

Frozen Concentrated Orange Juice and Citrus:  Futures were lower last week and trends are still mixed on the weekly charts but could be turning up on the daily 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 Mexico but it is dry in Brazil.  Scattered showers are still reported in eastern Brazil.

Weekly FCOJ Futures

 

Coffee:  New York and London were lower last week and New York gapped lower on the weekly charts.  The next crop is developing in South America and Asia amid good conditions.  There are still ideas of good supplies available.  World production conditions are generally good.  Mostly dry conditions are being reported now in Brazil.  Mexico is in good condition, as Central America.  Vietnam has had drier weather and conditions there are called good.  Some showers are starting to appear there.   CONAB said last week that Brazil production iis now estimated at 66.7 million bags, up 18% from the previous crop.  Arabica production could be 34.8 million bags and Robusta production is estimated at 20.9 million bags.

Weekly New York Arabica Coffee Futures

Weekly London Robusta Coffee Futures

 

Sugar:  New York was higher again last week, but London was lower.  The Iran war drags on and the strait of Hormuz remains closed.  The war has increased world petroleum prices and could divert demand from Sugar production to production of ethanol.  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 have been good for the harvest.

Weekly New York World Raw Sugar Futures

Weekly London White Sugar Futures

 

Cocoa:   Both markets were lower last week.  Daily trends are mixed to 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.

Weekly New York Cocoa Futures

Weekly London Cocoa Futures

 

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