Weekly Ag Markets Update – 10/05/2026

Wheat: Wheat was lower in both markets last week in part on bearish news from the USDA production report and in part froom improved precipitation in the southern Great Plains.  The small grains production report showed stronger than expected production but the quarterly stocks report came in line with trade expectations implying better than expected demand.  Production was estimated at 1.533 billion bushels for All Wheat, above trade estimates of 1.527 billion.  The quarterly stocks estimates were in line with trade estimates at 1.845 billion bushels.  Both sides in the Russia-Ukraine war have reported an export pace more than 50% less than a year ago.  The US Winter Wheat planting is 27% complete.  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 get big rains in southern areas.

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 last week on selling tied to the quarterly stocks report that showed higher than expected stocks at 2.095 billion bushels and on harvest progress.  Trends turned down on the weekly charts.  There is moderating weather in the western and southern Midwest with a lot of rain in the forecast  mostly in the west this week.  Harvest has been active in some areas of the Midwest with good but not great yields being reported.  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 18% complete  Temperatures in the Midwest should be cooler this week amid mostly dry weather.  Big rains are likely in the south.  Oats were lower.   The harvest is complete.

Weekly Corn Futures

 Weekly Oats Futures

 

Soybeans and Soybean Meal:  Soybeans and Soybean Meal were lower last week as the quarterly stocks report was considered positive for prices but Soybean Oil was higher.  Stocks were estimated at 315 billion bushels.  The export sales were considered strong.  China is expected to buy more cargoes of US Soybeans before the US-China summit meetings in the coming weeks but the tariffs will remain high.  The harvest is now 17% complete.  Rain is expected this week in the south and cool and dry weather is likely in the north.  Condition is below a year ago and slightly improved from the previous week.  Cooler temperatures 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 lower last 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 80% 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 mixed 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 a little lower last week on harvest progress.  The weather is expected to feature somewhat cooler temperatures and rains, especially in West Texas.  The rains could create some quality issues with open bolls.  The weekly export sales report showed strong demand.  USDA last week showed that conditions are now 48% good to excellent.  Progress is above average with the crop now 15% harvested and 67% opening bolls.  Forecasts and reports of showers in Cotton areas continue for the Delts, and the Southeast.  Temperatures will be warm in all areas.

Weekly US Cotton Futures

 

Frozen Concentrated Orange Juice and Citrus: Futures were lower last week.  Price trends started to turn down on the weekly charts.  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 as the rainy season is starting on time.

Weekly FCOJ Futures

 

Coffee:  New York and London were both higher last week as Brail crops are looking better with good weather and with  improving rans but as producers held back on sales due to recent price weakness.  Trends are up 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 and the wet season is starting on time.  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 was sharply higher on higher last week but New York closed slightly lower.  Trends are up in botxh markets.  Drought in Brazil was a major concern but rains have returned to center-south regions.  Refineries 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 both higher last week.  Trends are turning up and the daily charts display a bottoming formation.  A big main crop harvest has arrived in West Africa but it has now turned dry for the next crop.  Dry conditions in Ivory Coast have created concerns about the prospects for 2026/27 production, although a large global surplus in 2025/26 has ensured that short-term supplies remain ample.  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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