Agricultural markets diverge as cocoa tumbles while soybeans hold firm
đŸ Agricultural markets showed mixed performance during the week of September 14â18, with U.S. soybeans still posting a weekly gain while corn and wheat came under pressure from faster harvest progress and fund positioning adjustments.
đ± Soybeans continued to receive support from Chinese demand, with around 1 million tonnes of U.S. supplies purchased during the week and another 111,000 tonnes reported by the USDA on September 18. Despite a pullback in the final session, the market continues to benefit from the seasonal window before Brazilâs new crop becomes available.
đœ Corn faced pressure as the U.S. harvest reached around 8% of planted area, ahead of the five-year average. Wheat remained weaker as funds reduced exposure while competitively priced Black Sea supplies continued to limit the marketâs response to slower exports from Russia and Ukraine.
đ« Cocoa recorded the sharpest move, with the ICE December contract falling 7.7% in the final session to around $5,330 per tonne. Alongside technical pressure, financial strains within Ghanaâs cocoa purchasing chain continue to add uncertainty to the market.
â Coffee also had a weak week as favorable Brazilian weather and an improving crop outlook weighed on prices before a late-week rebound. Sugar remained under pressure near multi-week lows as weaker crude oil reduced the incentive to divert more cane toward ethanol production.
đŽ Malaysian palm oil declined on Friday but still gained around 1.7% for the week. Going into the new week, markets will continue to watch U.S. harvest progress, Chinese soybean demand, Brazilian weather conditions, and Black Sea supply developments.
#Agriculture
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đŸ Agricultural markets showed mixed performance during the week of September 14â18, with U.S. soybeans still posting a weekly gain while corn and wheat came under pressure from faster harvest progress and fund positioning adjustments.
đ± Soybeans continued to receive support from Chinese demand, with around 1 million tonnes of U.S. supplies purchased during the week and another 111,000 tonnes reported by the USDA on September 18. Despite a pullback in the final session, the market continues to benefit from the seasonal window before Brazilâs new crop becomes available.
đœ Corn faced pressure as the U.S. harvest reached around 8% of planted area, ahead of the five-year average. Wheat remained weaker as funds reduced exposure while competitively priced Black Sea supplies continued to limit the marketâs response to slower exports from Russia and Ukraine.
đ« Cocoa recorded the sharpest move, with the ICE December contract falling 7.7% in the final session to around $5,330 per tonne. Alongside technical pressure, financial strains within Ghanaâs cocoa purchasing chain continue to add uncertainty to the market.
â Coffee also had a weak week as favorable Brazilian weather and an improving crop outlook weighed on prices before a late-week rebound. Sugar remained under pressure near multi-week lows as weaker crude oil reduced the incentive to divert more cane toward ethanol production.
đŽ Malaysian palm oil declined on Friday but still gained around 1.7% for the week. Going into the new week, markets will continue to watch U.S. harvest progress, Chinese soybean demand, Brazilian weather conditions, and Black Sea supply developments.
#Agriculture
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