AGS WEEK AHEAD: Signs of Easing U.S.-China Trade Tensions Boost Sentiment

By Giulia Petroni

A roundup of key agricultural commodity markets for the week of Oct. 27-31 by Dow Jones Newswires in Barcelona.

GRAINS & OILSEEDS: The broader macroeconomic mood is bullish across markets, with investors optimistic ahead of the Federal Reserve's policy decision on Wednesday and a meeting between President Trump and Chinese leader Xi Jinping in South Korea.

Soybeans have risen more than 2% on Monday following positive developments in trade talks between the U.S. and China. Trump said he would press China to resume purchases of U.S. soybeans after Beijing pulled back on its purchases, badly squeezing American farmers.

"Chinese buying would offer relief to U.S. farmers, given that it's historically been the largest buyer of U.S. soybeans, accounting for 45% of total U.S. soybean exports in 2024/25," analysts at ING said.

Meanwhile, Friday's Commitments of Traders data from the U.S. Commodity Futures Trading Commission will be delayed until when the federal government reopens.

Weather conditions in the U.S. are cool and dry, providing an ideal environment to complete harvests. The soybean harvest is essentially finished, with focus now shifting to the final stages of corn harvesting, according to Peak Trading Research analysts. In South America, weather patterns are also favorable, with widespread showers in Brazil expected to support early-planted crops.

On Monday, Chicago wheat futures rose 3% to $5.28 a bushel, while corn was up 1.4% to $4.29 a bushel. Soybean prices rose 2.4% to $10.86 a bushel.

SOFT COMMODITIES: Cocoa futures fell 2% to $6,191 a metric ton on Monday, pressured by expectations of a global supply surplus amid favorable harvests across West Africa and subdued demand.

Coffee prices slid 2.5% to $3.93 a pound, with recent estimates from the Vietnam Coffee and Cocoa Association showing that Vietnam coffee output is expected to rise 10% on year in the 2025/26 season, according to ING.

"The weather has been favorable, while rising prices have encouraged farmers to invest more in crops to achieve higher yields," analysts at the firm said. Last week, futures spiked after Trump threatened to impose tariffs on Colombia, a major exporter of coffee.

Sugar is down 3.3% to 14 cents a pound.

Write to Giulia Petroni at giulia.petroni@wsj.com

(END) Dow Jones Newswires

October 27, 2025 12:29 ET (16:29 GMT)