AGS WEEK AHEAD: Weather Concerns Drive Prices Higher

By Joe Stonor

A roundup of key agricultural commodity markets for the week of July 6-10 by Dow Jones Newswires in Barcelona.

GRAINS & OILSEEDS:

Meeting minutes from the Federal Reserve's most recent rate-setting meeting will be released Wednesday, helping to shape investors' interest-rate expectations--and their forecasts for agricultural commodity prices.

U.S. jobs data last week eased rate-hike expectations, supporting agricultural commodities, which tend to trade at higher prices in lower interest rate environments.

The U.S. Department of Agriculture publishes its latest World Agricultural Supply and Demand Estimates on Friday, refreshing global estimates. The data is unlikely to move U.S. yield estimates, however, analysts at Peak Trading Research said.

Commodity Futures Trading Commission's weekly Commitments of Traders report will be released Monday, following a delay for the Independence Day weekend.

U.S. weather looks set to moderate after weekend heat, in what is a crucial period for corn pollination. Scattered rains are expected across the corn belt, though higher-than-normal temperatures contributed to a jump in grains prices.

Wheat futures rose 1.9% in Chicago to $6.11 a bushel in European afternoon trade Monday, while corn futures rose 3.5% to $4.57 a bushel. Soybean futures were 4% higher at $11.94 a bushel.

SOFT COMMODITIES:

Cocoa extended its bullish run, jumping 12% to $5,629 a metric ton--its highest level since January. West African weather risks are driving price movement, XTB analysts said, as an El Nino weather system takes hold.

"Cocoa is particularly vulnerable to prolonged dry weather, which can weaken trees, reduce pod formation and ultimately lower yields," the analysts said.

Coffee futures also jumped in New York, rising close to 10% to $3.31 a pound.

Sugar supply concerns helped the commodity gain last week, as investors grow concerned over Brazilian exports. New York futures rose 2.15% to 15.17 cents a pound.

Write to Joe Stonor at josephmichael.stonor@wsj.com

(END) Dow Jones Newswires

July 06, 2026 12:33 ET (16:33 GMT)