AGS WEEK AHEAD: Jobs Data in Focus, Farmers on Rain Watch

By Joe Stonor

A roundup of key agricultural commodity markets for the week of August 1-5 by Dow Jones Newswires in Barcelona.

GRAINS & OILSEEDS:

U.S. jobs data will dominate the high-level outlook for agricultural commodities this week. Job openings data Tuesday and the ADP employment survey Wednesday build up to Friday's employment report for July. Cooler-than-expected prints could support agricultural commodities, given lower interest rates are typically supportive of commodity prices.

Speculative traders raised their exposure to corn and soybeans last week, according to the Commodity Futures Trading Commission's weekly Commitments of Traders report.

Weather continues to be in focus for agricultural investors amid raging wildfires across Europe and the uncertain impact of El Nino.

Rains across the U.S. Corn Belt last week eased harvest pressures, which will likely weigh on prices for wheat, corn and soybeans, Peak Trading Research analysts wrote.

Cooler weather across the northern Plains of the U.S. this week will be accompanied by showers, while central and southern Plains remain dry.

Wheat futures rose 0.15% in Chicago to $6.40 a bushel in European afternoon trade Monday, though prices remained below levels hit last week. Corn futures slipped 0.5% to $4.62 a bushel. Soybean contracts slipped 0.65% to $11.80 a bushel.

SOFT COMMODITIES:

Cocoa trade continues to be volatile. Gains for New York and London contracts last week "came as a surprise to many market participants," HCCO analysts wrote. Divergent harvest expectations were splitting investors, with some anticipating El Nino disruption even as West African weather forecasts remained favorable, the analysts said.

Speculators were increasing their bets against cocoa, the Commitments of Traders report showed. New York cocoa jumped 6.5% Monday to $7,742 a metric ton--close to a three-week high.

Coffee contracts dropped sharply Monday, trading below the peaks reached last week of more than $3.46 a pound. New York futures fell 1.5% to $3.27 a pound.

Sugar contracts rose 1.2% to 14.83 cents a pound.

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

(END) Dow Jones Newswires

August 03, 2026 09:51 ET (13:51 GMT)