All Eyes on Prospective Planting and Grain Stocks Reports

By Joe Stonor

A roundup of key agricultural commodity markets for the week of March 30-April 3 by Dow Jones Newswires in Barcelona.

GRAINS & OILSEEDS:

Headlines on the Middle East will continue to drive swings in agricultural commodities, though macroeconomic signals will also have the potential to move markets.

The U.S. Department of Agriculture releases Prospective Plantings and Grain Stocks reports Tuesday, giving traders a read on the U.S. supply outlook.

Meanwhile, U.S. nonfarm payrolls data for March due Friday will help set the macroeconomic mood, with agricultural commodity prices typically rising as the Federal Reserve policy rate falls, all else equal.

A weaker jobs print would put downward pressure on the dollar and boost dollar-denominated commodity prices, analysts at Peak Trading Research said.

Agricultural markets will be closed Friday, before returning Monday, April 6.

Institutional investors bought into agricultural commodities in the week to March 24, according to the Commodity Futures Trading Commission's weekly Commitments of Traders report.

Soybean prices gained on week, supported by resilient livestock demand and tighter nearby availability, analysts at Rabobank said. The Trump administration's decision to raise U.S. biofuel blending mandates could also increase the amount of soybeans diverted to biomass-based diesel production.

U.S. planting season ramps up as the country faces higher risk of thunderstorms and heavy rain. Drier weather in Brazil through March could weigh on the country's corn production, though South American weather won't have a significant bearing on prices this late in the growing season, Peak Trading Research said.

Wheat futures nudged up 0.2% in Chicago to $6.06 a bushel in European afternoon trade Monday, while corn futures were 1% lower at $4.58 a bushel. Soybeans were up 0.6% to $11.66 a bushel.

SOFT COMMODITIES:

Sugar prices were up around 16% since the end of last month as higher oil prices push some farmers to put sugar cane harvest toward ethanol production.

Prices have also been supported by tighter near-term supply, analysts at ING said, though the commodity pared some gains Monday as New York sugar fell by 2.7% from intraday highs to 15.65 cents a pound.

Cocoa prices were flat Monday in New York at $3,164 a metric ton. Prices are down by over 3% on week as buyers ration their demand and optimism over supply from West African farmers grew, analysts at Rabobank said.

Coffee contracts slipped 2.6% to $2.93 a pound in New York.

Write to Joe Stonor at [e-mail]

(END) Dow Jones Newswires

03-30-26 1251ET