Agricultural Commodities Weekly Update: Wheat, Rice and Rubber Advance as Cocoa Extends Decline

Key Takeaways

• Wheat (+4.18%), rice (+4.11%), corn (+2.23%), and soybeans (+1.97%) led gains among major grains, while oats (-8.88%) declined sharply among agricultural commodities.
• Oilseeds were mixed, with canola (+1.30%) and sunflower oil (+0.12%) higher, while palm oil (-1.22%) and rapeseed (-0.06%) edged lower.
• Cocoa (-6.61%) extended its year-to-date loss to -52.22%, while orange juice (+8.16%) rebounded strongly.
• Cheese (+5.33%) led dairy gains, while milk (-0.53%) softened and butter (+1.65%) edged higher.
• Rubber (+6.28%) advanced among industrial-linked commodities, while lumber (-3.46%) declined.

Agricultural Commodities: Weekly Performance Overview (February 23 – March 2, 2026)

Agricultural commodities delivered mixed but broadly firmer results during the week of February 23 to March 2, 2026. Strength was concentrated in grains, dairy, and rubber, while cocoa and select oilseeds remained under pressure.

Grains Strengthen as Wheat and Rice Lead Among Agricultural Commodities

Wheat rose +4.18% to 593.59 USd/Bu, extending its year-to-date gain to +17.03% and posting a +11.53% year-over-year increase.

Rice climbed +4.11% for the week, bringing its year-to-date performance to +8.34%, though it remains down -22.11% year over year.

Corn gained +2.23%, narrowing its year-to-date decline to -0.73%. Soybeans advanced +1.97%, lifting year-to-date gains to +12.23% and year-over-year growth to +15.86%.

In contrast, oats declined -8.88% on the week and remain slightly negative year to date (-0.82%). Barley was unchanged.

Oilseeds Mixed as Canola Outperforms

Canola rose +1.30%, pushing year-to-date gains to +18.42%. Sunflower oil edged up +0.12% on the week and is up +6.44% year to date.

Palm oil declined -1.22%, remaining nearly flat year to date (-0.10%) and down -10.27% year over year. Rapeseed slipped -0.06%, though it maintains +8.10% year-to-date growth.

Soft Commodities Diverge

Cocoa fell -6.61% during the week, extending its year-to-date loss to -52.22% and year-over-year decline to -63.29%.

Orange juice rebounded +8.16%, although it remains down -12.76% year to date and -41.97% year over year. Coffee rose +0.72% but continues to show a -19.70% year-to-date decline.

Sugar declined -0.57%, while cotton was nearly flat at -0.03%. Tea gained +1.37%.

Dairy and Industrial Commodities Mixed

Cheese advanced +5.33%, lifting year-to-date gains to +16.09%. Butter rose +1.65% on the week, though it remains down -36.47% year over year. Milk declined -0.53%, extending its year-to-date drop to -1.84%.

Rubber increased +6.28%, bringing year-to-date gains to +13.84%. Lumber declined -3.46% and remains down -12.07% year over year. Wool rose +1.36%, with strong year-over-year growth of +43.60%. Potatoes were unchanged on the week but remain down -52.31% year to date.

Comparative Weekly Performance Summary – Agricultural Commodities (Feb 23 – March 2, 2026)

Overall, agricultural commodities closed the week with firm gains in major grains and rubber, stabilization across most oilseeds, and continued pressure in cocoa despite rebounds in selected soft commodities.