Key Takeaways
- Agricultural commodities posted a mixed week in the period ending May 11: soybeans edged up 0.55% to 1,194.25 USd/bu, extending a strong 15.89% YTD gain, while wheat slipped 2.72% to 607.50 USd/bu and corn fell 2.56% to 456.25 USd/bu — both easing after recent advances but holding firmly positive on a year-to-date basis.
- Cocoa was the week's standout mover, surging 16.30% to $4,182/T on tight West African supply, though its YTD reading remains deeply negative at −31.05% and its year-over-year decline stands at −55.45%; tea spiked 16.39% to 199.66 INR/kg, while orange juice fell 3.22% and coffee dropped 4.05% to 274.80 USd/lbs.
- Rice jumped 8.69% on the week to $11.82/cwt, its largest single-week gain in the current tracking period, pushing YTD returns to 23.19%; cotton added 0.64% to 84.73 USd/lbs with an exceptional 31.83% YTD advance, and rubber gained 2.91% to 222.60 USd cents/kg.
- Oilseeds were broadly weaker: palm oil slipped 0.63% to 4,541 MYR/T, canola dipped 0.42% to 753.10 CAD/T, and rapeseed fell 3.17% to 511.25 EUR/T — though all three hold strong YTD gains of 12%–28%; butter rebounded 3.40% to EUR 4,050/T after five weeks of losses.
- Potatoes remained a structural outlier at EUR 18.50/100kg, with a 704.35% monthly gain and a 184.62% YTD advance, reflecting acute seasonal supply tightness in European markets entering the early-summer gap period.
Agricultural commodity markets turned mixed in the week ending May 11, with a handful of dramatic single-week moves — cocoa surging 16.30%, rice jumping 8.69%, and tea spiking 16.39% — running against broad softness in grains, oilseeds, and soft commodities. The macro backdrop remains shaped by the Strait of Hormuz closure and the May 10 U.S. rejection of Iranian peace talks, which continues to sustain elevated energy and freight costs across global agricultural supply chains. For a full breakdown of input cost dynamics, see the iGrowNews fertilizer prices weekly update and agriculture stocks performance tracker.
Agricultural Commodities — Grains: Mixed Week as Soybeans Hold, Wheat and Corn Ease
Soybeans edged up 0.55% to 1,194.25 USd/bu, holding a robust 15.89% YTD gain and a 13.55% year-over-year advance. Wheat slipped 2.72% on the week to 607.50 USd/bu but remains firmly positive on the year at +19.82% YTD and +16.44% YoY. Corn declined 2.56% to 456.25 USd/bu, trimming its YTD advance to a modest 3.63%. Oats fell 0.90% to 331.00 USd/bu, holding a 9.42% YTD gain despite the weekly dip.
Rice Posts the Week's Largest Grain Move
Rice surged 8.69% on the week to $11.82/cwt — its largest single-week gain in the current tracking period — pushing its monthly advance to 8.39% and its YTD return to 23.19%. The spike reflects tightening Asian export availability and strong import demand, though the year-over-year reading remains slightly negative at −4.72%, indicating the current price level has not yet recovered to year-ago levels.
