Sugar
- According to cash traders, bulk sugar offers for 2025-26 were steady for both beet and cane sugar over the last week, with minimal new crop bookings
- In its March World Agricultural Supply and Demand Estimates (WASDE) report, the USDA lowered its forecast of 2025-26 U.S. sugar production, raised imports, raised deliveries and lowered ending stocks, with an ending stocks-to-use ratio of 15.2%, compared to 15.9% in February and 19.9% in 2024-25
- According to Reuters, the sharp increase in energy prices as the war in the Middle East continues will drive Brazilian sugarcane processors to produce more ethanol and less sugar in the new season that will kick off in the coming weeks
- A recently released Reuters poll projected a global sugar deficit of 1.5 million metric tons for the 2026-27 crop year
Dry Beans
- Domestic dry bean end users have started to fill in some of their Q3 coverage, according to this week’s updates from cash dealers
- According to Agweek, historically high input costs combined with a dramatic drop in dry bean prices have resulted in one of the most difficult financial environments that growers of the crop have faced in more than a decade, according to a North Dakota State University Agricultural Risk Policy study
- The last round of USDA-posted weekly cash offers were 13-15% lower than last year’s levels for the spot position delivered to the warehouse for most dry bean varieties
Rice
- U.S. cash dealers report that domestic bookings of milled and industrial rice are complete through much of Q3
- Rice futures rose to their highest level in about a month this week, tracking broader gains in the grain markets
- Per the USDA, the outlook for 2025/26 U.S. rice this month is for lower supplies, unchanged domestic and residual use, reduced exports and steady ending stocks. Supplies are lowered on decreased imports (all long grain) as imports from Thailand, the leading origin, continue to lag last year’s record pace
Flour
- The wheat markets were higher this week
- On their weekly state update, Kansas reported their winter wheat crop at 56% good-to-excellent, down from 58% the prior week but still above 52% last year, and the best rating in 10 years for this time frame. Week-over-week crop conditions improved in Oklahoma and were mostly unchanged in Texas, according to their weekly state updates
- Current 14-day forecasts are drier for the U.S. southern plains states, according to analysts
- Statistics Canada estimated their 2026 all-wheat plantings at 26.738 million acres, above the average trade estimate of 26.4 million, but just slightly below the 27.032 million planted last year
- U.S. wheat prices are currently uncompetitive to non-captive destinations for export, according to analysts
- Recent strength in the corn and the soybean markets continues to help underpin wheat prices, according to analysts