Dry Commodity Trends
January 9, 2026
Sugar
- According to cash traders, bulk sugar offers for 2025-26 were mostly steady to slightly lower for both beet and cane sugar over the last week, with only a few small volume trades reported
- The USDA has lowered its 2025/26 U.S. sugar supply and use estimates, but still reports higher ending stocks
- The International Sugar Organization forecasts that there will be a global sugar surplus of 1.63 million metric tons in the 2025/26 season, driven by a rise in production. The inter-governmental body, in a quarterly update, forecasted that production would rise by 3.15% to 181.77 million tons, with consumption up just 0.6% to 180.14 million tonsDry Beans
- Domestic dry bean end users have completed their coverage through Q3, and continue to assess Q4 offers, according to this week’s updates from cash dealers
- USDA weekly cash offers are currently 1% to 3% lower than last year’s levels for the spot position delivered to the warehouse for most dry bean varieties
Dry Beans
- Domestic dry bean end users have completed most of their Q1 coverage needs, and offers for Q2 are being assessed, according to this week’s updates from cash dealers
- In late 2025, U.S. dry bean prices faced pressure from international markets, while U.S. government purchases slowed, according to analysts
- The last round of USDA-posted weekly cash offers were 7-9% 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 Q1, as prices have started to rebound, and that Q2 offers are being assessed
- Statistics Indonesia expects a 32.5% yearly increase in rice output in the three-month period up to February 2026, with production reaching 6.23 million metric tons. The bureau also revised its 2025 rice production outlook down slightly to 34.71 million tons, compared with a previous projection of 34.79 million tons
- The spot rough rice futures contract has rebounded 10.8% from the low posted on December 18
Flour
- The wheat markets were higher this week
- The U.S. winter wheat crop is in its dormancy phase, with near- to below-normal precipitation forecast for the Northern Plains into early January, according to analysts
- U.S. weekly wheat export sales are still running approximately 18% ahead of year-ago levels, despite ample supplies in competing countries, per the USDA’s weekly inspection data
- According to Reuters, wheat production in Argentina for the 2025/26 season is expected to exceed the country's record wheat harvest of 22.2 million tons during the 2021/22 season by up to 25%
- Recent strength in the corn market has helped support wheat futures over the last week, according to analysts
Commodity Trends at Your Fingertips: Dive Into the Farmer's Report
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