Sugar
- U.S. cash traders reported that bulk sugar price offers for the 2026-27 crop remain firm for both beet and cane sugar this week
- According to Farm Progress, more than 110 members of Congress are urging the U.S. Trade Representative to investigate Tier Two sugar imports, which allow sugar to enter the country above established quota levels. These imports jumped more than 700% between fiscal years 2021 and 2025, leaving domestic producers struggling to compete
- The recent decline in crude oil prices reduces incentives for larger global sugar mills to divert sugarcane into ethanol production, potentially increasing sugar supply for food use, according to analysts
- According to Trading Economics, the International Sugar Organization (ISO) raised its estimate of the 2025/26 global surplus, projecting record production of 182 million tons, up 3.5% from the previous season, and a surplus of 2.2 million tons versus a prior forecast of 1.22 million, reversing a 3.46 million-ton deficit in 2024/25
Dry Beans
- Domestic dry bean end users have completed their Q3 coverage needs and continue to assess Q4 offers, according to this week’s updates from cash dealers
- According to Stat Publishing, as of May 26, farmers have planted an estimated 27% of this year's intended area, down from 46% last year and the recent average of 40%
- The latest round of USDA-posted weekly cash offers were 11%-13% 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 currently complete through Q3, with end users continuing to assess offers for Q4
- According to the USDA’s Rice Outlook released May 14, the 2026/27 U.S. rice crop is forecast at 175.2 million cwt., down more than 31 million cwt. and 15% from the prior year’s production
- Since the end of February, spot rice futures have rallied nearly 24%, to their highest levels since August 2025
- According to TradingView, rice supply pressures are being amplified by soaring fertilizer and fuel costs linked to the Iran conflict, while an emerging El Niño is expected to bring hotter, drier conditions and further strain key producing regions of Southeast Asia
Flour
- The wheat markets were lower this week, with the spot Kansas City futures now down 11% since May 13
- Per the USDA’s May 2026 Wheat Outlook, U.S. wheat ending stocks in 2026/27 are projected to fall 18% from 2025/26, and winter wheat production is forecast to be the smallest since 1965/66, due to declining area and significant, widespread drought
- According to the weekly Crop Conditions Report released by the USDA on May 25, the winter wheat crop is rated a record low of 26% good-to-excellent, down from 27% the prior week, and below the 50% rating at this time last year
- The USDA also reported that the U.S. spring wheat crop was 86% planted, up from 73% the previous week, and above the five-year average of 79%
- U.S. wheat prices remain very uncompetitive to non-captive destinations for export, according to analysts