Global agricultural commodity prices showed mixed but active movement in the latest trading session. Wheat posted one of the strongest daily gains. Soybeans and palm oil also moved higher. Some commodities like coffee and sugar slipped during the session.
Soybeans are currently trading at 1187.94 US cents per bushel after a daily rise of 0.63 percent. Wheat surged sharply to 590.37 US cents per bushel with a strong 5.75 percent daily jump.
The broader agricultural market shows steady yearly growth for several major commodities even as some products remain under pressure.
Wheat price today jumps 5.75 percent while soybeans rise to 1187.94
Wheat recorded the biggest daily move among major grains. The commodity climbed by 32.11 points to reach 590.37 US cents per bushel. Weekly gains stand at 3.78 percent while monthly growth has reached 10.54 percent.
Since the start of the year wheat prices have risen 17.13 percent. The yearly increase stands at 9.77 percent.
Soybeans also posted gains in the latest session. Prices increased by 7.44 points to 1187.94 US cents per bushel. Weekly growth stands at 2.38 percent and monthly gains are at 5.27 percent.
Soybean prices have climbed 14.82 percent since the start of the year. The yearly rise currently stands at 17.01 percent.
Corn showed a small decline. Corn is now trading at 434.1643 US cents per bushel after a daily drop of 0.82 percent. Year to date performance remains slightly negative at 1.16 percent.
Palm oil price climbs 4.41 percent as Canola and Sunflower oil rise
Vegetable oil markets also moved higher. Palm oil is trading at 4568 MYR per ton after a strong daily increase of 4.41 percent. Weekly gains stand at 8.92 percent while monthly growth has reached 11.50 percent.
Palm oil prices are up 12.79 percent this year. The yearly growth stands at 1.47 percent.
Canola is priced at 722.87 CAD per ton. Despite a small daily drop of 0.49 percent the commodity has gained 22.89 percent since the start of the year. Yearly growth is even higher at 25.56 percent.
Sunflower oil prices are also rising. The commodity is currently trading at 1625.60 INR per 10 kilograms after a daily increase of 1.82 percent. Year to date gains stand at 12.72 percent while yearly growth is 19.85 percent.
Rapeseed prices stand at 509.23 EUR per ton with yearly growth of 6.46 percent.
Coffee price drops while cocoa and orange juice show mixed trends
Coffee prices declined in the latest session. Coffee is now trading at 293.45 US cents per pound after a daily drop of 1.21 percent. The commodity has fallen 15.76 percent since the start of the year and is down 26.04 percent compared to last year.
Cocoa moved in the opposite direction during the session. Cocoa is priced at 3334.70 USD per ton after a daily increase of 1.39 percent. However the broader trend remains negative with prices down 45.31 percent this year and 59.31 percent year on year.
Orange juice also moved higher. The commodity is trading at 187.77 US cents per pound after rising 3.85 percent in the session.
Other agricultural commodities showed smaller movements. Cotton stands at 65.137 US cents per pound while rice trades at 10.7408 USD per hundredweight after a 2.49 percent daily drop.
Milk is priced at 16.45 USD per hundredweight after a 0.18 percent rise. Rubber stands at 197.20 US cents per kilogram with a daily gain of 0.77 percent.
Lumber prices are at 559.56 USD per 1000 board feet while wool is trading at 1767 AUD per 100 kilograms with strong yearly growth of 44.24 percent.
Overall the agricultural market remains mixed. Grains and vegetable oils are showing steady gains while beverages like coffee and cocoa continue to face pressure in the global commodities market.