Global agricultural commodities witnessed sharp price swings as tea and cocoa recorded massive gains while coffee and orange juice remained under pressure. Cocoa prices jumped 10.73% in a single session and surged 38.14% monthly, making it one of the most volatile commodities in the market.
Tea prices also posted a huge 16.39% daily rise while rice, cotton and wheat continued to maintain strong yearly gains.
Cocoa and tea prices lead agricultural commodity rally
Cocoa prices witnessed one of the strongest rallies in the agricultural market. The commodity surged 448.67 points in a single session to reach 4630.67 USD/T.
Weekly gains stood at 19.72% while monthly growth crossed 38%. Despite the strong short-term rebound, cocoa prices were still down 50.23% yearly.
Tea prices also exploded higher with a massive 16.39% daily jump. Monthly gains reached 22.78% while year-to-date growth stood at 8.94%.
Analysts believe weather concerns and supply disruptions continue to drive volatility in agricultural commodities globally.
Wheat, rice and cotton prices maintain strong momentum
Wheat prices climbed 1.26% to 615.18 USd/Bu and posted yearly gains of 19.54%. Rice also continued its strong rally with prices rising 24.03% year to date.
Cotton prices remained firm despite a small daily decline of 0.11%. Monthly gains crossed 10% while yearly growth stood at 27.06%.
Soybean prices gained 0.69% during the session and maintained yearly growth of 12.40%.
Canola and rapeseed prices also remained positive on a yearly basis with gains of 7.76% and 7.20% respectively.
Coffee and orange juice prices continue to fall
Coffee prices remained under pressure as the commodity dropped 27.19% yearly. Monthly losses stood at 6% while year to date performance declined more than 20%.
Orange juice prices also continued to weaken with yearly losses crossing 21%.
Sugar prices gained 1.20% during the session but remained down 16.05% compared to last year.
Oat prices witnessed another sharp decline with a 2.95% daily drop and yearly losses of 7.29%.
Potatoes and wool record strong yearly gains
Potato prices remained one of the biggest gainers in the agricultural market with a massive 184.62% year to date surge and 34.06% yearly growth.
Wool prices also stayed strong with yearly gains crossing 58%.
Rubber prices climbed 0.76% lower during the session but still maintained strong yearly gains of 25.51%.
Corn prices moved slightly higher by 0.38% while palm oil and sunflower oil showed mixed performance.
The broader agricultural market continues to remain highly volatile as traders closely watch weather conditions, global supply chains, export demand and inflation trends across food commodities.