A roundup of key agricultural markets for the week of Feb. 23–27 shows a mix of cautious optimism and persistent challenges across grains, oilseeds, and soft commodities, according to Dow Jones Newswires in Barcelona.

Grains & Oilseeds

U.S. Supreme Court rulings on President Trump’s tariff regime and the administration’s subsequent response continue to influence agricultural sentiment. Early-week pressure on U.S. equities — typically a bearish signal for commodities — may set the tone, though investors are awaiting Trump’s State of the Union address Tuesday for further trade policy guidance.

Corporate earnings reports from Nomad Foods, Vital Farms, and Hormel Foods later this week could also sway market expectations.

According to the Commodity Futures Trading Commission’s Commitments of Traders report, speculators increased net long positions in wheat and soybeans last week, marking four out of the past five weeks of net buying. Rabobank analysts attributed strength in wheat prices to weather concerns, robust U.S. export demand, and funds rolling short positions into May contracts.

• Wheat futures: up 0.1% to $5.81/bushel
• Corn futures: up 0.9% to $4.44/bushel
• Soybeans: up 0.65% to $11.61/bushel

The outlook for soybeans depends heavily on Chinese demand, with markets reopening Tuesday after Lunar New Year celebrations.

Soft Commodities

Cocoa, coffee, and sugar showed mixed performance:

• Cocoa futures rose 0.7% to $3,124/metric ton but remain far below recent highs of over $6,000/ton in January. Analysts cite rising stockpiles in Ivory Coast and weak demand outlooks, compounded by Ghanaian farmers’ liquidity issues, which have expanded global cocoa inventories. Despite this, Peak Trading Research notes that Monday marks the start of the historically most bullish 60-day season for cocoa prices, with the market considered cheap and oversold.
• Coffee futures fell 2.75% to $2.78/pound, pressured by global oversupply concerns.
• Sugar edged up 0.6% to 13.95 cents/pound, maintaining a modest upward trajectory.

Overall, grain markets are benefiting from fund activity and trade-related dynamics, while soft commodities continue to wrestle with structural oversupply and demand challenges.