By Joe Hoppe

A roundup of key agricultural commodity markets for the week June 9-13 by Dow Jones Newswires in Barcelona.

GRAINS & OILSEEDS: The macro mood is mixed as market optimism for a potential U.S.-China trade deal rises, partially offset by a stronger dollar.

Market hopes for a trade deal have risen as the nations meet for talks on Monday. A reduction in tariffs would improve demand for corn and soybeans in particular. Crude oil has also pushed higher, in turn pulling up the Brazilian real--a crucial commodity currency--and inflation expectations, a boon for agricultural markets.

Friday saw the release of crucial U.S. jobs data. The data came in stronger-than-expected, pushing up the dollar--a headwind for dollar-denominated commodities. Market attention now turns to Wednesday's Consumer Price Index report, the Federal Reserve's preferred inflation metric.

U.S. corn belt weather forecasts show above normal temperatures with scattered rains, ideal weather for early crop development, Peak Trading analysts say in a note. That said, there are increasing concerns about dryness in the western corn belt, they added.

June is the most bearish month of the year for agricultural markets, with corn futures falling during the month for the last 12 years, Peak Trading noted.

Chicago wheat futures are down 1.9% at $5.44 a bushel on Monday, while corn is down 1.2% on $4.37 a bushel. Soybean prices are up 0.1% at $10.58 a bushel.

SOFT COMMODITIES: Agricultural softs have had a mixed performance over the last week of trading, with cocoa and particularly coffee gaining and sugar seeing some losses.

Sugar sits 6.2% lower on month, spurred by optimistic projections for an enhanced global supply outlook, BMI analysts say in a note. Initial estimates for the upcoming harvest suggest a significant Indian sugar output increase, while Brazil is expected to accelerate production given a recent period of reduced rainfall, BMI says.

Cocoa is up 3.6% on-month in thin trading, with sentiment fueled by concerns over weather conditions in West Africa.

Coffee prices meanwhile gained 5.1% over the past week alone, though they remain down 6.6% on month. The latest rally reflects a decline in stockpiles, with the most recent data showing total stocks at U.S. port warehouses monitored by the International Commodities Exchange declining to the lowest level since May 1, ING analysts said in a note.

On Monday, cocoa is up 0.7% at $9,526.0 a metric ton, while coffee is up 1.3% at $3.63 a pound. Sugar is up 1.3% at $0.17 a pound.

Write to Joe Hoppe at joseph.hoppe@wsj.com

(END) Dow Jones Newswires

June 09, 2025 12:31 ET (16:31 GMT)

Copyright (c) 2025 Dow Jones & Company, Inc.