Grains, oilseeds, sugar and vegetable oils are the most politically sensitive commodities in world trade. Weather in the Americas, shipping through the Black Sea, biofuel mandates in Indonesia and Brazil, and export restrictions in India and Russia can move prices faster than demand. This desk follows the futures that set the reference and the origin premiums that decide the deal.
Physical price screening
| Commodity | Price / range | Basis | vs 1M | vs Jan 26 | vs Aug 25 |
|---|---|---|---|---|---|
| Wheat CBOT | 662.3US c/bu | US / global benchmark | −2.3% | Up | +30.8% |
| Black Sea milling wheat | ~$230–265$/MT | FOB / EU substitute | Volatile / up | Up | Up |
| Corn CBOT | 451.6US c/bu | CBOT | +0.9% | Up | +17.7% |
| Feed wheat | ~$215–260$/MT | Black Sea / EU | Up risk | Mixed | Up |
| Barley | ~$200–255$/MT | EU / Black Sea | Firm | Mixed | Mixed |
| Soybeans CBOT | 1,174.8US c/bu | CBOT | −2.3% | Up | +14.9% |
| Palm oil | MYR 4,724MYR/MT | Malaysia | +3.3% | ~+18% YTD | +7.2% |
| Sunflower oil | ~$1,080–1,300$/MT | Black Sea / EU | Firm / volatile | Up | Up |
| Soybean oil | ~$1,030–1,200$/MT | Americas | Firm | Up | Up |
| Raw sugar | 16.82US c/lb | ICE-style benchmark | +13.0% | Up | +1.5% |
| Sugar ICUMSA 45 | ~$450–520$/MT | Brazil FOB indicative | Up | Up | Near stable |
| Cocoa | $5,719$/MT | Global benchmark | −1.5% | Down | −30.5% |
| Cotton lint | 83.47US c/lb | Global / US | +2.4% | Up | +26.6% |
| Cotton yarn | ~$2,600–3,600$/MT | India / Pakistan / Türkiye | Firm | Mixed | Up |
| Cumin | ~INR 185INR/kg | India wholesale | ~ −3% | Down | ~Stable |
| EVOO bulk Spain | ~€3,300–4,000EUR/MT | Spain ex-mill | Stable–down | Down | Down |
| Turkish olive oil | ~€3,700–4,600EUR/MT | Türkiye bulk | Stable | Down | Down |
| Pistachios | ~$7,500–10,500$/MT | Türkiye / Iran / US | Stable–up | Up | Up |
| Mixed premium nuts | ~$4,000–8,500$/MT | Global | Stable | Mixed | Mixed |
Market structure
The United States, Brazil, Argentina, the Black Sea, the European Union, Canada and Australia supply most traded grain and oilseeds. Indonesia and Malaysia produce most of the world's palm oil; Brazil leads in sugar, soybeans and coffee; Côte d'Ivoire and Ghana in cocoa; Vietnam in robusta. China dominates soybean imports, while Egypt, Algeria, Indonesia and the Gulf are the largest wheat buyers and India the largest importer of edible oils.
Price formation
CBOT futures set the reference for wheat, corn and soybeans; ICE for raw sugar (No. 11), white sugar (No. 5), coffee, cocoa and cotton; Bursa Malaysia for palm oil. Physical cargoes trade at origin premiums or discounts to these benchmarks, adjusted for freight, quality and season. State tenders in Egypt, Algeria, Saudi Arabia, Jordan and Bangladesh provide transparent price points for importing markets.
Trade mechanics
Most contracts follow GAFTA forms for grains, feed and pulses, FOSFA forms for oils and oilseeds, and the sugar associations' rules. Panamax and Supramax vessels carry 25,000–65,000 tonnes; containers and flexitanks carry smaller lots. Phytosanitary, health, fumigation, origin and quality certificates are standard, and the EU Deforestation Regulation now requires traceability for cocoa, coffee, soy and palm oil.
Desk coverage
| Product | Grades and markets | Unit |
|---|---|---|
| Wheat and flour | Milling and feed wheat; Black Sea, EU, US, Australia, Argentina | $/MT, c/bu |
| Corn, barley, rice | Feed and food grains | $/MT, c/bu |
| Soybeans and meal | Brazil, US and Argentina | $/MT, c/bu |
| Sugar | Raw VHP, white ICUMSA 45, beet sugar | c/lb, $/MT |
| Edible oils | Palm, sunflower, soybean, rapeseed, olive oil | $/MT |
| Pulses | Beans, lentils, chickpeas, peas, mung | $/MT |
| Coffee, cocoa, nuts, dried fruit | Robusta, arabica, cocoa beans, hazelnuts, pistachios, apricots | $/MT, c/lb |
TradeScout24 Insights · Market overview · Live data via TradingView; screening from the Weekly Market Monitor (14 August 2026) · Last reviewed 31 Oct 2026