Agricultural prices increased 5.6% month on month in March, following February’s 0.2% rise.
In March, agricultural prices saw their sharpest monthly jump since September 2025, coming close to a one-year high. All but two of the commodities tracked by our panel traded higher month on month, as U.S.-Israel attacks on Iran wreaked havoc on global markets, causing spikes in energy, fertilizer, freight and insurance costs. In particular, diesel and fertilizer shortages due to the closure of the Strait of Hormuz upended farming operations and sparked concerns regarding crop plantings and harvesting, while higher oil prices have driven expectations of increased demand for biofuels derived from corn, soybeans, sugar and palm oil. Meanwhile, cocoa traded lower than in the prior month due to sluggish demand and improving supply, while rice prices eased amid oversupply and cooling demand.
This chart displays Wheat (US¢/bu) from 2024 to 2026.
Agricultural Historical Price Data
| Q1 2023 | Q2 2023 | Q3 2023 | Q4 2023 | Q1 2024 | Q2 2024 | Q3 2024 | Q4 2024 | Q1 2025 | Q2 2025 | Q3 2025 | Q4 2025 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Sugar ISA | - | - | - | - | - | 19.55 | 19.36 | 20.19 | 18.65 | 17.53 | 16.51 | 14.75 |
| Palm Oil | - | - | - | - | - | 1,037 | 1,082 | 1,353 | 1,475 | 1,303 | 1,334 | 1,310 |
| Rice | - | - | - | - | - | 620 | 589 | 520 | 455 | 420 | 383 | 380 |
| Cocoa ICCO | - | - | - | - | - | 8,657 | 6,803 | 8,285 | 9,558 | 8,521 | 7,324 | 5,800 |
| Coffee Arabica | - | - | - | - | - | 219 | 246 | 289 | 376 | 366 | 335 | 369 |
| Cotton ICE | - | - | - | - | - | 77.82 | 69.41 | 70.47 | 66.62 | 66.00 | 65.77 | 63.95 |
| Corn CBOT | - | - | - | - | - | 445 | 395 | 428 | 474 | 453 | 403 | 433 |
| Soybeans CBOT | - | - | - | - | - | 1,188 | 1,036 | 995 | 1,028 | 1,045 | 1,015 | 1,078 |
| Wheat CBOT | - | - | - | - | - | 611 | 551 | 562 | 558 | 537 | 525 | 523 |