Global animal feed market overview on July 2, 2026

The global animal feed ingredients market on July 2, 2026 continued to record a recovery trend across major CBOT commodities. Corn, wheat, soybeans and soybean meal all moved higher in the latest session, supported by USDA data, renewed demand expectations and short-covering activity. However, vegetable oils and crude oil remained under pressure, while freight indicators showed mixed movements.

CBOT corn prices continued to rise

CBOT corn prices increased across key contracts. The September 2026 contract closed at 166.4 USD/ton, up 2.4 USD/ton. The December 2026 contract reached 174.1 USD/ton, also up 2.4 USD/ton, while the March 2027 contract rose to 180.1 USD/ton, up 2.6 USD/ton.

The recovery was supported by USDA estimates showing lower-than-expected U.S. corn planted area and stronger market sentiment ahead of the U.S. Independence Day holiday. However, the market is still monitoring South American supply, especially Brazil’s corn production outlook.

Wheat prices strengthened further

CBOT soft red winter wheat also posted strong gains. The September 2026 contract reached 220.5 USD/ton, up 4.0 USD/ton. The December 2026 contract increased to 225.8 USD/ton, up 3.7 USD/ton, while the March 2027 contract rose to 230.4 USD/ton, up 3.2 USD/ton.

Wheat prices were supported by lower U.S. planted area estimates and concerns over crop conditions in major producing regions. Short-covering by commodity funds also helped strengthen wheat futures.

Soybeans and soybean meal moved higher

CBOT soybeans continued to recover. The August 2026 soybean contract closed at 416.4 USD/ton, up 3.3 USD/ton. The September 2026 contract reached 417.2 USD/ton, up 2.5 USD/ton, while the November 2026 contract rose to 422.3 USD/ton, up 2.1 USD/ton.

Soybean meal prices also increased. The August 2026 soybean meal contract reached 336.6 USD/ton, up 1.5 USD/ton. The September contract stood at 334.6 USD/ton, up 1.8 USD/ton, while the October contract reached 332.7 USD/ton, up 1.9 USD/ton.

Vegetable oils remained under pressure

Unlike grains and oilseeds, vegetable oils showed weaker movements. CBOT soybean oil for August 2026 fell to 1,468.9 USD/ton, down 5.3 USD/ton. The September contract also declined to 1,460.6 USD/ton, down 2.9 USD/ton, while the October contract edged up slightly to 1,449.8 USD/ton.

Palm oil prices also weakened. Bursa Malaysia palm oil for September 2026 stood at 1,111.5 USD/ton, down 3.5 USD/ton. Dalian RBD palm oil fell to 1,340.2 USD/ton, down 9.4 USD/ton. The decline was linked to weaker crude oil prices and cautious demand expectations.

Freight and energy indicators

The Baltic Dry Index rose to 2,562 points, up 61 points, showing improvement in dry bulk shipping sentiment. Meanwhile, the Drewry World Container Index remained unchanged at 4,166 USD per 40-foot container. WTI crude oil declined to 68.6 USD/barrel, down 0.9 USD/barrel.

Short-term outlook

In the short term, global feed ingredient prices may remain volatile. CBOT corn, wheat and soybeans could stay supported by USDA data and short-covering activity. However, vegetable oils may continue to face pressure if crude oil prices remain weak and palm oil demand does not improve significantly.

Source: Compiled from VnFeedNews, CBOT, Dalian Commodity Exchange, Bursa Malaysia, NYMEX, ICE and Drewry.