21:05 - 7.09.2026

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September 7, Fineko/abc.az. Global agricultural commodity markets experienced sharp price spikes driven by severe weather patterns and Black Sea geopolitical frictions. Cocoa futures surged 25.5% last month to $6,771 per metric ton, extending its bullish run into a sixth consecutive month as supply risks in West Africa intensify.

Geopolitical disruptions to Black Sea grain shipments pushed Chicago Board of Trade (CBOT) futures significantly higher, with wheat up 21%, corn rising 16%, soybeans gaining 8.5%, and rice increasing 9.2%. On the Intercontinental Exchange (ICE), raw sugar jumped 21.5% and cotton climbed 13.9%, bolstered by rising crude oil prices that boosted ethanol demand.

Commodity analysts from Intesa Sanpaolo and Rabobank noted that extreme heat from the El Niño phenomenon, compounded by harsh Harmattan winds, threatens crop yields in top producers Ivory Coast and Ghana, dampening 2026/27 harvest expectations.