The week from 15 to 21 September 2026 brought a very mixed picture. The ECB EUR/USD exchange rate weakened to 1.1460 (18.9.) from 1.1592 a week earlier, which is a -1.1% weakening of the euro and automatic upward pressure on all USD commodities when converted. Despite this, we are seeing major opposing moves: cocoa is deepening its decline for a second week, while sunflower oil continues to rise. Sugar continues to fall steadily at a quiet pace and Brent has stabilised after the September rally. Of the 19 commodities monitored, 4 moved by more than ±1%.
Main market moves this week
Cocoa beans: -9.6%, buy for chocolate producers
ICE London cocoa Dec26 closed on Friday 18.9. at 5,327 USD/t according to Trading Economics, which at an exchange rate of 1.1460 gives 4,648 EUR/t. Rootie range 5,115 – 5,580 EUR/t. This is the second consecutive week with a significant decline – producers are reporting a good harvest in Ghana and Ivory Coast, which has definitively changed the trend from the beginning of the year.
RBDW sunflower oil Bulgaria: +4.7%, secure offers
Refined sunflower oil in Bulgaria (national average according to TESEO CLAL) rose to 1,440 EUR/t, the second week of growth. Rootie range 1,585 – 1,730 EUR/t. Tension in the Black Sea and rising fuel prices are supporting the trend. Commodity Board Europe confirms an EU range of EUR 1,050 – 1,550/t depending on the country (Spain approx. 1,520).
Sugar #5: -2.7%, short fixation for Q4 tender
ICE White Sugar #5 Dec26 closed at 508.80 USD/t according to Barchart, which is 444 EUR/t. Rootie range 490 – 535 EUR/t. Sugar has continued its slow decline for the third week, closing at a 3-week low.
Brent crude: +0.4%, stabilised
Brent Nov26 closed at 103.87 USD/bbl (90 EUR/bbl) according to CommodityScope; after the September rally, the price has stabilised. Do not change delivered prices for routes over 500 km yet, but monitor Hormuz and Iranian tensions – one incident could return the price to growth.
Tapioca starch: +1.2%, FX effect only
TTSA Bangkok reports 705 USD/MT, stable for the fourth week, but due to the weakening euro the EUR quote is 615 EUR/t. Rootie range 675 – 735 EUR/t. For clients in dairy and frozen production, the original price remains valid, only with a reminder of FX risk.
MATIF wheat Dec26: 241.50 EUR/t, +0.6%
According to AHDB Futures as of 21.9. For bakery raw materials, this means stability; no major move occurred this week.
Rapeseed oil Nov26: 549.75 EUR/t, flat
Euronext ECO is holding in the mid-550s, no new signal.
Soybean meal: refresh baseline
In the previous issue we stated 355 EUR/t (July quote). The current TESEO CLAL Spain level is 401 EUR/t as of 13.9., which is the new baseline. The real change over the last week is only +0.5%, but versus the old figure it is +13%. We adjusted the contract between issues, so we do not state % w/w.
What this means for you by segment
Bakeries and confectioneries
Sugar -2.7% opens a window for a Q4 tender. Recommendation: request a price offer valid for 5 – 7 days so that you can lock in the decline before a possible stabilisation of the market. MATIF wheat +0.6% and T550 flour remain stable.
Chocolate producers and confectionery manufacturers
Cocoa -9.6% is the strongest signal of the week. For DP Chocolate, Nestville, Plain Power, Illui and other chocolate producers, it is appropriate to make a follow-up calculation with an updated price. Within 14 days, the same offer may be significantly cheaper. Do not quote powder with % w/w – monthly level only.
Dairies
Potato starch remains stable at the quarterly level of 851 EUR/t. No major moves for dessert and frozen bakery manufacturers.
Fitness and muesli
Maltodextrin remains at 998 EUR/t on a monthly basis. Update soybean meal to 401 EUR/t in client communication.
Gastro and oils
Sunflower oil +4.7% is urgent. Offers with current validity lose value quickly. We recommend calculating the price for a maximum of 7 days.
Logistics
Brent at 103.87 USD/bbl is stable, but not low. Keep delivered prices on routes 500 km+ unchanged for now, but recalculate immediately in the event of an Iranian or Hormuz escalation.
Practical impact for buyers
- Cocoa follow-up (by Wednesday 24.9.): If you have chocolate producer clients, send them an updated calculation today at a price of 4,648 EUR/t, validity 7 days.
- Sunflower oil fixation (by Friday 26.9.): For gastro clients (PALMA, Bell Zvolen, VAS, HoReCa chains), request two comparable offers – EU wholesale and CIF Rotterdam, with validity.
- Sugar Q4 tender (by Wednesday 24.9.): Prepare a price for bakeries and confectioneries with a 5 – 7 day fixation.
- Soybean meal communication (by Friday 26.9.): Update the baseline to 401 EUR/t in client communication.
Why Rootie works this week
This week, through Rootie, we closed 3 contracts with an aggregated volume of 180 tonnes and an average saving of 8% compared with the spot price. Our suppliers are contracted in the EU, payment terms for buyers are up to 60 days and receivables are insured through Coface. Live prices are available at rootie.eu.
Need help timing your purchase?
Send us the commodity, specification, volume and delivery location. We will compare fresh offers and set a short or regular purchasing window.
Sources:ECB – EUR/USD reference rate • ICE White Sugar #5 – Barchart • Cocoa – Trading Economics • Brent crude – CommodityScope • MATIF wheat – AHDB Futures • Rapeseed – Euronext ECO • Sunflower oil Bulgaria – TESEO CLAL • Tapioca – TTSA Bangkok • Soybean meal Spain – TESEO CLAL • Cocoa powder – Procurement Resource UK • Potato starch – ChemAnalyst • Commodity Board Europe – Sunflower Volgograd