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World food commodity prices rose in July to their highest in over two years, as a jump for vegetable oils and record levels for meat outweighed falling cereal, dairy and sugar prices, the United Nations' Food and Agriculture Organization said.

Chicago Mercantile Exchange live and feeder cattle futures hit contract highs for the second day in a row on Thursday as strong cash cattle prices and resilient consumer demand continued to fuel a rally, analysts said.

U.S. agrichemicals company Corteva raised its annual adjusted profit forecast on Wednesday, following strong performance in the first half of the year.

Miner and trader Glencore said on Wednesday that its long-term strategy could involve the sale of its 16.4 per cent stake in enlarged global agribusiness Bunge Global some time in the future.

Chicago Board of Trade wheat futures rebounded on Thursday after hitting a five-year low the previous day, and corn recovered from earlier contract lows as technical support and signs of new export demand countered the pressure of ample supplies, traders said.

Nutrien expects increased fertilizer use by North American farmers this fall and a good global potash market in 2026 despite some crop prices at multi-year lows.

Chicago wheat futures plunged to contract lows on Tuesday to approach their lowest point since 2020 as sinking corn futures and seasonal supply pressure from Northern Hemisphere harvests weighed on the market, traders said.

Chicago wheat futures slipped to a five-year low on Wednesday, while corn set contract lows for the third session in a row as ample global supply hung over grain markets.

Chicago wheat, corn and soybean futures chopped up and down but ended lower on Friday as traders weighed a bounce in demand fuelled by low prices against expectations of ample supply and upcoming U.S. government crop forecasts.

U.S. corn futures plunged to contract lows on Tuesday after the Department of Agriculture projected a record-shattering corn harvest this year as farmers planted more acres than expected and the crop faced few weather challenges this summer.