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Grains started the week under pressure as a Trump headline triggered a sharp drop in oil and lifted broader financial markets. Wheat and corn followed lower but managed to recover from intraday lows as uncertainty around the announcement grew. Market direction remained tied to whether the situation signals a real de-escalation or only a temporary pause.

The dry bulk market softened this week across all segments. Geared vessels remained under pressure, while Panamax lost the momentum seen earlier in March and moved back into line with the broader market. The key shift came from bunkers, which eased materially. This removed one of the few recent supports for freight, particularly in weaker basins where owners had relied on fuel costs to defend levels. At the same time, Atlantic grain regions remain oversupplied with prompt tonnage, keeping pressure on rates.

Mads and the Sparta team explored the impact of Trump’s tariffs, sanctions, and market inefficiencies on oil and freight trading, as well as how tariffs on Mexico, Canada, and China could reshape trade flows—discussed

Will Latin American countries continue to increase import of Russian wheat? Our colleague Indrek Aigro shared valuable insights at the Abitrigo Conference on shifting import and export trends in Latin America