Agri- Commodities: 09-13/09/24
Sep 16, 2024
The week started with subdued trading for wheat and corn, both remaining within narrow ranges, while oilseeds rebounded from Friday’s losses. The U.S. Crop Progress report provided little support for higher prices, leading to slight declines in corn and soybeans. Russian wheat prices eased to $215 per ton, with crop forecasts lowered to 82.2 million metric tons (mmt). U.S. corn harvest progress reached 5%, with conditions dropping to 64% Good/Excellent, while soybeans held steady at 65%. In Canada, wheat stocks fell to 4.58 mmt, lower than last year’s levels.
On Tuesday, soybean prices tumbled over 2% following better-than-expected U.S. crop ratings, while corn saw moderate losses. Wheat, in contrast, remained firm ahead of Wednesday's USDA report. Market expectations suggested slight reductions in U.S. corn yields but no changes for soybeans. Global wheat adjustments were also anticipated, with the EU crop forecast expected to decline by 3-4 mmt.
Middle of the week, grain prices rose across the board, led by wheat on the MATIF exchange, as traders covered short positions amid concerns over Russian crop conditions. Argentina's wheat crop was reported to be struggling, with 30% in poor condition, raising doubts over the country’s 20.5 mmt forecast. Meanwhile, inflation in the U.S. showed signs of easing, increasing the possibility of a Federal Reserve interest rate cut.
On Thursday the wheat prices briefly surged after reports of a missile strike on a grain vessel in the Black Sea, but gains were pared back following a lackluster USDA report. Corn and soybean prices rose slightly. Egypt purchased 430,000 tons of Russian wheat in a private deal, while U.S. export sales showed mixed results, with strong soybean sales but disappointing corn figures. Brazil’s CONAB slightly raised its corn estimate to 115.72 mmt, while maintaining its soybean estimate at 147.38 mmt.
Grain prices closed the week with mixed results. Wheat led gains, closing nearly 3% higher on Black Sea tensions, while oilseed prices declined, pressured by India’s move increase import duties on edible oils. Funds closed short positions aggressively across corn, soybeans, and wheat. Traders now turn their focus to the Federal Reserve’s upcoming interest rate decision, where a modest rate cut is expected to avoid inflation risks.
Weekly Recaps
Freight
Freight Recap:
18/12/25
Dec 18, 2025
The dry bulk market saw a softer overall tone, with Handysize holding largely flat, Supramax weakening across both basins, and Panamax continuing its decline despite some localized Atlantic support. Activity levels remained muted in many regions, with owners increasingly seeking cover ahead of the holiday period. The Atlantic showed mixed signals across segments, while the Pacific faced longer tonnage lists and weaker demand, keeping pressure on rates.
Commodities
Agri- Commodities:
08-12/12/25 Agri
Dec 15, 2025
CBOT markets finished lower ahead of Tuesday’s WASDE, which was widely expected to lack bullish surprises. MATIF wheat was the exception, posting small gains. Russian 12.5% protein wheat FOB for January delivery edged up by $0.5 w/w to $227.5/t, according to IKAR. Geopolitical headlines remained in focus after Ukrainian President Volodymyr Zelenskiy said US-brokered peace talks remain stalled over security guarantees and control of eastern Ukraine, particularly the Donbas.
Freight
Freight Recap:
11/12/25
Dec 11, 2025
The dry bulk market saw a softer overall tone, with Handysize holding largely flat, Supramax weakening across both basins, and Panamax continuing its decline despite some localized Atlantic support. Activity levels remained muted in many regions, with owners increasingly seeking cover ahead of the holiday period. The Atlantic showed mixed signals across segments, while the Pacific faced longer tonnage lists and weaker demand, keeping pressure on rates.
Commodities
Agri- Commodities:
01-05/12/25 Agri
Dec 08, 2025
USDA announced no new flash sales, disappointing soybean markets. Weekly export sales remain delayed and have not yet reached the period covering the US–China trade deal, leaving the true pace of buying uncertain. CBOT corn and wheat eased, while March MATIF wheat posted small gains after finding support at intraday contract lows. ABARES raised Australia’s 2025/26 wheat, barley, and canola output, though the increases were broadly in line with expectations. Algeria’s OAIC issued a soft wheat tender for February shipment, and Russian wheat prices slipped again, with 12.5% FOB for January at $227/t.
