Agri- Commodities: 26-30/5/25
Jun 02, 2025
Monday Monday opened quietly in Europe as U.S. markets remained closed for Memorial Day. MATIF wheat traded lower in thin volumes, but losses were limited by concerns over dry conditions in France and rising temperatures in Russia. The May JRC MARS Bulletin painted a mixed EU crop outlook, nudging soft wheat yield estimates slightly higher but trimming rapeseed expectations. Meanwhile, geopolitical noise grew louder with President Trump mulling new sanctions against Russia, and Germany lifting range restrictions on Ukrainian strikes using Western weapons.
Tuesday Tuesday brought a sharp selloff in wheat, sparked by anticipation of improved U.S. crop ratings and favorable European weather updates. However, post-close data upended that narrative: U.S. winter wheat ratings unexpectedly fell, and spring wheat condition ratings debuted far below expectations at just 45% G/E. Corn and soybeans followed wheat lower intraday but showed mixed closes, supported by subdued planting progress and crop condition metrics that came in below trader estimates. EU wheat exports continued to climb, though soft demand in international tenders suggested headwinds remain.
Wednesday Midweek, wheat attempted a recovery on the back of disappointing U.S. crop data, but gains were quickly erased as updated forecasts promised more rainfall in drought-hit France. Corn and soybeans declined further, pressured by favorable planting pace and weather. Positioning data revealed a notable short-covering in MATIF wheat and continued buying in rapeseed. The European Commission revised up its wheat and barley production outlooks but trimmed maize estimates, reflecting uneven weather impacts across the bloc.
Thursday On Thursday, wheat posted fresh contract lows on MATIF before mild bargain-buying helped it claw back modest gains. Markets digested a significant U.S. court ruling limiting President Trump’s tariff powers, which sent equity markets surging but failed to meaningfully support grain prices. India announced a record wheat harvest, likely eliminating its need for imports in the next marketing year. Corn continued to slump amid persistent fund pressure and weak technicals. Friday Friday closed the week on a cautious note. Corn and soybeans extended their losses, weighed down by benign weather and growing U.S.-China trade tensions. Minneapolis spring wheat found support on continued concerns over crop quality. French wheat ratings dipped slightly but remain strong historically. Export sales were solid for wheat but underwhelming for soybeans, while fund positioning showed limited movement, with net shorts persisting in corn and wheat. President Trump’s announcement of tariff hikes on steel and aluminum reignited market fears of a broader trade confrontation, capping a volatile month that ended with MATIF wheat likely posting its third straight monthly decline.
Weekly Recaps
Commodities
Agri- Commodities:
26–30 /5/25 Agri
Jun 02, 2025
Monday opened quietly in Europe as U.S. markets remained closed for Memorial Day. MATIF wheat traded lower in thin volumes, but losses were limited by concerns over dry conditions in France and rising temperatures in Russia. The May JRC MARS Bulletin painted a mixed EU crop outlook, nudging soft wheat yield estimates slightly higher but trimming rapeseed expectations. Meanwhile, geopolitical noise grew louder with President Trump mulling new sanctions against Russia, and Germany lifting range restrictions on Ukrainian strikes using Western weapons.
Freight
Freight Recap:
29/05/25
May 29, 2025
The Atlantic market struggled with weak sentiment throughout the week. Following recent holidays, demand remained soft and fresh cargoes were limited, particularly in the North. In the South, while some fixing activity was noted, oversupply of ships continued to weigh heavily on rates. Owners faced increasing pressure as charterers held firm, and some vessels were reported fixing below last done.
Commodities
Agri- Commodities:
19-23/5/25 Agri
May 26, 2025
Grain markets exhibited volatility throughout Week 21, with wheat prices leading a mid-week rally before easing slightly into the weekend. Early in the week, MATIF milling wheat weakened in response to Saudi Arabia’s tender, which confirmed continued preference for competitively priced Black Sea wheat. Meanwhile, CBOT futures found strength, buoyed by a broader risk-on sentiment in financial markets after a brief dip following Moody’s downgrade of the U.S. credit rating. U.S. corn inspections came in strong, and planting progress remained well ahead of the five-year average, though winter wheat conditions unexpectedly declined. On the geopolitical front, markets briefly reacted to the news of prospective ceasefire talks between Ukraine and Russia, although subsequent clarifications tempered expectations.
Freight
Freight Recap:
21/05/25
May 21, 2025
The Handysize segment saw mild gains in most Atlantic regions. The Continent and Mediterranean moved slightly higher, while the US Gulf and South Atlantic markets remained balanced, helped by steady cargo flows and tighter prompt tonnage. Sentiment was stable to slightly firmer across the basin.
