Weekly Agri- Commodities Recap: 25-29/03/24
Apr 01, 2024
The week of March 25 to March 28, 2024, unfolded with mixed sentiments and varied price movements in the grain markets.
On Monday, the May MATIF Milling wheat futures retreated slightly, relinquishing some gains from the previous session. While developments in the Black Sea region continued to influence market sentiment, traders also positioned themselves ahead of important USDA reports scheduled for later in the week. Russia's agricultural watchdog proposed redistributing grain export quotas, potentially impacting exporters like TD RIF. Analysts noted increased prices of Russian wheat, while Jordan cancelled a tender for milling wheat.
Prices across the board declined on Tuesday, with the wheat rally driven by Black Sea-related headlines proving short-lived. Attention turned to USDA reports scheduled for later in the week, prompting cautious positioning by traders. The EU's soft wheat exports increased, albeit with discrepancies in reported data. Kazakhstan projected an increase in wheat production for 2024. Market participants awaited USDA reports, particularly for insights into quarterly stocks and planting intentions.
Wednesday marked the last trading day of the month and quarter, with volatility expected ahead of USDA reports. Non-commercial participants reduced their net short positions in MATIF milling wheat, but prices erased gains, potentially prompting short positions to increase again. Jordan issued a tender for feed barley, while Russian wheat exports remained steady despite ongoing concerns. The spread between May and September MATIF milling wheat contracts reached new lows.
On Thursday, the EU Commission's initial estimates indicated a decrease in soft wheat production, primarily in France, Germany, and Lithuania, offset by recoveries in Spain, Denmark, and Latvia. Saudi Arabia issued a tender for wheat, while the EU Commission projected decreases in usable soft wheat production but recoveries in barley and corn crops. USDA reports revealed lower-than-expected corn acreage but higher-than-expected soybean acreage, influencing market sentiment.
Weekly Recaps
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.
Freight
Freight Recap:
04/12/25
Dec 04, 2025
The dry bulk market saw a generally mixed performance, with Handysize remaining supported in the Atlantic, Supramax showing uneven movement across regions, and Panamax continuing its correction as rising vessel supply weighed on sentiment. Atlantic dynamics were split between firmer US Gulf/US East Coast activity in the smaller segments and softer conditions for Panamax. In the Pacific, muted enquiry and longer lists contributed to a softer tone, especially in NoPac, though isolated strength persisted in Australian coal.
