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
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.
Commodities
Agri- Commodities:
24-28/11/25 Agri
Dec 01, 2025
Wheat opened the week lower after Saudi Arabia’s tender came in sharply priced, while soybeans and corn also finished slightly weaker. Market reaction to the Trump–Xi call remained muted, particularly for soybeans, where repeated political signals have not delivered the expected demand. Saudi Arabia’s GFSA bought 300k tons of wheat for March–April arrival at $257.96–$259.74/t CnF, roughly $5–$5.50 below the previous tender, with February slots skipped. Russian 12.5% protein wheat eased by $1 to $228/t FOB according to IKAR, and MARS reported that winter-cereal sowing in Europe is largely complete under mostly favorable conditions. US winter wheat conditions improved to 48% good/excellent, two points above the five-year average.
USDA confirmed private sales of 123k tons of US soybeans to China, bringing known 25/26 sales to 1.94 mmt, with an additional 0.62 mmt sold to “unknown” since October. Weekly US export inspections showed 799k tons of soybeans, 1,632k tons of corn, and 475k tons of wheat. No soybeans were shipped to China, leaving total inspections well behind last year’s levels.
