Weekly Agri- Commodities Recap: 01-05/04/24
Apr 09, 2024
The week began with lower CBOT wheat and corn prices following a rally triggered by the previous Thursday's USDA report. Concerns over Ukrainian exports and Saudi Arabia's increased wheat purchases were notable. US weekly export inspections showed mixed results, with wheat and corn exceeding expectations, while soybeans fell short. Traders awaited EURONEXT's reopening and monitored Russian and Ukrainian export activities closely.
Grain prices fell on Tuesday, reversing gains from the previous week amid favorable US winter wheat ratings and easing concerns over Russian wheat exports. Chinese customs' directives to limit foreign corn deliveries raised uncertainties over demand. USDA attachés released forecasts for various countries, including projections of record wheat harvests in India and Pakistan. India's call to refrain from purchasing new-season wheat aimed to support government reserves.
Wednesday saw US grains and oilseeds futures close higher, with wheat leading the surge due to Black Sea-related headlines and a weaker dollar. Reports of Ukrainian drone strikes and Russia's grain export restrictions added to market dynamics. Buyer activity increased with tenders announced by Tunisia, Jordan, and Iran. Non-commercial participants reduced net short positions in MATIF milling wheat despite price drops, reflecting cautious market sentiment amidst geopolitical tensions.
Grain prices ended mixed on Thursday, with attention shifting to US jobs data and weather forecasts. Tenders from Jordan and Tunisia contributed to market activity, while US weekly export sales showed modest results. Notable events included redirected US wheat shipments to China and drought concerns in the US winter wheat area. Outside markets, including oil prices and Fed discussions on rate cuts, influenced market sentiment.
Wheat prices closed the week higher amid rising tensions in the Black Sea region, while corn prices slightly declined despite supportive news from Argentina. Geopolitical developments, including Ukrainian strikes and Russian assaults, added to market uncertainty. France reported a decrease in wheat ratings, while Argentina revised its corn crop estimate downward. Funds maintained relatively stable positions in CBOT despite important USDA reports released earlier in the week.
Weekly Recaps
Freight
Freight Recap:
20/11/25
Nov 20, 2025
The dry bulk market showed a steady but uneven performance, with Handysize activity quiet, Supramax maintaining a firm underlying tone, and Panamax supported by stronger fundamentals in both basins. The Atlantic remained broadly stable, supported by positional tightness in some regions, while the Pacific held steady despite lighter fixing. Period and voyage activity continued across segments, reflecting balanced supply and demand dynamics.
Commodities
Agri- Commodities:
10-14/11/25 Agri
Nov 17, 2025
Grain markets firmed at the start of the week as headlines about a possible end to the U.S. government shutdown lifted CBOT futures, while European wheat lagged and improved EU export competitiveness. Market participants noted that, without fresh supportive catalysts, the rally might prove short-lived. Average trade estimates placed U.S. corn and soybean harvests at 92% and 96% complete, with winter wheat 95% planted and 52% good/excellent, though official USDA data remained unavailable due to the shutdown.
Egypt’s state buyer Mostakbal Misr was reported to have bought around 500k tons of wheat for late December–January delivery, including roughly 200k tons from Russia. Russian 12.5% FOB wheat closed last week at $232/t, slightly up on the week. Brazil’s 25/26 corn crop was forecast by Safras at 143.6 mmt, well above USDA’s September estimate. U.S. export inspections showed solid corn and soybean volumes but cumulative soybean loadings remained 6.4 mmt behind last year.
Freight
Freight Recap:
13/11/25
Nov 13, 2025
The dry bulk market showed a mixed performance, with Handysize activity remaining limited, Supramax maintaining firmer sentiment, and Panamax extending its gains on stronger fundamentals. The Atlantic generally held a positive tone across most segments, while the Pacific remained steady but slower, with Asian Handysize and Supramax markets facing softer enquiry and longer tonnage lists. Period interest persisted in both Supramax and Panamax sectors, supported by balanced fundamentals and improving demand signals.
Commodities
Agri- Commodities:
03-07/11/25 Agri
Nov 10, 2025
Soybeans extended their rally on expectations of accelerating Chinese demand, while rumors of U.S. wheat sales to China lifted Chicago futures. Corn stayed firm after StoneX raised its U.S. yield estimate to 186.0 bu/acre, though many still expect revisions lower in upcoming reports. Harvest progress reached 91% for soybeans and 83% for corn, with winter wheat planting nearly complete at 91%.
Export inspections totaled 965k t of soybeans, 1.67 mmt of corn, and 350k t of wheat—broadly in line with expectations. Despite easing trade tensions, Chinese importers continued booking cheaper Brazilian soybeans, reportedly 20 cargoes for December through mid-2026. Kazakhstan’s agriculture ministry reported a 27.1 mmt total harvest, including 20.3 mmt of wheat, far above USDA’s 16 mmt estimate.
