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:
05/06/25
Jun 05, 2025
The Panamax Atlantic market showed signs of a strong rebound, especially in both the North and South where firmer bids and tightening tonnage contributed to rising sentiment. Fixtures suggested that some charterers may have overplayed their hand, triggering a jump in rates
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.
