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
Commodities
Agri- Commodities:
5-9/5/25 Agri
May 12, 2025
Grain markets faced a volatile week, marked by sharp price swings, shifting weather outlooks, and heightened geopolitical developments. The week began with broad-based losses, as favorable U.S. planting weather and declining oil prices pressured corn and wheat. Old crop corn tumbled over 3%, while MATIF milling wheat slid toward the critical €200 mark. Improved Black Sea rainfall forecasts further weighed on sentiment, with IKAR raising its Russian wheat crop estimate to 83.8 mmt. Meanwhile, U.S. planting progress remained steady but slightly below expectations, and winter wheat condition ratings exceeded forecasts, adding to the bearish tone.
Freight
Freight Recap:
08/05/25
May 08, 2025
The Atlantic Panamax market showed modest stability, with transatlantic activity supported by firm demand from North Coast South America and tight tonnage off the Continent. Grain business helped keep sentiment steady, though the southern part of the basin remained quiet with few fresh enquiries. Activity was limited due to holidays, but premium routes offered some support to rates despite a broadly sideways trend.
Commodities
Agri- Commodities:
28/4/-22/5/25 Agri
May 05, 2025
Grain markets navigated a complex mix of macroeconomic signals, weather developments, and geopolitical currents in Week 18, with wheat drawing the most attention amid volatile fund positioning and shifting sentiment. Early in the week, U.S. wheat futures led a broad decline across grain contracts as expectations for improved crop conditions took hold. These were confirmed late Monday by the Crop Progress report, which showed winter wheat ratings jumping to 49% good/excellent—surpassing market forecasts and matching last year’s figure. Favorable U.S. rainfall and continued planting progress in corn and soybeans reinforced the bearish tone, while a sharp uptick in wheat export inspections helped limit losses. Meanwhile, soybeans bucked the trend to close in the green, supported in part by robust export activity.
Freight
Freight Recap:
01/05/25
May 01, 2025
Panamax market softened over the week, with spot demand showing only limited support, particularly out of North Coast South America. Activity slowed across most areas, partly due to industry events and holidays. The Mediterranean saw a buildup in available tonnage, though sentiment remained cautiously firm.
