Weekly Agri- Commodities Recap: 15-19/04/24
Apr 22, 2024
The week began with lower CBOT prices and mixed MATIF milling wheat prices, reflecting a lack of sustained momentum from the previous week. Energy markets sold off amid hopes for de-escalation in the Middle East. Notable events included Egypt's GASC seeking wheat, USDA reporting private corn sales to Mexico, and US weekly export inspections showing strong wheat figures, especially to China.
Despite lower crop forecasts in major exporting countries, prices trended lower on Tuesday. Forecasts of decreased grain harvests in Ukraine, Germany, and France had little reaction from the market. Egypt's GASC purchase of Ukrainian wheat and Jordan's potential cancellation of a tender were significant developments. Geopolitical tensions and weather concerns remained vital factors influencing market sentiment.
Wheat prices initially rose but closed lower on Wednesday, driven by Kansas wheat, while corn traded within a narrow range. Tunisia and Jordan issued tenders for wheat, and Argentina revised its corn production estimate downward. Geopolitical tensions intensified as US-China trade relations faced potential strain due to proposed tariff increases. Non-commercial participants were buyers of MATIF milling wheat and rapeseed.
Market prices ended mixed on Thursday, with wheat mostly higher while corn and soybeans closed lower. Geopolitical tensions intensified following Israel's strike inside Iran, raising concerns of further escalation. The International Grains Council lowered global corn production forecasts, highlighting weather conditions as a decisive factor. US weekly export sales were within expectations, with notable cancellations by China.
The week concluded with favorable prices supported by a geopolitical risk premium. France maintained its soft wheat estimates, while SovEcon revised Russian wheat production forecasts downward. The Russian government approved an additional export tariff quota for grain, and India's wheat reserves reached a 16-year low. Funds increased their net short positions, indicating optimistic crop forecasts.
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.
