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:
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.
