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:
18/12/25
Dec 18, 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:
08-12/12/25 Agri
Dec 15, 2025
CBOT markets finished lower ahead of Tuesday’s WASDE, which was widely expected to lack bullish surprises. MATIF wheat was the exception, posting small gains. Russian 12.5% protein wheat FOB for January delivery edged up by $0.5 w/w to $227.5/t, according to IKAR. Geopolitical headlines remained in focus after Ukrainian President Volodymyr Zelenskiy said US-brokered peace talks remain stalled over security guarantees and control of eastern Ukraine, particularly the Donbas.
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.
