Weekly Agri- Commodities Recap: 29/04-03/05/24
May 03, 2024
Wheat prices underwent a correction on Monday, dropping over 2% primarily due to an improved weather outlook in South Russia. This correction was particularly evident in MATIF and CBOT wheat contracts. However, Kansas wheat prices remained resilient, buoyed by declining Hard Red Winter (HRW) wheat ratings. Russian wheat prices saw a slight increase, with 12.5% protein Russian wheat prices on a FOB basis for May/June shipment rising to $212 per ton. US weekly export inspections met expectations, with soybeans totalling 250k tons, corn 1226k tons, and wheat 481k tons. Crop progress reports confirmed declining HRW wheat conditions, although corn and soybean plantings were progressing steadily.
Wheat prices continued their downward trend on Tuesday as profit-taking led to prices falling below key moving averages. Jordan cancelled a tender for milling wheat due to perceived high prices. USDA attaché reports forecasted steady wheat production in Australia but highlighted regional disparities in planting conditions. Market focus shifted to the Federal Reserve's interest rate decision, impacting currency markets, with EUR/USD falling to approximately 1.065.
Grain markets exhibited mixed movements on Wednesday, with wheat prices declining while soybeans and corn prices rose. Ukraine's strong grain exports persisted, with April exports surpassing previous months. Weather models suggested wetter conditions in key growing regions, potentially impacting planting progress. The Federal Reserve's decision to maintain interest rates influenced market volatility, with oil prices facing downward pressure on surging US commercial crude oil stockpiles. MATIF remained closed, contributing to low trading volume on CBOT.
Soybeans and corn rallied on Thursday amidst concerns over flooding in southern Brazil, frost risk in Argentina, and potential planting delays in the US. This weather-driven market contrasted with the rebound in wheat prices, which managed to close slightly higher after three consecutive down sessions. Argentina's Buenos Aires Grain Exchange lowered its corn estimate, adding to market sentiment. US weekly export sales met expectations, with reductions in drought conditions reported. Non-commercial participants were active buyers of MATIF wheat.
Wheat prices closed the week on a strong note on Friday, driven by renewed concerns over the Russian wheat crop. French wheat ratings remained stable, while the US reported soybean sales to unknown destinations. Funds continued to cover short positions in corn and wheat, with wheat prices testing previous highs. The softer US jobs report suggested potential future rate cuts, impacting market sentiment. US stock indices rallied, and the dollar weakened as markets priced in the possibility of rate cuts later in the year.
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.
