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:
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.
