Weekly Agri- Commodities Recap: 08-12/07/24
Jul 15, 2024
Monday saw a significant downturn for corn, with September futures dropping over 4% to new contract lows, while wheat also closed sharply lower. Funds increased their net short positions in corn by 58.9k contracts, reflecting a lack of concern over crop conditions. USDA’s announcement of a 135.6k-ton corn sale to unknown destinations did little to stem the decline. US weekly export inspections were within expectations, and US corn and soybean condition ratings improved by 1 percentage point each.
Tuesday brought mixed price movements. Oilseeds saw sharp declines, while US corn and wheat futures posted slight gains. The French Farm Ministry projected a significant reduction in the country's soft wheat crop to 29.7 million metric tons (mmt) from last year's 35.1 mmt. EU soft wheat exports were reported at 31.00 million tons for the 2023/24 marketing year. Algeria purchased an undisclosed volume of wheat at $246-253 per ton CnF, while Jordan canceled its tender for 120k tons of milling wheat.
Prices generally declined on Wednesday, except for nearby corn contracts. Market participants were keenly awaiting crop updates from Brazil’s CONAB and the USDA’s updated numbers on Thursday. Non-commercial participants shifted to a net short position in MATIF milling wheat. The USDA reported a private sale of 132k tons of soybeans to China for the 2024/2025 marketing year. Pre-report expectations indicated minor downward adjustments in US corn and soybean yields.
Grains closed in positive territory on Thursday, driven by pre-report positioning despite limited bullish news. FranceAgriMer revised French soft wheat ending stocks for the 2023/24 season upward to 3.89 mmt, while barley stocks were lowered. Brazil’s CONAB raised its corn production estimate to 115.9 mmt. US weekly export sales totaled 240k tons of wheat, 655k tons of corn, and 399k tons of soybeans.
The USDA report released on Friday supported corn prices but pressured wheat. The USDA increased US wheat production by 133 million bushels (mbu), creating a bearish outlook for wheat. For corn, unexpected increases in domestic consumption and exports reduced carryout by 172 mbu. The soybean report was neutral to slightly bearish, with minimal changes in global ending stocks and slight reductions in US production estimates. French soft wheat ratings fell slightly, with the harvest lagging significantly compared to last 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.
