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:
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.
