Weekly Agri- Commodities Recap: 15-19/07/24
Jul 22, 2024
European wheat futures fell to a three-month low on Monday due to large U.S. and Russian harvest expectations and poor French crop prospects. Chicago wheat prices also dropped following a USDA report on higher U.S. production. Corn futures hit record lows amid favorable Midwest weather. Russia's IKAR raised its wheat crop forecast to 83.2 million metric tons. U.S. crop conditions remained stable, with spring wheat at 77% good/excellent.
On Tuesday, CBOT September corn rose slightly as traders took advantage of low prices. Wheat futures continued to decline, pressured by the Northern Hemisphere harvest and cheap Russian wheat. Egypt's GASC bought 770,000 metric tons of wheat, primarily from Russia. Ukraine exported 2.3 million metric tons of agricultural goods, with significant volumes of corn and wheat.
Wednesday saw modest gains in CBOT corn, though favorable Midwest weather capped increases. Wheat prices stabilized with a weaker dollar, and European wheat futures rose due to strong import demand. Algeria's OAIC purchased 770,000 metric tons of milling wheat. Jordan did not buy barley but plans a new tender. Romania reported drought damage to corn and sunflowers, with less impact on wheat.
On Thursday, Central and Northern European wheat markets paused as harvests began, with lower protein levels but higher yields. The Black Sea region sold 1.6 million metric tons of wheat for August and September. Tunisia announced a tender for 100,000 metric tons of animal feed barley. The International Grains Council raised its global grains production forecast, though stocks are expected to fall.
European wheat futures rose 4% on Friday due to poor French crop conditions. Ukraine's harvest reached 13.8 million metric tons, with significant wheat volumes. Tunisia likely purchased 100,000 metric tons of feed barley. CFTC-CBOT data showed a reduction in wheat speculators' short positions. Russia's IKAR revised its grain harvest forecast down to 128 million tons, with expected drops in barley and corn production.
Weekly Recaps
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.
Freight
Freight Recap:
06/11/25
Nov 06, 2025
The dry bulk market experienced a generally softer tone this week, with most segments facing mild corrections. The Handysize and Supramax sectors saw limited fresh activity, while the Panamax market showed brief midweek stability before continuing its downward trajectory. Weak demand across basins and growing vessel availability placed pressure on rates, though select regional improvements offered some support.
Commodities
Agri- Commodities:
27-31/10/25 Agri
Nov 03, 2025
Grain markets opened the week firmer after upbeat headlines on a potential U.S.–China trade deal lifted risk appetite across commodities. The optimism came despite limited clarity on agricultural commitments and lingering pressure from weaker export data.
Russian wheat prices were slightly lower, while EU maize yields were trimmed further. In Argentina, the peso strengthened after President Javier Milei’s party secured a midterm victory. U.S. harvest progress advanced, though export inspections remained subdued.
Freight
Freight Recap:
30/10/25
Oct 30, 2025
Freight markets continued to ease across the board this week, with Panamax, Supramax, and Handysize segments all facing renewed pressure. Sentiment turned cautious as limited fresh demand and increasing tonnage lists in both basins weighed on rates, suggesting that the short-lived rally in mid-October may have topped out.
