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:
08-12/09/25 Agri
Sep 15, 2025
The week opened with wheat leading a modest rally, Kansas futures gaining more than 2% in what appeared to be an overdue correction in an oversold market. Chicago and MATIF contracts followed with smaller advances, while corn and soybeans also firmed ahead of the US crop progress update and Friday’s WASDE. Despite the bounce, trading volumes suggested short liquidation in wheat had not yet begun in earnest. Sovecon raised its 2025 Russian wheat forecast to 86.1 mmt, broadly matching IKAR, while US crop ratings slipped only marginally. Export inspections painted a mixed picture, with corn and soybeans steady but wheat sharply lower.

Freight
Freight Recap:
11/09/25
Sep 11, 2025
The dry bulk freight market maintained a firm tone this week, with Handysize, Supramax, and Panamax indices all showing gains.

Commodities
Agri- Commodities:
01-04/09/25 Agri
Sep 08, 2025
Grain markets remained under pressure last week, with wheat leading losses as both C-B-O-T and MATIF contracts hit fresh multi-year lows on ample global supply and weak demand. Corn was more resilient, briefly reaching a six-week high before retreating as short covering faded, while soybeans slid throughout the week on poor export demand and the continued absence of Chinese buying. Broader financial market weakness added to bearish sentiment, and traders now look ahead to key macro events — U.S. inflation data, the ECB rate decision, and Friday’s USDA WASDE report.