Weekly Agri- Commodities Recap: 29/07-02/08/24
Aug 05, 2024
Monday started with weaker futures markets as Russian wheat production increased while French wheat faced quality issues due to adverse weather. Algeria bought 100,000 tons of barley at around USD 218.80. Russia's central bank raised interest rates to 18%. Net short positions in wheat, corn, and soybeans were reduced.
Tuesday saw wheat futures recover nicely after an early dip, with corn and soybeans also slightly improved. Russian wheat prices hovered around USD 220. The Swiss grain harvest was disappointing, with yields down 30% due to a wet spring, mirroring poor results in France. Tunisia announced a tender for 125,000 metric tons of soft milling wheat and 50,000 tons of durum wheat. USDA export inspections showed strong numbers for soybeans, wheat, and corn.
Wednesday futures markets closed weaker, starting the day in the red. The cash grain market felt weaker with increased offers from the Black Sea region and subdued demand. U.S. corn and wheat looked attractive due to competitive prices. Brazil saw strong movement with farmers bringing soybeans and corn to market, with the corn harvest advancing rapidly. Tunisia acquired 125,000 metric tons of soft milling wheat and 50,000 metric tons of durum wheat.
Thursday saw Chicago corn futures drop below USD 4.00 for the first time in four years. Wheat markets were mixed, while the bean oil share gained. Jordan passed on a barley tender but will issue a new one on August 7. Cash grain markets were quiet, with Russian wheat showing a weaker tone. The French wheat harvest continued to disappoint. Taiwan's MFIG purchased 65,000 metric tons of Brazilian corn, and Ukraine’s 2024 grain forecast was reduced to 71.8 million metric tons due to heatwaves. Friday saw slight short covering in CBOT due to a weaker U.S. dollar, though European prices stayed weak. The USDA reported a private sale of 202,000 tons of soybeans to China for the 2024/2025 marketing year. Funds reduced their net short in corn while increasing their net short in soybeans. Concerns about a potential U.S. recession impacted global markets and currencies, offering some short-term support for CBOT prices. Weather forecasts suggest favorable conditions for harvest progress in France.
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.
