Weekly Agri- Commodities Recap: 05-09/08/24
Aug 12, 2024
Monday saw CBOT grain prices hold steady despite broader financial market declines. The weaker dollar offered some support, but significant short positions in corn, soybeans, and wheat likely played a role in the market's resilience. US crop conditions were mixed, with corn ratings slipping to 67% G/E and soybeans improving to 68% G/E. Ukraine's grain exports were faster compared to last year.
Tuesday's grain market saw losses, particularly in soybeans, due to improved US soybean ratings. Wheat prices reversed early losses, boosted by tenders from major wheat-importing countries. The EU’s projected wheat and corn crops are lower than USDA estimates, suggesting possible revisions. Jordan passed on its wheat tender due to high prices.
Wednesday brought further declines in CBOT corn and soybeans amid expectations of record yields in the upcoming USDA report. Wheat prices struggled to maintain gains from previous day’s tenders. Ukraine’s grain exports were slightly lower than June, and Jordan passed on its barley tender. Non-commercial participants increased their net short positions in MATIF milling wheat.
On Thursday, grain prices were mixed. Soybeans and corn faced pressure ahead of the USDA report, while wheat prices found support from MATIF gains and major wheat tenders. US weekly export sales exceeded expectations, particularly for soybeans. The NOAA forecasted ongoing ENSO-neutral conditions with a chance of La Niña emerging later in the year. Argentina faced grain loading delays due to a strike.
Friday ended with CBOT corn and soybeans hitting new contract lows, while wheat prices showed some improvement. The USDA report, anticipated to provide insights into yield and production estimates, could impact market volatility. France revised its soft wheat crop estimate downward, while Russian wheat production forecasts from the well followed analysts went to opposite directions. The USDA also reported additional private sales of soybeans and soybean cake, though prices continued to ease.
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.
