Weekly Agri- Commodities Recap: 12-16/08/24
Aug 19, 2024
On Monday the USDA report projected record yields for U.S. corn and soybeans, exceeding previous highs by 3.2% and 2.6%, respectively. This pressured soybean prices while corn found some support. Average US farm price forecasts were down sharply across the board: corn (-10% y/y), soybeans (-14% y/y), and wheat (-18% y/y). Egypt’s GASC wheat tender fell short, securing only 280,000 tons out of a targeted 3.8 million.
Soybeans continued their decline on Tuesday, with corn and wheat also closing lower. Brazil’s CONAB slightly adjusted its crop estimates, cutting corn production to 115.65 mmt while raising soybeans to 147.38 mmt. Despite bearish sentiment, the USDA reported steady flash sales, signaling that lower prices may be attracting demand. GASC began direct negotiations for more wheat, likely from Russia, after its disappointing tender.
Wednesday MATIF wheat futures fell below €220/ton, pressured by aggressive Black Sea exports and currency effects. Corn and soybeans saw modest rebounds, supported by bargain buying. Reports of a Russian attack on Odessa port briefly lifted wheat but gains were limited as Black Sea supplies remained plentiful. The strong euro kept European wheat under pressure.
Thursday Wheat prices slipped again after an early rally faded, reflecting the market’s reluctance to sustain gains on geopolitical headlines. Corn and soybeans also struggled, with attention turning to next week’s ProFarmer crop tour, expected to confirm strong U.S. yield prospects. Argentina’s Rosario Grain Exchange raised its corn estimate to 49 mmt, while Argentina’s wheat production outlook remained robust at 20.5 mmt, supported by favorable rainfall.
End of the week wheat futures rebounded, led by MATIF, after Thursday’s sharp drop. CBOT wheat posted modest gains, while corn and soybeans hit new lows as favorable U.S. rains bolstered yield prospects. The U.S. crop tour begins next week, with daily updates expected to guide market sentiment. French wheat harvest reached 98% completion, and Germany cut its wheat crop forecast further due to dry weather, reducing production estimates to 18.76 mmt.
Weekly Recaps
Commodities
Agri- Commodities:
11-15/08/25 Agri
Aug 18, 2025
Grain markets experienced another volatile week as political developments, trade disputes, and bearish USDA data drove sentiment. Early in the week, soybeans surged on speculation that Chinese buying might resume following Donald Trump’s extension of tariff pauses, but corn and wheat failed to follow. Export inspections painted a mixed picture, with corn and soybeans performing well while wheat lagged. The USDA’s August WASDE loomed large over the market, with traders bracing for higher yield estimates.
Freight
Freight Recap:
14/08/25
Aug 14, 2025
The dry bulk market presented a mixed performance this week, with the Supramax segment edging higher, Handysize holding steady with minor gains, and Panamax showing a regional split — weaker in the Atlantic, firmer in the Pacific.
Commodities
Agri- Commodities:
04–08/08/25 Agri
Aug 11, 2025
Grain markets swung sharply this week, rebounding midweek before easing, driven by yield outlooks, export data, and geopolitical headlines.
Freight
Freight Recap:
7/08/25
Aug 07, 2025
Port of Callao halted operations after an Evergreen ship lost 50 containers during rough weather. Meanwhile, July's freight data shows the market stuck in a supply-heavy “holding pattern,” with capacity expanding but pricing rising faster — suggesting a slow, uneven recovery in logistics and transportation
