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
Freight
Freight Recap:
04/12/25
Dec 04, 2025
The dry bulk market saw a generally mixed performance, with Handysize remaining supported in the Atlantic, Supramax showing uneven movement across regions, and Panamax continuing its correction as rising vessel supply weighed on sentiment. Atlantic dynamics were split between firmer US Gulf/US East Coast activity in the smaller segments and softer conditions for Panamax. In the Pacific, muted enquiry and longer lists contributed to a softer tone, especially in NoPac, though isolated strength persisted in Australian coal.
Commodities
Agri- Commodities:
24-28/11/25 Agri
Dec 01, 2025
Wheat opened the week lower after Saudi Arabia’s tender came in sharply priced, while soybeans and corn also finished slightly weaker. Market reaction to the Trump–Xi call remained muted, particularly for soybeans, where repeated political signals have not delivered the expected demand. Saudi Arabia’s GFSA bought 300k tons of wheat for March–April arrival at $257.96–$259.74/t CnF, roughly $5–$5.50 below the previous tender, with February slots skipped. Russian 12.5% protein wheat eased by $1 to $228/t FOB according to IKAR, and MARS reported that winter-cereal sowing in Europe is largely complete under mostly favorable conditions. US winter wheat conditions improved to 48% good/excellent, two points above the five-year average.
USDA confirmed private sales of 123k tons of US soybeans to China, bringing known 25/26 sales to 1.94 mmt, with an additional 0.62 mmt sold to “unknown” since October. Weekly US export inspections showed 799k tons of soybeans, 1,632k tons of corn, and 475k tons of wheat. No soybeans were shipped to China, leaving total inspections well behind last year’s levels.
Freight
Freight Recap:
27/11/25
Nov 27, 2025
The dry bulk market showed a mostly subdued performance, with Handysize and Supramax sentiment remaining soft across both basins and Panamax maintaining a firm, steady tone driven by continued grain activity. The Atlantic saw mixed conditions, with smaller segments facing limited enquiry while Panamax benefitted from solid U.S. Gulf and East Coast support. In the Pacific, Handy/Supra sectors stayed muted, whereas Panamax demand from Indonesia and Japan kept momentum intact despite some easing in Chinese interest.
Commodities
Agri- Commodities:
17-21/11/25 Agri
Nov 24, 2025
The rebound in soybeans and Chicago wheat was even more impressive than Friday’s plunge, driven this time by actual Chinese purchases rather than political promises. US wheat rallied alongside soybeans on talk of Chinese demand, though without confirmation that wheat was included, while MATIF wheat lagged despite a weaker EUR/USD. USDA corrected Friday’s missing flash sales by trimming US soybean sales to China by 100k tons, yet sentiment stayed upbeat on reports that China bought at least 14 US cargoes. NOPA reported a record October crush of 227.65 mbu, suggesting stronger domestic use may offset some export weakness. Weekly inspections showed soybeans at 1,176k tons, corn at 2,054k tons, and wheat at 247k tons; cumulative soybean inspections remain down 7.5 mmt y/y while corn is up 6.7 mmt.
Russian 12.5% wheat FOB for late December fell $3 w/w to $229/t, while Poland reported sabotage on a key rail line used to send aid and weapons to Ukraine. Based on cumulative inspections so far this marketing year, wheat needs to maintain last year’s pace to meet USDA’s export forecast, soybeans need to accelerate, and corn could afford to slow.
