Weekly Agri- Commodities Recap: 19-23/08/24
Aug 26, 2024
On Monday Grain markets opened the week with mixed results. Corn and soybeans recovered from oversold levels, aided by solid U.S. export data and private sales, including 332,000 tons of soybeans to China. However, December MATIF wheat futures fell to new lows due to a stronger Euro and increased Russian wheat exports, which saw prices drop to $218 per ton FOB. Egypt's Supply Minister reaffirmed plans to secure 3.8 million tonnes of wheat by year-end.
On Tuesday Wheat futures continued to struggle amid a stronger Euro. U.S. wheat futures saw modest gains, while corn and soybean prices dipped slightly. Russia maintained its grain harvest forecast, though SovEcon increased their wheat production estimate. Tunisia issued a tender for 75,000 tons of soft wheat, and Jordan canceled its wheat tender. The USDA reported private soybean sales of 132,000 tons to China and 239,500 tons to Mexico. Pro Farmer Crop Tour results showed slight increases in Indiana and Nebraska corn yields but fell short of USDA projections.
Middle of the week, Wheat futures dropped over 2%, while corn prices held steady and soybeans gained. A potential Canadian rail strike created market uncertainty. In India, high wheat prices led to calls for government intervention and the removal of import taxes. Tunisia purchased 75,000 tons of soft wheat at prices between $242.99 and $246.00 per ton. Pro Farmer Crop Tour reported Illinois corn yields up 5.4% year-over-year, with mixed results in Iowa. Non-commercial traders’ short positions in MATIF milling wheat exceeded 100,000 contracts.
On Thursday, Grain prices fell, with wheat futures hitting new lows. U.S. export sales were robust, including 493,000 tons of wheat, 1.41 million tons of corn, and 1.63 million tons of soybeans. Jordan issued new tenders for wheat and barley. Pro Farmer Crop Tour reported a decrease in Minnesota corn yields to 164.9 bu/a, while Iowa yields matched USDA expectations at 192.79 bu/a (considering historical differences). The market awaited further Fed commentary from Jackson Hole.
End of the week, Soybean prices rose, supported by strong export sales and higher energy markets. Corn and wheat prices reached new lows. Pro Farmer estimated a national corn yield of 181.1 bu/a, below USDA’s forecast, and a soybean yield of 54.9 bu/a, above USDA’s estimate. The USDA reported a private sale of 120,000 tons of soybeans. Fed Chair Powell’s Jackson Hole speech suggested imminent rate cuts, strengthening the EUR/USD. Funds reduced their net short positions in CBOT wheat but increased short positions in corn and soybeans.
Weekly Recaps
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.
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.
