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:
6/11/25
Nov 06, 2025
The dry bulk market experienced a generally softer tone this week, with most segments facing mild corrections. The Handysize and Supramax sectors saw limited fresh activity, while the Panamax market showed brief midweek stability before continuing its downward trajectory. Weak demand across basins and growing vessel availability placed pressure on rates, though select regional improvements offered some support.
Commodities
Agri- Commodities:
27-31/10/25 Agri
Nov 03, 2025
Grain markets opened the week firmer after upbeat headlines on a potential U.S.–China trade deal lifted risk appetite across commodities. The optimism came despite limited clarity on agricultural commitments and lingering pressure from weaker export data.
Russian wheat prices were slightly lower, while EU maize yields were trimmed further. In Argentina, the peso strengthened after President Javier Milei’s party secured a midterm victory. U.S. harvest progress advanced, though export inspections remained subdued.
Freight
Freight Recap:
30/10/25
Oct 30, 2025
Freight markets continued to ease across the board this week, with Panamax, Supramax, and Handysize segments all facing renewed pressure. Sentiment turned cautious as limited fresh demand and increasing tonnage lists in both basins weighed on rates, suggesting that the short-lived rally in mid-October may have topped out.
Commodities
Agri- Commodities:
20-24/10/25 Agri
Oct 27, 2025
Grain markets experienced a volatile but directionally mixed week, driven by optimism surrounding renewed US–China trade talks, fluctuating macro sentiment, and shifting global production estimates. Soybeans led early in the week, supported by trade optimism and strong export inspections, while wheat and corn were more restrained, pressured by abundant supply outlooks and mixed demand signals.
Monday began on a firm note, particularly for soybeans, which rallied sharply on upbeat remarks from President Trump about a potential trade deal with China. The oilseed market gained double digits amid rising hopes of resumed Chinese purchases. Wheat and corn, by contrast, traded mixed, with bearish pressure from improved Russian and Australian wheat crop outlooks limiting upside. IKAR raised Russia’s 2025 wheat forecast to 88.0 mmt and Australia’s harvest was seen near 36 mmt—its third largest on record. Still, lower prices encouraged demand, with Algeria issuing a December wheat tender.
