Weekly Agri- Commodities Recap: 26-30/08/24
Sep 02, 2024
The week began with a subdued tone as prices for CBOT corn, wheat, and MATIF milling wheat declined, while soybeans managed to close in positive territory. Traders were cautious, considering the upcoming first notice day for September CBOT futures. The European Commission’s Joint Research Centre (JRC MARS) reduced yield projections for EU soft wheat, corn, and barley due to unfavorable weather conditions. Meanwhile, U.S. crop condition ratings slipped, with corn and soybean conditions slightly below expectations. Despite the general market weakness, soybean prices found some support from a sharp rise in WTI oil prices, driven by concerns over Middle East supply disruptions.
On Tuesday The grain market saw a rebound, with wheat and corn recovering from oversold conditions, while soybeans extended their winning streak, likely supported by bargain buying and weather concerns in the U.S. Jordan’s purchase of 60,000 tons of milling wheat at a lower price than two weeks prior highlighted softening wheat prices.
Mid-week trading was characterized by further gains in MATIF milling wheat, supported by short covering and a weaker EUR/USD. CBOT wheat also posted gains, while corn and soybeans eased as improved U.S. weather forecasts alleviated concerns over potential crop damage. Statistics Canada’s revised wheat production estimate was slightly below expectations but still higher than last year, while canola output exceeded both expectations and last year's figures. In France, updated soft wheat quality data revealed lower protein levels and test weights, although falling numbers were above average, indicating mixed quality results.
On Thursday Grains rallied across the board on Thursday, driven by strong U.S. export sales and further cuts in EU production estimates. U.S. weekly export sales for wheat, corn, and soybeans surpassed expectations, indicating robust international demand. Egypt’s record wheat tender, reportedly driven by geopolitical concerns, underscored the growing demand for wheat amid rising tensions in key exporting regions. Ukrainian grain exports continued at a faster pace than last year, despite the ongoing conflict, suggesting resilience in the country’s export capabilities.
The week ended on a positive note, with wheat prices rising for most of the week, except for Monday. Wheat, corn, and soybean futures closed at or above key psychological levels, supported by fund positioning and strong export demand. SovEcon revised down its Russian wheat production forecast. Speculative funds were less aggressive in shorting CBOT wheat, possibly signaling caution amid price volatility. Inflation data from the U.S. and Eurozone suggested potential interest rate cuts, which could impact currency movements and, by extension, grain prices. Meanwhile, oil prices fell sharply as OPEC+ was expected to increase output, adding a bearish note to the energy complex.
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.
