Weekly Agri- Commodities Recap: 19-23/02/24
Feb 26, 2024
The grain market commenced the week on a subdued note, with May MATIF milling wheat prices extending their downward trajectory for the sixth consecutive day amidst a backdrop of low-volume trade and fierce competition for demand. This declining trend, reflective of broader market sentiments, underscored major grain commodities' challenges as they navigated through a complex matrix of global events.
As the week unfolded, a momentary respite was observed, particularly in the US, where wheat prices experienced notable gains primarily fueled by short-covering activities. However, this upward momentum proved ephemeral, failing to sustain as the week drew to a close, culminating in a downturn that saw new lows being recorded for corn and soybeans.
Various vital factors significantly shaped the week's price dynamics. Supply and demand dynamics emerged as a central theme, underscored by the contrasting scenarios between increased grain handling in Romania's port of Constanta and the diminished Ukrainian grain volumes. Weather updates and crop conditions, particularly the adverse weather impacts on Argentine corn and soybean production estimates, further complicated the global supply outlook.
Trade news and export data added another layer of complexity, with developments like Jordan's reduced-price wheat purchases and India's extension of its rice export duty influencing market sentiments. Additionally, financial markets and currency movements, particularly the fluctuations in the EUR/USD exchange rate and insights from the Federal Reserve's meeting minutes, played a crucial role in shaping grain prices, impacting MATIF wheat gains amidst a strengthening euro.
The repercussions of these dynamics were felt across various regions. In Europe, ongoing MATIF wheat price declines were compounded by farmer protests in Czech, Slovak, and Polish territories, affecting trade dynamics and market sentiment. In Asia, initiatives like India's rice export duty extension and Bangladesh's wheat tender reflected regional efforts to stabilize domestic stock levels and manage food prices. The Middle East saw continued grain demand, as evidenced by Jordan's grain tenders and Tunisia's wheat purchases. At the same time, the Americas grappled with mixed export signals and policy developments, notably the US's reduced export sales and delayed ethanol policy adjustments.
The grain market is poised for continued volatility, with future directions likely influenced by an intricate interplay of supply adjustments, weather conditions, geopolitical events, and financial market shifts. Stakeholders are advised to remain attuned to upcoming government meetings, policy decisions, export data, and global agricultural developments, as these factors are expected to play pivotal roles in shaping market dynamics.
In conclusion, the past week in the grain market was characterized by significant volatility and a series of price adjustments. As stakeholders navigate through these turbulent waters, staying informed and vigilant will be essential to effectively managing risks and identifying potential opportunities in the evolving grain market landscape.
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.
