Weekly Agri- Commodities Recap: 26/02-01/03/24
Mar 04, 2024
The grain markets this week were marked by significant volatility and varied factors driving price movements, and the week kicked off with a rise in grain prices, particularly wheat, which was buoyed by bargain buying despite China's cancellation of SRW wheat orders. This cancellation marked 0.5 million metric tons of abandoned sales since March 7.
Key reports and data releases provided insights into global supply and demand conditions amid these market dynamics. The USDA's weekly export inspections offered a snapshot of international demand, with varying figures across different grains – soybeans witnessed a decrease in inspections compared to the previous week. In contrast, corn and wheat saw more robust activities.
The planting intentions reported by Canadian farmers indicated a stable wheat acreage but a shift towards more durum wheat at the expense of spring/winter wheat varieties. This could imply a strategic adaptation to market demands and climatic conditions. Furthermore, significant changes in other crops' acreage, such as increased oats and decreased barley and canola, could influence feedstock availability and subsequent grain market dynamics.
From an international perspective, the Brazilian and Ukrainian crop estimates further complicate the outlook for global grain supply. Brazil’s CONAB reduced its soybean and corn production estimates, intensifying concerns over global soy supply and potentially boosting market prices. Ukrainian grain and oilseed harvest projections painted a grim picture, with expected reductions in corn, wheat, and sunflower seed outputs, likely tightening global supplies and supporting prices.
The global wheat trade continued to be shaken by additional Chinese cancellations, this time extending to Australian wheat, reflecting the ongoing complexities of international trade relationships and their unpredictability. This was compounded by the EU's technical issues, which hindered the availability of timely export/import data, adding to market uncertainties.
Wednesday’s market activities saw a downturn for most grains, except soybeans. This shift was attributed to ongoing rumours and confirmed reports of Chinese cancellations, impacting global market sentiments. The adjustments in French wheat and barley stock forecasts further contributed to Europe's intricate balance of supply and demand, showcasing how regional crop conditions can have widespread effects.
By Thursday, the grain markets were enveloped in a sense of caution, with U.S. wheat futures leading declines amid a broader market apprehension. The International Grains Council's projections provided a slightly optimistic global outlook, yet localized challenges such as the German wheat production downturn highlighted the fragility of global supply chains. The day also underscored the environmental factors, with NOAA's La Niña forecast suggesting potential disruptions to agricultural patterns worldwide.
The week concluded on a sad note for U.S. wheat, which was impacted by continued selling and China's cancellation of SRW wheat purchases. However, the market found some solace in positive developments, such as the worsening condition of French soft wheat and the USDA’s report of private corn sales.
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.
