Agri- Commodities: 16-20/09/24
Sep 23, 2024
Monday, wheat prices fell sharply, erasing Friday’s gains as traders took profits amid easing tensions between Russia and NATO. IKAR raised Russian wheat prices slightly to $216/ton FOB for October shipments. In Canada, wheat production was revised to 34.3 mmt, slightly lower than previous estimates but still up year-over-year.
U.S. weekly export inspections showed solid wheat volumes, but corn and soybean figures underperformed. U.S. corn crop conditions improved to 65% good/excellent, while soybeans dipped to 64%. Harvest progress was ahead of the 5-year average, with 9% of corn and 6% of soybeans harvested.
On Tuesday the wheat prices continued to decline, while oilseeds gained on stronger energy markets. France’s soft wheat crop estimate was lowered to 25.8 mmt, while maize production was increased to 14.4 mmt. Ukraine’s wheat and rapeseed exports were strong, but corn exports lagged.
SovEcon raised Russia’s 2024/25 wheat forecast to 82.9 mmt. Brazil’s first estimates for 2024/25 projected a strong 119.8 mmt corn crop and a record 166.3 mmt soybean crop. Traders awaited the Federal Reserve’s interest rate decision, which added to market uncertainty.
Middle of the week, wheat and corn prices remained flat in a choppy session following the Federal Reserve’s 50 basis point rate cut. France AgriMer reduced soft wheat export forecasts to EU and third countries, reflecting weaker demand. Tunisia tendered for 125k tons of soft wheat and 100k tons of durum.
Non-commercial traders trimmed net short positions in MATIF wheat, while futures prices made minor gains. The Fed’s move suggested further rate cuts could follow as inflation nears target.
On Thursday the wheat futures dropped sharply due to weak U.S. export sales, while grain markets overall closed lower. The International Grains Council cut its global corn production estimate to 1,224 mmt and wheat to 798 mmt for 2024/25.
Tunisia secured 125k tons of soft wheat and 100k tons of durum wheat. U.S. export sales were robust for soybeans (1.76 mmt) but disappointing for wheat (258k tons), pressuring U.S. wheat futures.
End of the week, corn and soybeans eased as the U.S. harvest progressed. Wheat prices on CBOT and MATIF saw minor gains but closed below session highs.
Weather concerns in Argentina and Australia persisted, threatening wheat crop yields. Argentina reported potential area losses, while Western Australia’s wheat yield potential weakened due to dry conditions. Funds trimmed their net short positions in soybeans and wheat, while adding slightly to corn shorts.
Weekly Recaps
Commodities
Agri- Commodities:
11-15/08/25 Agri
Aug 18, 2025
Grain markets experienced another volatile week as political developments, trade disputes, and bearish USDA data drove sentiment. Early in the week, soybeans surged on speculation that Chinese buying might resume following Donald Trump’s extension of tariff pauses, but corn and wheat failed to follow. Export inspections painted a mixed picture, with corn and soybeans performing well while wheat lagged. The USDA’s August WASDE loomed large over the market, with traders bracing for higher yield estimates.
Freight
Freight Recap:
14/08/25
Aug 14, 2025
The dry bulk market presented a mixed performance this week, with the Supramax segment edging higher, Handysize holding steady with minor gains, and Panamax showing a regional split — weaker in the Atlantic, firmer in the Pacific.
Commodities
Agri- Commodities:
04–08/08/25 Agri
Aug 11, 2025
Grain markets swung sharply this week, rebounding midweek before easing, driven by yield outlooks, export data, and geopolitical headlines.
Freight
Freight Recap:
7/08/25
Aug 07, 2025
Port of Callao halted operations after an Evergreen ship lost 50 containers during rough weather. Meanwhile, July's freight data shows the market stuck in a supply-heavy “holding pattern,” with capacity expanding but pricing rising faster — suggesting a slow, uneven recovery in logistics and transportation
