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
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.
