Agri- Commodities: 30/09/2024 - 4/10/24
Oct 07, 2024
Corn prices surged on Monday, fueled by tighter-than-expected U.S. ending stocks for 2023/24. Wheat followed with moderate gains, though its stock figures were less supportive. Soybeans, however, slipped as forecasts pointed to wetter conditions in Brazil’s growing regions. A significant factor looming over the week was the strike by dockworkers across U.S. East and Gulf Coast ports, which raised concerns over supply chain disruptions. Meanwhile, U.S. grain stock reports painted a mixed picture: corn stocks were 29% higher year-on-year but missed expectations, while soybean and wheat stock levels were more aligned with projections. Harvest progress showed that U.S. farmers had collected 21% of corn and 26% of soybeans by the end of September.
Wheat and corn extended gains on Tuesday, driven by heightened geopolitical risks and weather concerns in key Russian grain regions. CBOT wheat December futures surpassed the 600 mark, while corn hit levels not seen since June, breaching the 100-day moving average. Iran's missile attack on Israel exacerbated tensions in the Middle East, sending oil prices sharply higher. Meanwhile, reports indicated that Morocco would likely increase its wheat imports from Russia over France due to poor French harvest conditions. USDA data confirmed strong private sales of corn and soybeans, offering further support to the grain markets.
Wheat dominated the market on Wednesday, with short covering and supportive news driving prices higher. Corn posted smaller gains but lacked a strong narrative. Market focus shifted to Russia and Ukraine, where Russian drone attacks on grain facilities raised concerns over supply disruptions. Russia also warned of unfavorable weather for winter crops, further elevating wheat prices. Egypt continued to secure large wheat purchases from Black Sea origins, while Algeria issued a new tender for corn.
The rally in corn and wheat paused on Thursday as prices retreated amidst lighter news flow. Weather forecasts pointed to favorable U.S. harvest conditions over the weekend, while oil prices continued to rise amid escalating tensions in the Middle East. Reports suggested that China’s corn and wheat imports may fall below USDA projections, adding some bearish sentiment to the market. Despite this, U.S. weekly export sales revealed robust demand, particularly for corn, which exceeded expectations at 1.68 million tons.
Grain prices edged lower on Friday, pressured by an advancing U.S. harvest and a strengthening U.S. dollar. Traders braced for a potentially turbulent week ahead, with upcoming U.S. inflation data and Friday’s USDA WASDE report expected to bring significant market impacts. Fieldwork delays in France and a strong Kazakh wheat harvest provided mixed signals for global supply. In terms of fund activity, large short-covering positions were evident in corn and soybeans, while wheat saw more modest position adjustments despite a recent price rally.
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.
