Agri- Commodities: 14/10/2024 - 18/10/24
Oct 21, 2024
The week kicked off with lower grain prices across the board in a session devoid of major news. Improved weather conditions in key production regions like Russia and Brazil contributed to the bearish sentiment. U.S. federal holiday delayed key reports like export inspections and crop progress. Ongoing missile attacks on Ukraine's Black Sea infrastructure, which hit a fourth cargo ship, kept geopolitical risks alive. Russian wheat prices continued to rise, now at $230/ton for 12.5% protein wheat, while Saudi Arabia secured 360k tons of wheat for delivery in early 2025.
On Tuesday, Corn and soybeans saw a fourth consecutive day of losses, driven by rapid U.S. harvest progress and beneficial rains in Brazil. Wheat prices also softened, reflecting favorable weather in Russia and the U.S. Plains. Russia's Grain Exporters Union introduced indicative export prices to stabilize the market, while Brazil's crop estimates were slightly lowered for corn and soybeans. France revised its soft wheat production estimate downward, and EU wheat exports showed a modest increase. U.S. export inspections revealed disappointing corn numbers, and favorable weather accelerated harvests, pushing U.S. corn and soybean harvest progress above five-year averages.
Middle of the week, wheat and corn prices finally reversed their downward trend, though soybeans continued to struggle. A key factor was strong U.S. corn sales, particularly to Mexico. FranceAgriMer kept its wheat export forecast stable but revised down ending stocks due to higher feed use. India raised wheat procurement prices to encourage domestic production. A study highlighted the potential negative impact of a U.S.-China trade war on American grain exports, especially soybeans and corn. Additionally, non-commercial participants extended their long positions in rapeseed, which saw a price increase.
On Thursday, grains rebounded, with soybeans breaking a five-day losing streak due to bargain buying. The International Grains Council maintained its corn and wheat production forecasts for the 2024/25 season. Russia’s approval for Kazakh grain transits, while banning imports, added complexity to regional trade flows. Russian wheat exports remained robust, outpacing last year’s figures for the July-October period. Jordan reissued tenders for wheat and barley after cancellations earlier in the week. The EUR/USD hit a multi-month low as the ECB cut interest rates again, adding pressure to dollar-denominated commodity prices.
Wheat ended the week on a weak note, with Chicago wheat prices falling nearly 3% as traders digested the ongoing impact of Russian grain export dominance. Soybeans also erased Thursday's gains, with favorable weather in Brazil easing concerns about crop losses. The Russian Grain Union's initiative to bypass foreign intermediaries in grain sales could reshape global trade flows. Chinese corn imports plunged 81% year-on-year in September, while wheat imports were also sharply lower. U.S. weekly export sales were strong for corn, reaching levels not seen since March 2023, while speculative short covering in CBOT corn and soybeans wound down after a turbulent week of trading.
Weekly Recaps
Freight
Freight Recap:
18/12/25
Dec 18, 2025
The dry bulk market saw a softer overall tone, with Handysize holding largely flat, Supramax weakening across both basins, and Panamax continuing its decline despite some localized Atlantic support. Activity levels remained muted in many regions, with owners increasingly seeking cover ahead of the holiday period. The Atlantic showed mixed signals across segments, while the Pacific faced longer tonnage lists and weaker demand, keeping pressure on rates.
Commodities
Agri- Commodities:
08-12/12/25 Agri
Dec 15, 2025
CBOT markets finished lower ahead of Tuesday’s WASDE, which was widely expected to lack bullish surprises. MATIF wheat was the exception, posting small gains. Russian 12.5% protein wheat FOB for January delivery edged up by $0.5 w/w to $227.5/t, according to IKAR. Geopolitical headlines remained in focus after Ukrainian President Volodymyr Zelenskiy said US-brokered peace talks remain stalled over security guarantees and control of eastern Ukraine, particularly the Donbas.
Freight
Freight Recap:
11/12/25
Dec 11, 2025
The dry bulk market saw a softer overall tone, with Handysize holding largely flat, Supramax weakening across both basins, and Panamax continuing its decline despite some localized Atlantic support. Activity levels remained muted in many regions, with owners increasingly seeking cover ahead of the holiday period. The Atlantic showed mixed signals across segments, while the Pacific faced longer tonnage lists and weaker demand, keeping pressure on rates.
Commodities
Agri- Commodities:
01-05/12/25 Agri
Dec 08, 2025
USDA announced no new flash sales, disappointing soybean markets. Weekly export sales remain delayed and have not yet reached the period covering the US–China trade deal, leaving the true pace of buying uncertain. CBOT corn and wheat eased, while March MATIF wheat posted small gains after finding support at intraday contract lows. ABARES raised Australia’s 2025/26 wheat, barley, and canola output, though the increases were broadly in line with expectations. Algeria’s OAIC issued a soft wheat tender for February shipment, and Russian wheat prices slipped again, with 12.5% FOB for January at $227/t.
