Agri- Commodities: 4-8/11/24
Nov 11, 2024
Grain prices opened the week with mixed movements; only December MATIF futures saw a notable decline, falling 1.5%. In global trade, Egypt’s GASC secured 290,000 tons of wheat from Ukraine, Bulgaria, and Romania at competitive prices, while Russian and French offers struggled to compete. Meanwhile, U.S. corn and soybean harvests approached completion at 91% and 94%, respectively. Winter wheat plantings reached 87%, buoyed by timely rains improving crop conditions. U.S. weekly export inspections saw soybean focus remain steady, although both corn and wheat inspections slowed seasonally. Additionally, OPEC+ extended output cuts, sparking oil price hikes, an indirect factor for agri-commodity inflation.
On Tuesday, Election Day in the U.S. injected volatility into markets as the election results showed a Trump lead, strengthening the dollar and weakening soybeans, wheat, and corn amid lower commodity pricing power. Grain prices closed higher overall, but MATIF wheat remained flat while rapeseed declined. Jordan secured 60,000 tons of milling wheat at a slight premium over prior purchase, and the USDA reported private sales of 124,000 tons of corn. Anticipation built for Friday’s USDA World Agricultural Supply and Demand Estimates (WASDE), with projections suggesting potential downward revisions in U.S. corn and soybean production and global carryout across major grains.
Middle of the week, markets saw initial pressure following U.S. election outcomes but recovered by the close, aided by gains in Euro-denominated grain prices, driven by a weaker EUR/USD exchange rate. Non-commercial traders were active, expanding net short positions in MATIF wheat while increasing long positions in rapeseed, aligning with a slight price rise. With the Federal Reserve set to cut interest rates by 25 basis points, traders awaited potential policy signals on future rate adjustments amidst recent U.S. election results and slower economic indicators.
On Thursday, Corn and soybeans extended their rally, marking consecutive daily gains driven by a robust vegetable oil market that buoyed soybean prices. Wheat, however, remained range-bound, while MATIF wheat prices continued their subdued trend despite euro weakness. The USDA released its 2025/26 baseline projections, estimating relatively unchanged wheat acreage but modestly higher corn plantings and a reduction in soybean area. Meanwhile, Algeria and Bangladesh issued new wheat and corn tenders, and weekly U.S. export sales were led by strong corn transactions. The Federal Reserve’s rate cut came with caution on future policy adjustments, adding uncertainty to market sentiment.
Friday closed with CBOT corn and soybeans on a positive streak, wrapping up an uninterrupted week of gains, though USDA’s WASDE report provided mixed support. U.S. soybean yield expectations were revised downward from record highs, while projections for average farm prices held steady for corn and soybeans, with a slight drop in wheat price projections. Notably, the USDA reduced China’s corn and wheat import needs by 3 mmt and 0.5 mmt, respectively. More private export sales were reported for corn and soybeans, yet soybean export estimates were adjusted downward, leaving corn projections untouched. Meanwhile, French soft wheat sowing lagged historical averages slightly, and funds turned net-long in corn while holding short positions in soybeans and wheat.
Weekly Recaps
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.
Freight
Freight Recap:
04/12/25
Dec 04, 2025
The dry bulk market saw a generally mixed performance, with Handysize remaining supported in the Atlantic, Supramax showing uneven movement across regions, and Panamax continuing its correction as rising vessel supply weighed on sentiment. Atlantic dynamics were split between firmer US Gulf/US East Coast activity in the smaller segments and softer conditions for Panamax. In the Pacific, muted enquiry and longer lists contributed to a softer tone, especially in NoPac, though isolated strength persisted in Australian coal.
Commodities
Agri- Commodities:
24-28/11/25 Agri
Dec 01, 2025
Wheat opened the week lower after Saudi Arabia’s tender came in sharply priced, while soybeans and corn also finished slightly weaker. Market reaction to the Trump–Xi call remained muted, particularly for soybeans, where repeated political signals have not delivered the expected demand. Saudi Arabia’s GFSA bought 300k tons of wheat for March–April arrival at $257.96–$259.74/t CnF, roughly $5–$5.50 below the previous tender, with February slots skipped. Russian 12.5% protein wheat eased by $1 to $228/t FOB according to IKAR, and MARS reported that winter-cereal sowing in Europe is largely complete under mostly favorable conditions. US winter wheat conditions improved to 48% good/excellent, two points above the five-year average.
USDA confirmed private sales of 123k tons of US soybeans to China, bringing known 25/26 sales to 1.94 mmt, with an additional 0.62 mmt sold to “unknown” since October. Weekly US export inspections showed 799k tons of soybeans, 1,632k tons of corn, and 475k tons of wheat. No soybeans were shipped to China, leaving total inspections well behind last year’s levels.
