Agri- Commodities: 13-17/1/25
Jan 20, 2025
Monday Corn and soybeans carried over Friday's bullish momentum, supported by a favorable USDA report, while CBOT wheat also strengthened, likely driven by short covering by funds. Robust U.S. export inspections added to the optimism, with corn volumes exceeding expectations at 1.44 million tons. However, concerns over Argentina's crops emerged as heat waves and inadequate rains threatened yields. Meanwhile, funds extended their net long positions in corn while trimming shorts in soybeans, signaling a bullish stance on the complex.
Tuesday The rally in corn and soybeans faltered, with both commodities closing lower despite early gains. Wheat prices diverged, as CBOT wheat edged slightly higher, but European MATIF wheat declined notably. Brazil’s CONAB made minor revisions to its crop forecasts, with discrepancies against USDA estimates remaining significant. U.S. CPI data loomed over markets, while Jordan secured milling wheat at a marginally lower price, reflecting competitive dynamics in international trade.
Wednesday Markets were directionless, ending mixed across the board. Corn held steady near a seven-month high, while soybeans declined for the second straight session. MATIF wheat saw continued pressure despite marginal gains in CBOT wheat. FranceAgriMer maintained its soft wheat export forecast but nudged ending stocks slightly higher. Ukrainian farmers signaled intentions to pivot away from soybeans toward corn, reflecting market shifts. Meanwhile, NOPA's record soybean crush highlighted strong processing demand in the U.S.
Thursday Soybeans led a broad-based market decline, driven by wetter forecasts for Argentina and improved outlooks for Brazil’s crop. U.S. weekly export sales were mixed, with disappointing soybean sales contrasting with decent corn and wheat volumes. Winterkill risks emerged for U.S. wheat regions due to expected cold snaps.
Friday Corn and soybeans rallied ahead of the U.S. three-day holiday weekend, buoyed by weather concerns in Argentina and renewed optimism following a constructive call between U.S. and Chinese leaders. However, China's December grain import data revealed stark year-over-year declines, with corn and wheat imports falling 93% and 75%, respectively. Fund activity highlighted notable shifts: funds aggressively bought soybeans, flipping to a net long position, while extending their net longs in corn and increasing net shorts in wheat.
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.
