Agri- Commodities: 24-28/2/25
Mar 03, 2025
Monday: The week opened on a weak note, with grain prices under pressure. Weather conditions improved in key regions, as the cold spell in the U.S. receded, and heavy rains in Argentina provided relief. Russian wheat FOB prices edged higher, surpassing the second-nearest MATIF contract for the first time in nearly a year. Meanwhile, Brazil’s soybean production estimate was revised lower by AgRural, signaling a potential end to the recent trend of upward adjustments. The EU crop monitoring committee reported generally stable conditions but noted irreversible losses in parts of Ukraine, Morocco, and Algeria. On the demand front, Algeria and Iran issued tenders for corn, barley, and soymeal.
Tuesday: Wheat markets showed mixed performance. While nearby MATIF wheat closed slightly higher, U.S. wheat futures extended their losses, erasing the weather premium added last week. The euro’s strength widened the MATIF-CBOT spread. Algeria purchased 150-170k tons of soft wheat at prices ~$10/ton higher than previous deals, while Bangladesh secured 50k tons of milling wheat at $295.21/ton CIF. Jordan, however, passed on its latest wheat tender. Russian wheat export forecasts were lowered. A strengthening Russian ruble is making Russian wheat less competitive, though lower export taxes may offset some of the impact.
Wednesday: Grain and oilseed prices remained under pressure ahead of the USDA’s Agricultural Outlook Forum. Market expectations pointed to an acreage increase for U.S. corn and wheat, while soybean acreage was projected to decline. President Trump’s mixed messages on tariffs for Mexico and Canada created uncertainty. Analyst polls suggested U.S. corn area could rise by 3 million acres, wheat by 0.6 million, and soybeans could decline by 2.7 million. Corn and wheat stocks were seen increasing, while soybean stocks were expected to hold steady. Non-commercial traders modestly expanded their net short in MATIF wheat, while speculators extended their record-long position in MATIF rapeseed.
Thursday: Markets tumbled following the USDA Forum’s bearish acreage projections. U.S. wheat and corn futures plunged, while soybeans, initially supported by the outlook, were dragged lower by weakness in the other grains. Euronext wheat held firmer, supported by a weaker euro and cuts to Russian export forecasts. IKAR analysts trimmed their Russian wheat export forecast and narrowed their production range. U.S. weekly export sales were disappointing, with wheat and corn falling below expectations. Tunisia entered the market for 25k tons of wheat, while the USDA Forum reinforced expectations of a sharp acreage shift from soybeans to corn in the U.S. Ukraine is also expected to favor corn over oilseeds in its upcoming planting season.
Friday: The week ended on a sour note, with U.S. wheat and corn futures failing to post a single positive session. MATIF milling wheat was the only bright spot, supported by a slight deterioration in French soft wheat conditions. Corn prices have corrected ~10% from their February highs as bullish factors fade, and uncertainty over U.S. trade policy persists. Funds' positioning suggests they remain heavily long in corn. Tunisia secured 25k tons of wheat at $262.12/ton C&F, while the USDA confirmed private soybean oil sales. Despite this, soybean oil futures slumped nearly 3%. Speculators were net sellers in corn, soybeans, and wheat, though the positioning adjustments were milder than expected.
Weekly Recaps
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.
Freight
Freight Recap:
06/11/25
Nov 06, 2025
The dry bulk market experienced a generally softer tone this week, with most segments facing mild corrections. The Handysize and Supramax sectors saw limited fresh activity, while the Panamax market showed brief midweek stability before continuing its downward trajectory. Weak demand across basins and growing vessel availability placed pressure on rates, though select regional improvements offered some support.
Commodities
Agri- Commodities:
27-31/10/25 Agri
Nov 03, 2025
Grain markets opened the week firmer after upbeat headlines on a potential U.S.–China trade deal lifted risk appetite across commodities. The optimism came despite limited clarity on agricultural commitments and lingering pressure from weaker export data.
Russian wheat prices were slightly lower, while EU maize yields were trimmed further. In Argentina, the peso strengthened after President Javier Milei’s party secured a midterm victory. U.S. harvest progress advanced, though export inspections remained subdued.
