Agri- Commodities: 16-20/02/26
Feb 23, 2026
Monday
With the US on holiday, MATIF wheat traded in narrow ranges on thin volume, while CBOT reopened lower as Friday’s negative tone carried over. Weekly US data releases are delayed by one day. According to IKAR, Russian 12.5% wheat FOB for March shipment rose slightly week on week.
Morocco expects its cereals harvest to nearly double after a very wet winter, though storms have congested major ports and left around 70 wheat vessels waiting. USDA’s Agricultural Outlook Forum (Feb 19–20) is set to outline the first major “US corn vs soy” narrative ahead of planting. China remains largely absent due to Lunar New Year holidays, while new US-mediated Russia-Ukraine talks in Geneva face low expectations ahead of the February 24 invasion anniversary.
Tuesday
Soybeans posted small gains, supported by expectations of further Chinese demand and strong US crush data, while corn and wheat corrected lower. Geneva talks between Ukraine, Russia, and the US ended day one without visible progress.
The European Commission updated EU export data, lifting soft wheat exports above last year’s level, partly due to a reclassification from durum. US export inspections showed solid corn demand and record January soybean crush from NOPA, reinforcing strength in domestic processing. Jordan passed on its latest wheat tender.
Wednesday
Markets were broadly firmer, led by US wheat as short covering accelerated amid geopolitical headlines and crop concerns. Soybeans faded intraday gains. Ukraine warned that ice crust damage could threaten winter crops following rapid temperature swings.
Ahead of the Agricultural Outlook Forum, analysts projected lower US corn acreage and higher soybean plantings for 2026. Oil prices jumped after US-Iran tensions intensified, while Russia-Ukraine talks in Geneva ended abruptly with key territorial disputes unresolved. Fed minutes showed policymakers divided, preferring to pause rate cuts for now.
Thursday
Wheat extended its rally, breaking above key technical levels as short covering continued. US futures led gains on weather concerns, and MATIF milling wheat moved out of its recent range on strong volume.
USDA’s Outlook Forum projected planted area broadly in line with expectations. Corn ending stocks are seen tightening in 26/27, while soybean and wheat stocks remain stable. The US drought monitor showed nearly half of winter wheat areas affected by drought, while wildfires in the southern Plains underscored rising weather risks.
Friday
Wheat posted a third consecutive strong gain, with funds reducing remaining short exposure. May MATIF reached a three-month high, while Chicago climbed to levels not seen in several months. Corn followed higher, while soybeans slipped on US tariff headlines.
FranceAgriMer reported French crop ratings still well above last year despite a weekly decline. US export sales showed steady corn demand and softer wheat sales. Argentina’s rains improved crop conditions. The US Supreme Court struck down Trump’s global tariffs, prompting a temporary 15% tariff response under Section 122 ahead of the March 31 Beijing summit.
Weekly Recaps
Commodities
Agri- Commodities:
02-06/03/26 Agri
Mar 09, 2026
Grain markets started the week with strength, briefly pushing wheat and soybeans to new multi-month highs before quickly reversing. Chicago wheat failed to hold above the key $6 level and sold off sharply as the dollar strengthened and U.S. equities recovered. The rapid turnaround highlighted the unstable environment, with volatility remaining the dominant feature as the Middle East conflict continues to shape broader market sentiment.
Freight
Freight Recap:
03/03/26
Mar 05, 2026
Dry bulk sentiment stayed mixed this week. The larger sizes cooled slightly after a strong run, but the geared segments held a firmer tone and Panamax continued to show a clear Atlantic versus Pacific split. Activity levels were decent, yet the market is still being steered by regional positioning, prompt list tightness, and a heavier ris
Commodities
Agri- Commodities:
23-27/02/26 Agri
Mar 02, 2026
Financial markets started the week under pressure amid uncertainty over US tariff policy. Ag markets closed mixed but mostly lower. Corn managed small gains on strong US exports, while wheat paused after its recent rally. Attention centered on Algeria’s tender, with results expected later in the day. The EU warned that Trump’s new global tariff could push duties on some EU exports above the 15% cap agreed in the trade deal, prompting the European Parliament to pause approval pending clarification from Washington.
Freight
Freight Recap:
26/02/26
Feb 26, 2026
Headline indices are sending mixed signals. The composite dry index has softened slightly compared with last week as Capesize corrects, but the picture in our space is clearly firmer: Panamax, Supramax and Handysize averages have all moved higher through late February, with the sharpest daily gains on the geared indices in the last couple of sessions.
