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:
16-20/02/26 Agri
Feb 23, 2026
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
Freight
Freight Recap:
19/02/26
Feb 19, 2026
The dry bulk market opened the week with a generally subdued tone, influenced by ongoing Lunar New Year holidays in Asia and mixed regional sentiment. While the Atlantic basins showed pockets of resilience across segments, Asian activity remained muted with limited fresh enquiry and ample tonnage supply. Panamax displayed a clear Atlantic–Pacific divergence, and period interest provided selective support in both Panamax and Supramax. Broader market commentary points to firm grain exports and constructive expectations for Q1, particularly in Panamax and Capesize.
Commodities
Agri- Commodities:
09-13/02/26 Agri
Feb 17, 2026
The week started with prices mostly in the red, as the recent soybean rally appeared to lose momentum in a classic buy-the-rumor, sell-the-fact reaction. USDA confirmed private sales of 264k tons of US soybeans to China for 2025/26 delivery, yet prices still moved lower. Weekly US export inspections showed solid corn and wheat movement, while soybeans lagged on a year-on-year basis. Russian 12.5% wheat FOB values held steady at $231 for March shipment, acting as a headwind for MATIF amid a stronger euro.
Commodities
Agri- Commodities:
26-30/01/26 Agri
Feb 02, 2026
Prices started the week lower across the board, led by US wheat. Weather-risk fears that pushed prices higher late last week eased, as winterkill damage is historically difficult to evaluate and often fades quickly from focus. CBOT weakness came despite further USD softening, suggesting the prior rally had been stretched.
