Subscribe for our latest news, straight to your inbox:
Thank you! Your submission has been received!
Oops! Something went wrong while submitting the form.
Share this post
COMMODITY RADAR | Agriculture Look Back 2026 Q2
The second quarter of 2026 saw strong growth in soybean and corn flows driven by a record Brazilian harvest, while fertilizer flows fell sharply as Arabian Gulf supply disruptions hit Saudi Arabian exports and Brazilian import demand softened.
Global seaborne fertilizer flows fell 12% to reach 48.9 Mt in 2026 Q2
Global seaborne soybean flows grew by nearly 15% to 57.7 Mt in 2026 Q2
Global seaborne corn flows grew by over 14% to 45.6 Mt in 2026 Q2
Global seaborne bulk fertilizer
Global seaborne fertilizer flows declined by 11.7% y/y to 48.9 Mt in Q2 2026. All major exporting regions recorded lower shipments, with Saudi Arabia accounting for the largest decline, as exports fell by around 2 Mt. The Arabian Gulf is one of the world's most important fertilizer exporting regions, and shipments were significantly disrupted by the conflict involving Iran and the resulting disruption to shipping through the Strait of Hormuz.
Among the largest importers, only India recorded growth, as buyers accelerated purchases ahead of the peak kharif planting season. Elsewhere, tighter supply and elevated prices weighed on import demand, with buyers delaying purchases or sourcing from alternative exporting regions where possible.
Global seaborne soybean flows increased by 14.9% year-on-year to 57.7 Mt in Q2 2026, supported by strong export availability from South America. Brazil's large soybean harvest enabled the country to ship an additional 4.9 Mt compared with the same period a year earlier, reinforcing its position as the leading global supplier during the first half of the year. U.S. exports also increased, supported by a low comparison base in Q2 2025 and renewed Chinese buying interest.
Of the 7.5 Mt increase in global soybean flows, almost half was directed to China, where imports rose by 3.5 Mt as buyers capitalised on competitive Brazilian prices following the strong harvest.
Global seaborne corn trade expanded by 14.6% year-on-year to 45.6 Mt during the second quarter of 2026. Higher shipments were observed across every major exporting hub, led by Argentina, where volumes rose by 2.1 Mt over the previous year. Robust harvests and enhanced export surpluses within the primary producing nations underpinned this upward trend in international trade.
The bulk of this surplus was utilized by buyers outside the four largest traditional markets. China emerged with the most significant gains, as its seaborne corn intake more than doubled compared to Q2 2025. This surge was driven by a combination of stock rebuilding, sustained demand for animal feed, and attractive pricing that encouraged importers to secure competitive supplies from key global origins.
Luke has over 8-years of experience analysing and forecasting commodity markets, with particular expertise in stainless steel raw materials and the wider metals markets.
Creating a sustainable world requires us to embark on a journey towards a zero emission future, where every step is a commitment to preserve our planet for future generations.
Albert Greenway
Environmental Scientist, Sustainability Expert
No items found.
Increased Use of Renewable Energy:
Shipping companies are embracing renewable energy sources to power onboard systems and reduce emissions during port operations. Solar panels and wind turbines are being installed on vessels to generate clean energy, reducing reliance on auxiliary engines, and cutting down emissions. Shore power facilities in ports allow ships to connect to the electrical grid, eliminating the need for onboard generators while docked.
Collaboration and Industry Partnerships:
Recognizing that addressing emissions requires collective action, shipping companies, governments, and organizations have formed partnerships and collaborations. These initiatives focus on research and development, sharing best practices, and promoting knowledge transfer. Joint projects aim to develop and deploy innovative technologies, improve infrastructure, and create a supportive regulatory framework to accelerate the industry's transition towards a greener future. The Zero Emission Shipping - Mission Innovation.
To pave the way for a greener future in shipping, the availability of alternative fuels plays a vital role in their widespread adoption. However, this availability is influenced by factors such as port infrastructure, local regulations, and government policies. As the demand for cleaner fuels in shipping rises and environmental regulations become more stringent, efforts are underway to improve the accessibility of these fuels through infrastructure development, collaborations, and investments in production facilities.
Liquefied Natural Gas (LNG) infrastructure has seen significant growth in recent years, resulting in more LNG bunkering facilities and LNG-powered vessels. Nonetheless, the availability of LNG as a marine fuel can still vary depending on the region. To ensure consistent availability worldwide, there is a need for further development of LNG supply chains and infrastructure. For biofuels, their availability hinges on production capacity and the availability of feedstock. Although biofuels are being produced and utilized in various sectors, their availability as a marine fuel remains limited. Scaling up biofuel production and establishing robust supply chains are imperative to ensure wider availability within the shipping industry.Hydrogen, as a fuel for maritime applications, is still in the early stages of infrastructure development. While some hydrogen vessels have been tested or introduced in the first quarter of last year, the infrastructure required for hydrogen production and distribution needs further advancement.
Ammonia, as a marine fuel, currently faces limitations in availability. The production, storage, and handling infrastructure for ammonia need further development to support its widespread use in the shipping industry.Methanol, on the other hand, is already a commercially available fuel and has been used as a blend with conventional fuels in some ships. However, its availability as a standalone marine fuel can still be limited in certain regions. Bureau Veritas in October 2022 published a White Paper for the Alternative Fuels Outlook. This white paper provides a comprehensive overview of alternative fuels for the shipping industry, taking into account key factors such as technological maturity, availability, safety, emissions, and regulations.
Creating a sustainable world requires us to embark on a journey towards a zero emission future, where every step is a commitment to preserve our planet for future generations.
Albert Greenway
Environmental Scientist, Sustainability Expert
Increased Use of Renewable Energy:
Shipping companies are embracing renewable energy sources to power onboard systems and reduce emissions during port operations. Solar panels and wind turbines are being installed on vessels to generate clean energy, reducing reliance on auxiliary engines, and cutting down emissions. Shore power facilities in ports allow ships to connect to the electrical grid, eliminating the need for onboard generators while docked.
Collaboration and Industry Partnerships:
Recognizing that addressing emissions requires collective action, shipping companies, governments, and organizations have formed partnerships and collaborations. These initiatives focus on research and development, sharing best practices, and promoting knowledge transfer. Joint projects aim to develop and deploy innovative technologies, improve infrastructure, and create a supportive regulatory framework to accelerate the industry's transition towards a greener future. The Zero Emission Shipping - Mission Innovation.
To pave the way for a greener future in shipping, the availability of alternative fuels plays a vital role in their widespread adoption. However, this availability is influenced by factors such as port infrastructure, local regulations, and government policies. As the demand for cleaner fuels in shipping rises and environmental regulations become more stringent, efforts are underway to improve the accessibility of these fuels through infrastructure development, collaborations, and investments in production facilities.
Liquefied Natural Gas (LNG) infrastructure has seen significant growth in recent years, resulting in more LNG bunkering facilities and LNG-powered vessels. Nonetheless, the availability of LNG as a marine fuel can still vary depending on the region. To ensure consistent availability worldwide, there is a need for further development of LNG supply chains and infrastructure. For biofuels, their availability hinges on production capacity and the availability of feedstock. Although biofuels are being produced and utilized in various sectors, their availability as a marine fuel remains limited. Scaling up biofuel production and establishing robust supply chains are imperative to ensure wider availability within the shipping industry.Hydrogen, as a fuel for maritime applications, is still in the early stages of infrastructure development. While some hydrogen vessels have been tested or introduced in the first quarter of last year, the infrastructure required for hydrogen production and distribution needs further advancement.
Ammonia, as a marine fuel, currently faces limitations in availability. The production, storage, and handling infrastructure for ammonia need further development to support its widespread use in the shipping industry.Methanol, on the other hand, is already a commercially available fuel and has been used as a blend with conventional fuels in some ships. However, its availability as a standalone marine fuel can still be limited in certain regions. Bureau Veritas in October 2022 published a White Paper for the Alternative Fuels Outlook. This white paper provides a comprehensive overview of alternative fuels for the shipping industry, taking into account key factors such as technological maturity, availability, safety, emissions, and regulations.
.webp){kind=small}
.png)
.png)
.png)
.png)
.png)
.png)
.png)
.png)
.png)
.png)
.png)
.png)
.png)
.png)
.png)