Andrey Sizov
01.04.2025
Grain futures rose on Monday. The May SRW wheat contract closed at $5.37/bu ($197/mt), up 1.7% from Friday. The May HRW wheat contract in Kansas City climbed to $5.57/bu ($205/mt), up 1.0%. The May Euronext wheat contract settled at €220.25/mt ($238/mt), up 0.7%. The May U.S. corn contract rose to $4.57/bu ($180/mt), up 0.9%.
The USDA released updated estimates for U.S. grain plantings. Corn acreage was projected at 38.6 million ha, above the market estimate of 38.2 million ha and up from 36.7 million ha a year ago. Wheat acreage was pegged at 18.4 million ha, below the market estimate of 18.8 million ha and last year’s 18.6 million ha.
The USDA also reported quarterly grain stocks. Corn stocks were estimated at 207.0 million metric tons (mmt), in line with market expectations but down from 212.2 mmt a year ago. Wheat stocks were reported at 33.7 mmt, above the market estimate of 33.1 mmt and last year’s 29.6 mmt.
For the week ending March 27, U.S. corn exports totaled 1.6 mmt, slightly above the expected range of 1.0–1.5 mmt. Wheat exports amounted to 0.4 mmt, within the market estimate of 0.3–0.5 mmt.
Analysts surveyed by Reuters pegged Australia’s 2025/26 wheat crop at 28.6 mmt, down from 34.1 mmt a year earlier.
As of March 30, planting of Brazil’s second corn crop was 98.7% complete, compared to 97.9% last year and a five-year average of 92.5%, according to Conab.
