Andrey Sizov
10.04.2025
U.S. grain prices continued to rise on Wednesday. The May SRW wheat contract closed at $5.42/bu ($199/mt; +0.4% from Tuesday). The May HRW wheat contract in Kansas climbed to $5.68/bu ($209/mt; +1.2%). The May Euronext wheat contract fell to €219.75/mt ($241/mt; -2.2%). The May U.S. corn contract rose to $4.74/bu ($187/mt; +1.1%).
On Wednesday, President Trump announced a 90-day pause on all tariffs, excluding China. During this period, a 10% blanket US tariffs will apply.
The U.S. and China again exchanged reciprocal tariff hikes. Beijing raised duties on U.S. goods to 84%, prompting Washington to raise its tariff on Chinese imports to 125%. The 90-day pause announced by Trump does not apply to China.
The European Union approved retaliatory tariffs on U.S. imports. A 25% tax on American corn will take effect on April 15 in response to U.S. tariffs on European steel and aluminum.
EU Agriculture Commissioner Christophe Hansen said the European Commission will not extend the duty-free trade regime with Ukraine, which is set to expire on June 5. According to Hansen, the Commission is preparing a new system of tariff quotas to regulate Ukrainian imports. In recent years, the EU has been Ukraine’s largest grain buyer, accounting for about 50% of the country’s total exports.
According to European traders, Algeria’s state agency OAIC purchased 200–450 thousand metric tons (tmt) of durum wheat in a tender on April 8 at around $357/mt C&F for May–June delivery. Likely origins include Canada, the U.S., or Australia.
