Andrey Sizov
18.04.2025
Grain futures were mostly steady or higher on Thursday. The May SRW wheat contract closed at $5.49/bu ($202/mt; +0.2% from Wednesday). The May HRW wheat contract in Kansas edged down to $5.57/bu ($205/mt; -0.1%). The May Euronext wheat contract settled at €211.25/mt ($240/mt; +1.1%). The May U.S. corn contract closed at $4.82/bu ($190/mt; -0.4%).
The International Grains Council (IGC) raised its forecast for global corn production in the 2025/26 season by 5 million metric tons (mmt) to 1,274 mmt. The wheat production forecast was trimmed by 1 mmt to 806 mmt.
The share of Argentine corn rated good to excellent increased to 78%, up from 76% the previous week, according to the Buenos Aires Grain Exchange.
Wheat crops in Pakistan’s Punjab province were damaged due to heavy rain and strong winds, the Hindustan Times reported, citing local farmers. Some producers reported lodging of crops amid the adverse weather.
Tunisia purchased 75 thousand metric tons (tmt) of soft wheat at $263–265/mt, European traders said.
SovEcon has raised its forecast for Russian wheat production, to 79.7 million metric tons (MMT), up by 1.1 MMT. This revision reflects better-than-expected winter survival of the crop.
