Andrey Sizov
02.04.2025
Grain futures continued to rise on Tuesday. The May SRW wheat contract closed at $5.40/bu ($199/mt), up 0.6% from Monday. The May HRW wheat contract in Kansas City climbed to $5.65/bu ($208/mt), up 1.5%. The May Euronext wheat contract settled at €221.50/mt ($239/mt), up 0.6%. The May U.S. corn contract rose to $4.62/bu ($182/mt), up 1.0%.
First Deputy Minister of Agrarian Policy of Ukraine Taras Vysotskyi said the ministry does not plan to revise the 2024/25 wheat export cap of 16.2 million metric tons (mmt). Export caps are set annually as part of a memorandum between the ministry and exporters and are not restrictive.
Roman Vilfand, head of Russia’s Hydrometeorological Center, said April temperatures across the European part of the country will be near average. He noted that a precipitation deficit is expected in the Center, southern Volga, and Rostov.
