Andrey Sizov
24.04.2025
Grain futures continued to decline on Wednesday. The July SRW wheat contract closed at $5.43/bushel ($200/mt; -1.2% compared to Tuesday). The July HRW wheat contract in Kansas City dropped to $5.50/bushel ($202/mt; -1.4%). The September Euronext wheat contract settled at €207.50/mt ($235/mt; -0.4%). The July corn contract closed at $4.79/bushel ($189/mt; -0.8%).
Between July 1 and April 23, Ukraine exported 34.6 million metric tons (mmt) of grain and pulses, compared to 40.3 mmt a year earlier. Since the beginning of April, exports totaled 1.7 mmt, down from 5.2 mmt over the same period in 2024.
On April 23, Russia reimposed temporary restrictions on wheat, flaxseed, and lentil imports from Kazakhstan. The ban does not apply to transit shipments that include phytosanitary certificates issued by Kazakhstan for the final destination country.
Jordan will hold a tender on April 29 to purchase 120,000 metric tons of milling wheat of optional origin, according to European traders.
SovEcon estimates Russian wheat exports in April at 2.0 million metric tons (MMT), compared to 5.0 MMT a year ago and an average of 3.5 MMT over the past five years. Russia continues to export wheat at below-average pace for the fourth consecutive month. Exports slowed down due to low profitability and decreased competitiveness of Russian wheat.
