Andrey Sizov
25.04.2025
Grain futures posted modest gains on Thursday. The July SRW wheat contract closed at $5.44/bushel ($200/mt; +0.2% compared to Wednesday). The July HRW wheat contract in Kansas City rose to $5.51/bushel ($202/mt; +0.1%). The September Euronext wheat contract settled at €208.00/mt ($237/mt; +0.2%). The July corn contract increased to $4.84/bushel ($191/mt; +1.0%).
The share of Argentine corn crops rated in good or excellent condition rose to 80%, up from 78% a week earlier and 60% a year ago.
Germany’s association of agricultural cooperatives raised its wheat production estimate to 21.41 million metric tons (mmt), compared to 21.36 mmt last year, citing recent rainfall. The 2025 crop is expected to be 16% higher than the previous year.
For the week ending April 17, U.S. exporters sold 372,000 metric tons of wheat for delivery in the 2025/26 season, above the forecast range of 100,000–300,000 metric tons.
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.
