Andrey Sizov
29.04.2025
On Monday, U.S. grain futures declined. The July SRW wheat contract closed at $5.31/bushel ($195/mt; -2.6% compared to Friday). The July HRW wheat contract in Kansas City fell to $5.40/bushel ($198/mt; -2.1%). The September Euronext wheat contract settled at €206.50/mt ($236/mt; -1.5%). The July U.S. corn contract fell to $4.83/bushel ($190/mt; -0.5%).
Russian President Vladimir Putin unilaterally declared a three-day ceasefire from May 8 to May 10.
According to USDA data, U.S. wheat export inspections for the week ending April 24 totaled 647 tmt, compared with market expectations of 200–500 tmt.
As of April 27, U.S. corn planting was 24% complete, compared to 25% expected by the market and 25% a year earlier. Spring wheat planting was 30% complete versus 31% expected and 31% last year.
The share of U.S. winter wheat rated in good or excellent condition rose by 4 percentage points over the week to 49%. The market had expected 47%, while last year’s figure was also 49%.
Wheat production in Pakistan for 2024/25 is forecast at 28.4 million metric tons, compared with the target of 33.6 million metric tons, according to the country’s agriculture minister.
Since mid-April, Egypt has purchased 466 tmt of wheat from local farmers, down 37% from last year, Reuters reported, citing official documents. The government aims to buy 4–5 mmt of wheat from domestic producers.
