Andrey Sizov
04.04.2025
Grain futures were mostly steady on Thursday. The May SRW wheat contract closed at $5.36/bushel ($197/mt), down 0.6% from Wednesday. The May HRW wheat contract in Kansas City rose to $5.69/bushel ($209/mt), up 0.1%. The May Euronext wheat contract settled at €221.00/mt ($244/mt), down 0.5%. The May U.S. corn contract remained unchanged at $4.57/bushel ($180/mt).
For the week ending March 27, U.S. wheat net sales totaled 340 tmt for 2024/25, above expectations ranging from -100 to 300 tmt. Sales for 2025/26 reached 95 tmt, in line with expectations of 0–200 tmt. Corn sales for the same period amounted to 1.17 mmt for 2024/25, beating the expected range of 0.80–1.60 mmt. An additional 165 tmt were booked for 2025/26, compared to expectations of 0–100 tmt.
The share of Argentine corn rated in poor condition fell to 23%, down from 26% the previous week and 32% a year ago, according to the Buenos Aires Grain Exchange.
The share of French soft wheat rated good or excellent rose to 76%, up from 74% the previous week and 65% a year ago, according to FranceAgriMer.
Last week, bids for 12.5% wheat in Russian deep-sea ports rose to 17,600-18,000 rub/mt from 17,300-17,800 rub/mt, according to SovEcon. This marked the first increase since mid-February, supported by a rise in demand from exporters and limited supply.
