Andrey Sizov
09.04.2025
U.S. grain prices strengthened on Tuesday. The May SRW wheat contract closed at $5.40/bu ($198/mt; +0.7% from Monday). The May HRW wheat contract in Kansas rose to $5.61/bu ($206/mt; +0.4%). The May Euronext wheat contract held at €224.75/mt ($246/mt). The May U.S. corn contract increased to $4.69/bu ($185/mt; +1.0%).
President Trump announced 104% tariffs on Chinese imports after Beijing imposed additional duties on U.S. goods. The new tariffs are scheduled to take effect on April 9.
The USDA released its first Crop Progress report of the year. As of the reporting date, 3% of the spring wheat area had been planted, in line with both last year and the five-year average. Corn planting reached 2%, down from 3% last year but matching the average. Winter wheat was rated 48% good to excellent, compared with a market estimate of 47%, 55% at the end of November 2024, and 56% a year ago.
From July 1 through April 6 in the 2024/25 season, EU soft wheat exports totaled 16.4 million metric tons (mmt), down from 25.0 mmt a year earlier, according to European Commission data. Analysts noted that figures for France and Italy for 2024 remain incomplete.
On April 8, Jordan purchased 60 thousand metric tons (tmt) of milling wheat of optional origin out of a planned 120 tmt in a tender. The grain was bought from Cargill at $264/mt C&F for delivery to the port of Aqaba between August 1 and 15, 2025.
Crops in parts of Stavropol, one of Russia’s largest wheat-producing regions, were damaged by a hailstorm, according to regional governor Vladimir Vladimirov. The extent of the damage is currently being assessed.
