Andrey Sizov
01.08.2025
Grain markets were steady to higher on Thursday. The September SRW wheat contract closed at $5.23/bu ($192/mt; -0.1% from Wednesday). The September HRW wheat contract rose to $5.26/bu ($193/mt; +0.8%). The September Euronext wheat contract settled at €196.25/mt ($224/mt; -1.0%). The September U.S. corn contract increased to $3.94/bu ($155/mt; +0.6%).
As of July 28, France had harvested 89% of its soft wheat crop, compared to 63% a year earlier and 78% on average over the past five years, according to FranceAgriMer.
As of July 30, Argentine farmers had planted 6.6 mln ha of wheat out of the planned 6.7 mln ha, the Buenos Aires Grain Exchange reported. A year earlier, 6.3 mln ha had been planted by the same date.
An estimated 97% of Argentina’s wheat crop was rated in normal-to-excellent condition, up from 84% a year earlier.
Farmers in Argentina had harvested 6.1 mln ha of corn out of 7.1 mln ha, compared to 6.6 mln ha out of 7.6 mln ha a year earlier, the Buenos Aires Grain Exchange said. Yields were estimated at 7.23 mt/ha.
U.S. exporters sold 1.9 mmt of corn for 2025/26 delivery in the week ending July 24, exceeding expectations of 0.6–1.6 mmt, according to USDA data.
SovEcon has raised its forecast for Russian wheat exports in the 2025/26 season by 0.4 million metric tons (mmt) to 43.3 mmt. SovEcon estimates that 40.8 mmt of wheat were shipped from Russia in 2024/25. Following a sluggish start, the center expects a seasonal acceleration in exports in the near term.
