Andrey Sizov
05.08.2025
U.S. wheat prices were mostly stable on Monday. The September SRW wheat contract closed at $5.17/bu ($190/mt; unchanged from Friday). The September HRW wheat contract declined to $5.17/bu ($190/mt; -0.3%). The September Euronext wheat contract settled at €197.25/mt ($228/mt; +1.4%). The September U.S. corn contract fell to $3.87/bu ($152/mt; -0.6%).
Ukraine may raise its wheat and corn production forecasts if weather conditions remain favorable, Deputy Economy Minister Taras Vysotskyi said. The wheat crop forecast could be revised up to 22.0 mmt from 21.2 mmt, and the corn forecast to 28.0 mmt from 26.5 mmt.
As of August 3, U.S. winter wheat harvest was 86% complete, compared to 88% expected and 87% on average over the past five years, according to USDA data. Spring wheat harvest was 5% complete, versus 7% expected and 9% on average.
The share of U.S. spring wheat in good or excellent condition fell to 48% as of August 3, from 49% a week earlier and the market estimate of 49%, USDA reported. Corn condition remained at 73%, unchanged from the previous week and 1 pp above the market estimate.
