Andrey Sizov
26.12.2025
On Thursday, grain markets were closed for the Christmas holidays.
As of Dec. 23, Argentina’s wheat harvest was 84% complete vs. 89% a year earlier, according to the Buenos Aires Grain Exchange (BAGE). Wheat yields were at 4.29 mt/ha vs. 2.99 mt/ha a year earlier.
Corn planting in Argentina was 78% complete as of Dec. 23 vs. 81% a year earlier, BAGE data showed. Some 99% of corn was rated in normal to excellent condition vs. 100% a year earlier.
SovEcon estimates wheat exports in December at 3.9 million metric tons (mmt), above 3.4 mmt a year earlier and close to the record 4.1 mmt set in 2022. Russian wheat exports accelerated amid improving export margins.
Russia has completed the 2026 winter-crop sowing campaign. As of mid-December, farmers had planted 16.1 million hectares of winter wheat, slightly below 16.2 million hectares a year earlier and down from 16.9 million hectares two years ago. Russia’s winter wheat area peaked at 17.8 million hectares in December 2021 before entering a downward trend, reflecting weaker profitability in grain production following the introduction of wheat export taxes.
