Andrey Sizov
03.02.2026
On Monday, grain futures fell. The March SRW wheat contract closed at $5.28/bu ($194/mt; -1.9% vs. Friday). The March HRW wheat contract slipped to $5.35/bu ($197/mt; -1.7%). The March Euronext wheat contract closed at €193.50/mt ($228/mt; -0.4%). The March U.S. corn contract fell to $4.26/bu ($168/mt; -0.6%).
From Feb. 3-5, average daily temperatures in southern Russia are expected to run 8-14°C below normal, the Russian Hydrometeorological Center said. On Feb. 3, temperatures in northern parts of the Rostov and Volgograd regions are expected to drop to minus 22°C to minus 28°C. In Volgograd, temperatures could reach minus 32°C overnight into Feb. 4, while northern Krasnodar is seen at minus 15°C to minus 20°C.
StoneX raised its estimate of Brazil’s corn production by 1.2 mmt to 133.0 mmt. USDA in January pegged Brazil’s corn crop at 131.0 mmt.
