Andrey Sizov
05.02.2026
On Wednesday, grain markets were mixed. The March SRW wheat contract closed at $5.27/bu ($193/mt; -0.4% vs. Tuesday). The March HRW wheat contract slipped to $5.30/bu ($195/mt; -0.8%). The March Euronext wheat contract closed at €193.75/mt ($229/mt; +0.3%). The March U.S. corn contract rose to $4.29/bu ($169/mt; +0.2%).
China is considering to import 20 mmt of U.S. soybeans this season versus 12 mmt previously pledged, U.S. President Donald Trump said after talks with Xi Jinping.
Egypt bought at least two Ukrainian wheat cargoes last week at $245-250/mt C&F, traders familiar with the matter said. Egypt has also recently purchased several French wheat cargoes, they said.
Winter crops in Russia’s Rostov region are in satisfactory condition, Agriculture Minister Anna Kasyanenko said. Snow cover softened the impact of frosts, and a brief warm spell caused no damage, she said. Precipitation in November-January was slightly higher than a year earlier.
By late January, export prices for Russian wheat with 12.5% protein rose by $1 to $229–231/mt FOB, according to SovEcon’s price monitoring. Export prices increased for a third consecutive week, reaching their highest level since November 2025. Russian FOB prices were supported by a strong ruble, high domestic prices and rising European quotations.
