Andrey Sizov
09.02.2026
On Friday, grain futures declined. The March SRW wheat contract closed at $5.30/bu ($195/mt; -1.0% vs. Thursday). March HRW wheat fell to $5.31/bu ($195/mt; -1.3%). The March Euronext wheat contract closed at €190.00/mt ($225/mt; -1.8%). The March U.S. corn contract slipped to $4.30/bu ($169/mt; -1.1%).
As of early February, 97% of Russia’s winter crops were in normal condition, up from 87% a year earlier, Russian Deputy Prime Minister Dmitry Patrushev said. About 20 mln ha were planted with winter crops for the 2026 crop, he said.
In Spain, vast precipitation and strong wind gusts as Storm Marta hit the country caused significant damage to crops, Reuters reported, citing local farmers. Spain is among the five largest grain producers in the EU.
Kazakhstan’s 2025 wheat crop in post-cleaning weight totaled 19.3 mln t, the second-largest result on record after 2011. Total grain output amounted to 24.9 mln t, up 1.5% from a year earlier.
The FAO food price index fell 0.4% in January from December to 123.9 points. The FAO cereal price index rose 0.2% month to month to 107.5 points.
In February, the FAO raised its 2025/26 global grain production forecast by 19.9 mln t to 3 023.0 mln t, citing strong output in Argentina, Canada and the EU. The wheat production forecast was raised by 7.3 mln t to 834.7 mln t.
From Feb. 11, Russia’s wheat export tax rate will remain at zero for a fifth consecutive week, the Agriculture Ministry said.
