Andrey Sizov
04.02.2025
Grain futures rose on Monday. The March SRW wheat contract closed at $5.67 per bushel ($208/mt; +1.3% compared to Friday). The March HRW wheat contract in Kansas rose to $5.86 per bushel ($215/mt; +1.1%). The March Euronext wheat contract closed at €234.50/mt ($243/mt; +1.1%). The March U.S. corn contract increased to $4.89 per bushel ($192/mt; +1.4%).
The United States has delayed the implementation of 25% tariffs on imports from Canada and Mexico for 30 days, according to the prime ministers of both countries. In exchange, Canada and Mexico have committed to taking additional measures to enhance border security during this period.
The Chinese government announced the introduction of 15% tariffs on U.S. liquefied natural gas and coal and 10% tariffs on agricultural machinery. China is also launching an antitrust investigation into Google and restricting exports of rare earth metals. The new tariffs will take effect on February 10.
As of January 31, 6% of the second corn crop areas in Brazil’s Mato Grosso state had been planted, compared to 29% at the same time last year. Analysts at the IMEA institute attribute the delay in corn planting to the slow soybean harvest caused by heavy rains.
From February 1 to 3, Ukraine exported 76,000 metric tons of grain, compared to 313,000 metric tons during the same period last year, according to data from the Ministry of Agrarian Policy. Total grain exports since the start of the season have reached 25.8 million metric tons, up from 24.2 million metric tons a year earlier.
