Andrey Sizov
21.01.2026
On Tuesday, grain futures fell. The March SRW wheat contract closed at $5.10/bu ($187/mt; -1.5% vs. Friday). The March HRW wheat contract in Kansas fell to $5.23/bu ($192/mt; -0.8%). The March Euronext wheat contract closed at €189.50/mt ($222/mt; -0.9% vs. Monday). The March U.S. corn contract slipped to $4.24/bu ($167/mt; -0.2%).
China last week fulfilled its pledge to buy 12 mmt of U.S. soybeans by February 2026, Reuters reported, citing traders familiar with the matter.
In the week ended Jan. 15, the U.S. shipped 1.5 mmt of corn versus market expectations of 1.0-1.4 mmt, according to USDA data. Wheat shipments totaled 0.39 mmt versus expectations of 0.20-0.40 mmt.
From July 1 to Jan. 15, the EU shipped 11.8 mmt of soft wheat versus 12.0 mmt a year earlier, according to European Commission data. The commission’s analysts warn that export data for Poland, Bulgaria and Ireland are incomplete.
From Jan. 1 to Jan. 16, Ukraine exported 1.4 mmt of grain versus 1.7 mmt as of Jan. 17, 2025, according to the country’s Economy Ministry. Total exports since the start of the season reached 16.9 mmt versus 23.9 mmt a year earlier.
As of Jan. 14, the average price for fourth-grade food wheat (typically 12.0-12.5% protein content) in European Russia fell to 13,050 rubles per metric ton ($165/mt) from 13,150 rubles/mt ($168/mt) a week earlier and 13,250 rubles/mt ($172/mt) a month earlier, according to SovEcon’s report. This is the lowest price since July 2024, when wheat was priced at 12,900 rubles/mt ($146/mt). Wheat prices declined amid high supply in regions distant from ports and relatively weak demand.
