Andrey Sizov
23.01.2025
Grain prices fell on Wednesday. The March SRW wheat contract closed at $5.54/bu ($204/mt; -0.8% compared to Tuesday). The March HRW wheat contract in Kansas closed at $5.75/bu ($211/mt; -0.1%). The March Euronext wheat contract closed at €230.00/mt ($239/mt; -0.5%). The March U.S. corn contract dropped to $4.84/bu ($191/mt; -1.2%).
USDA reported sales of 136,000 mt of corn to unknown destinations.
From January 1 to 22, Ukraine shipped 2.2 million mt of grain, down from 3.7 million mt during the same period last year, according to data from the Ministry of Agrarian Policy. Total exports since the beginning of the season reached 24.5 million mt, up from 22.2 million mt in the previous year.
Archer Daniels Midland Co. (ADM) halted grain shipments at its Gulf Coast ports due to the heaviest snowfall in 130 years.
Donald Trump nominated Brooke Rollins as U.S. Secretary of Agriculture. Rollins previously led the Texas Public Policy Foundation, an organization opposing ethanol use and farm subsidies.
SovEcon has left its forecast for Russia’s 2025 wheat production unchanged at 78.7 million metric tons (MMT), down from 82.4 MMT last year. While the anomalously warm weather has not yet caused significant issues for plants, the associated risks remain elevated.
