Andrey Sizov
28.01.2025
Grain futures continued to decline on Monday. The March SRW wheat contract closed at $5.35/bu ($198/mt; -1.6% compared to Friday). The March HRW wheat contract in Kansas City fell to $5.53/bu ($203/mt; -1.1%). The March Euronext wheat contract closed at €224.75/mt ($236/mt; -0.6%). The March corn contract dropped to $4.82/bu ($190/mt; -0.9%).
Andrey Sizov: "Grains came under pressure after President Trump threatened to impose a 25% tariff on imports from Colombia, a leading buyer of U.S. corn. Improved weather forecasts for Argentina added more downside, while a sell-off in energy and equities—sparked by Chinese firm DeepSeek AI’s new, energy-efficient model R1—also weighed on the sector."
USDA reported sales of 139,000 mt of corn to Mexico.
For the week ending January 23, U.S. exporters shipped 485,000 mt of wheat, exceeding market expectations of 250,000–450,000 mt, according to USDA data.
Weather models predict that air temperatures in the Central and Volga regions of Russia will exceed the norm by 8–12°C over the next seven days.
