Andrey Sizov
30.01.2026
On Thursday, grain futures extended gains. The March SRW wheat contract closed at $5.41/bu ($199/mt; +1.0% vs. Wednesday). The March HRW wheat contract rose to $5.47/bu ($201/mt; +0.9%). The March Euronext wheat contract closed at €191.25/mt ($229/mt; +0.7%). The March U.S. corn contract rose to $4.31/bu ($170/mt; +0.1%).
Abnormally cold weather, with average daily air temperatures 7-12°C below normal, is expected in central Russia from Jan. 30 to Feb. 4, Russia’s Hydrometcenter said.
Ukraine’s emergency service said Ukrhydrometcenter forecasters expect a sharp drop in temperatures across most regions on Feb. 1-3. In some areas, temperatures could fall to as low as -30°C.
A snowy winter in southern Russia will help protect winter crops and provide moisture later in the season, representatives of the farmers’ association AKKOR’s Krasnodar and Rostov branches told RBC.
Kazakhstan’s Grain Union raised its 2025/26 export forecast for wheat and feed flour by 0.4 mmt to 12.6 mmt, which would be a record.
Argentina’s corn planting was 97% complete as of Jan. 28, down from 99% a year earlier, BAGE data showed. Crop condition was rated normal-to-excellent for 86% of the area, down from 89% a week earlier but up from 85% a year earlier. Conditions have weakened slightly amid dry weather.
SovEcon raised its forecast for Russian wheat exports in the 2025/26 season by 1.1 million metric tons (mmt) to 45.7 mmt, compared with 40.8 mmt a year earlier and a five-year average of 42.2 mmt. The forecast was revised amid strong export activity in recent months, as well as relatively high official crop figures.
