Andrey Sizov
17.07.2025
Grain prices in the U.S. were mostly stable or higher on Tuesday. The September SRW wheat contract closed at $5.41/bu ($199/t; +0.6% compared to Monday). The September HRW wheat contract fell to $5.23/bu ($192/t; -0.2%). The September Euronext wheat contract closed at €198.50/t ($231/t; -0.9%). The September U.S. corn contract rose to $4.05/bu ($160/t; +1.0%).
Between July 1 and 13, the EU exported 0.2 mmt of soft wheat, down from 1.1 mmt a year earlier, according to European Commission data. EC analysts warned that grain export data from France, Bulgaria and Ireland remains incomplete.
As of July 11, Ukrainian farmers had harvested 1.2 mmt of wheat (vs. 5.7 mmt a year earlier) from 0.4 mln ha (1.5 mln ha) at an average yield of 2.9 t/ha (3.8 t/ha), Ukraine’s Ministry of Agrarian Policy reported. Total grain output reached 2.6 mmt.
Between July 1 and 16, Ukraine exported 0.6 mmt of grain and pulses, down from 2.0 mmt a year earlier, according to data from the Ministry of Agrarian Policy.
SovEcon has raised its 2025 Russian wheat production forecast to 83.6 million metric tons (MMT), up from 83.0 MMT in June. The latest revision is once again driven by improved crop conditions in the Central region, where the wheat crop is now estimated at 19.8 MMT, up from 18.5 MMT.
As of July 11, Russia had harvested 11.0 million metric tons (mmt) of wheat compared with 24.8 mmt in 2024. The 2025 wheat harvest is 56% behind last year’s level due to relatively slow harvesting progress and low initial yields.
