Andrey Sizov
02.06.2025
U.S. wheat futures were steady on Friday. The July SRW wheat contract closed at $5.34/bu ($196/mt; unchanged from Thursday). July Kansas HRW rose to $5.33/bu ($196/mt; +0.3%). September Euronext wheat settled at €200.75/mt ($228/mt; -0.6%). July U.S. corn fell to $4.44/bu ($175/mt; -0.7%).
The USDA reported export sales of 211 tmt of corn to unknown destinations. Most of the volume will be shipped in the current season.
Russia’s wheat export duty will decline to 1,023.5 rub/mt from 1,365.5 rub/mt the previous week, according to the Ministry of Agriculture.
SovEcon raised its 2025/26 wheat export forecast by 1.1 million metric tons (MMT) to 40.8 MMT. The first estimate for total grain exports in the new season is 49.4 MMT, compared with 50.2 MMT in 2024/25. Wheat exports are expected to remain close to average levels, while the start of the new export campaign could be sluggish.
