Andrey Sizov
27.06.2025
Grain futures declined on Thursday. The September SRW wheat contract closed at $5.37/bu ($197/mt; -1.4% compared to Wednesday). The September HRW wheat contract in Kansas dropped to $5.34/bu ($196/mt; -1.0%). The September Euronext wheat contract closed at €195.25/mt ($228/mt; -1.0%). The September U.S. corn contract fell to $4.04/bu ($159/mt; -0.2%).
Farmers in Russia’s Rostov region (№1 wheat producer in Russia) have started the grain harvest, deputy governor Sergei Bodryakov told Interfax. As of late June, 23 tmt of early grains and legumes were harvested from 11.5 ths ha. The total area to be harvested is estimated at 3.2 mln ha.
Average grain yield in the Stavropol region amounted to 4.02 mt/ha, up from 3.44 mt/ha a year earlier, according to the regional agriculture ministry.
The European Commission raised its wheat production forecast for the EU to 128.2 mln mt, up from 126.6 mln mt last month, citing good crop outlooks in Romania and Spain. EU wheat output is now projected to exceed last year’s level by 15%.
The International Grains Council (IGC) raised its 2025/26 global wheat production forecast by 2 mln mt to 808 mln mt, citing improved crop prospects in India and Romania. The corn output forecast was cut by 1 mln mt to 1,276 mln mt due to worsening expectations for the Ukrainian crop.
As of June 18, 4.9 mln ha of wheat had been planted in Argentina out of the planned 6.7 mln ha, according to the Buenos Aires Grain Exchange. At the same time last year, 5.1 mln ha had been planted.
In Argentina, 3.9 mln ha of corn had been harvested out of the planned 7.1 mln ha, compared to 4.0 mln ha out of 7.6 mln ha a year earlier, the Buenos Aires Grain Exchange said. Yields are estimated at 7.71 mt/ha.
In June, Russian exporters set bids for a new wheat crop at RUB 14,500/t ($184/t). A year ago, wheat prices were at 15,250 rub/mt ($173/mt).
