Andrey Sizov
09.06.2025
Grain futures rose on Friday. The July SRW wheat contract closed at $5.55/bu ($204/mt; +1.7% compared to Thursday). The July HRW wheat contract in Kansas climbed to $5.49/bu ($202/mt; +1.3%). The September Euronext wheat contract settled at €204.75/mt ($233/mt; +1.0%). The July U.S. corn contract rose to $4.42/bu ($174/mt; +0.7%).
Ukraine’s grain exports in 2025/26 may drop to 35 mmt from 40 mmt in 2024/25 due to lower production, Deputy Agriculture Minister Taras Vysotskyi told Reuters.
Kazakhstan’s wheat area in 2025 was 13.0 mln ha, down 0.2 mln ha from the previous year, according to the country’s agriculture ministry.
Russia’s wheat export tax will be reduced to 652.5 rub/mt starting June 11 from 1,023.5 rub/mt a week earlier, the agriculture ministry said.
Romania’s wheat crop could reach 14–15 mmt in 2025, which would be the largest in recent years, Agriculture Minister Florin Barbu said. The 2024 wheat crop totaled 9.3 mmt.
The European Union has reinstated import duties and quotas on Ukrainian grain, which were temporarily lifted in 2022. According to Ukraine’s agriculture ministry, the current quotas will cover 2–3 months of exports at previous volumes. The parties agreed to work out a long-term compromise in the coming months.
Global grain production in 2025/26 may reach a record 2.911 bln mt, up 2.1% from the previous year, according to FAO analysts.
The FAO Food Price Index declined to 127.7 points in May 2025, down 0.8% from the previous month. The Cereal Price Index fell to 109.0 points, down 1.8% from April.
