Andrey Sizov
06.03.2025
On Wednesday, U.S. grain futures rebounded. The May SRW wheat contract closed at $5.48/bu ($201/mt), up 2.2% from Tuesday. The May HRW wheat contract in Kansas City rose to $5.57/bu ($205/mt), up 1.6%. The May Euronext wheat contract closed at €223.00/mt ($241/mt), down 0.2%. The May U.S. corn contract increased to $4.56/bu ($179/mt), up 0.9%.
The condition of winter grain crops in the European part of Russia is better this spring than at the beginning of winter, according to Roman Vilfand, head of the Hydrometeorological Center of Russia. He also noted potential moisture shortages in the Central region and some parts of the South.
The Federation of Indian Millers has urged the government to reconsider the import duty on wheat, the Telegraph India reported. According to the federation’s vice president, Rohit Khaitan, there is currently no shortage, but wheat stocks are insufficient to cover any unforeseen circumstances.
According to Rosstat, as of February 1, on-farm wheat stocks (excluding small companies) totaled 13.7 mln t, 32% lower than a year ago and 7% below average. Wheat stocks have declined compared to last year due to active exports in the first half of the season.
