Andrey Sizov
07.03.2025
On Thursday, U.S. grain futures rose. The May SRW wheat contract closed at $5.54/bu ($204/mt), up 1.1% from Wednesday. The May HRW wheat contract in Kansas City increased to $5.66/bu ($208/mt), up 1.5%. The May Euronext wheat contract closed at €222.75/mt ($231/mt), down 0.1%. The May U.S. corn contract rose to $4.64/bu ($183/mt), up 1.8%.
U.S. President Donald Trump signed documents suspending tariffs on goods from Canada and Mexico for one month. Trump also announced that Mexican goods shipped under the USMCA agreement would not be subject to tariffs.
China could harvest another large crop in the 2025/26 season, according to COFCO. As a result, the country’s grain imports are expected to remain relatively low.
A change in the company responsible for Egypt’s wheat procurement has led to a 10% increase in domestic prices, Zawya reported, citing traders. According to traders, the state-owned GASC was replaced by Mostakbal Misr, which buys grain from local producers who, in turn, purchase it on international markets.
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.
