Andrey Sizov
14.03.2025
Grain prices rose on Thursday. The May SRW wheat contract closed at $5.62/bu ($207/mt; +1.5% compared to Wednesday). The May HRW wheat contract in Kansas increased to $5.87/bu ($216/mt; +2.5%). The May Euronext wheat contract settled at €226.00/mt ($245/mt; +1.2%). The May U.S. corn contract rose to $4.65/bu ($183/mt; +1.0%).
Brazil’s Conab raised its corn production estimate by 0.8 mmt to 122.8 mmt.
The Rosario Exchange lowered its estimate for Argentina’s corn production by 1.5 mmt to 44.5 mmt.
For the week ending March 6, U.S. exporters sold 0.78 mmt of wheat, exceeding the market estimate of 0.28-0.65 mmt.
France’s Strategie Grains reduced its EU wheat production forecast by 0.2 mmt to 122.5 mmt. The estimate remains higher than last year’s production of 113.5 mmt.
Tunisia purchased 100,000 mt of wheat at $269-270/mt C&F in an international tender.
SovEcon estimates Russian wheat exports in March at 1.4 to 1.8 million metric tons (MMT), down from 4.8 MMT last year and 3.3 MMT on a five-year average. Exports are expected to decrease by two thirds YoY due to negative exporter margins and low competitiveness of Russian wheat.
