Andrey Sizov
20.03.2026
U.S. grain futures extended gains on Thursday. May SRW wheat settled at $6.08/bu ($223/mt; +0.6% vs. Wednesday). May HRW wheat rose to $6.27/bu ($230/mt; +0.2%). May Euronext wheat closed at €207.00/mt ($240/mt; -0.2%). May U.S. corn climbed to $4.70/bu ($185/mt; +1.4%).
The International Grains Council raised its forecast for global wheat production by 3 mmt to 845 mmt and lifted its estimate of ending stocks by 1 mmt to 283 mmt. The IGC also released its first 2026/27 projections, putting wheat production at 822 mmt and ending stocks at 276 mmt.
The IGC raised its estimate of global corn production by 7 mmt to 1,320 mmt and lifted ending stocks by 1 mmt to 306 mmt. Its first 2026/27 projection put corn production at 1,303 mmt and ending stocks at 294 mmt.
Argentina’s corn harvest was 13% complete as of March 18 versus 14% a year earlier, according to the Buenos Aires Grain Exchange. About 62% of the crop was rated good or excellent, up from 60% a week earlier and 29% a year ago.
In France, the share of soft wheat rated good or excellent held at 84% for a third straight week as of March 16, FranceAgriMer data showed. The figure was 74% a year earlier.
SovEcon estimates Russian wheat exports in March at 3.8 mln t, compared with a five-year average of 3.1 mln t. February exports are estimated at 2.9 mln t, slightly below average. Russian wheat exports are accelerating amid improving competitiveness.
