Andrey Sizov
25.03.2026
Grain futures edged higher on Tuesday. May SRW wheat settled at $5.90/bu ($217/mt; +0.4% vs. Monday). May HRW wheat rose to $6.04/bu ($222/mt; +0.1%). May Euronext wheat closed at €203.25/mt ($236/mt; +0.5%). May U.S. corn climbed to $4.62/bu ($182/mt; +0.7%).
Ukrainian farmers continue spring planting. As of March 23, Ukraine planted 179 tmt ha of grains and pulses (13% of the planned area) versus 244 tmt ha (18%) a year earlier, Economy Ministry data showed.
Algeria’s state grain agency OAIC announced a tender to buy a nominal 50 tmt of milling wheat for June shipment. In a February tender, OAIC bought about 600 tmt of wheat at $257-$260/mt C&F.
Russia’s Agriculture Ministry restricted exports of ammonium nitrate from March 21 to April 21, 2026, excluding shipments under intergovernmental agreements. The measure is intended to meet domestic fertilizer needs amid rising export demand, the ministry said. Fertilizer demand has picked up in recent weeks as energy and refined-product prices jumped.
Kazakhstan imposed a ban on grain imports from Russia as of March 21, 2026, citing veterinary safety measures.
From July 1 to March 22, the EU shipped 17.1 mmt of soft wheat (+6% YoY) versus 16.1 mmt over the same period last season, European Commission data show. Export figures for Poland, Bulgaria and Ireland are incomplete.
From March 1-23, Ukraine exported 2.4 mmt of grain versus 3.0 mmt as of March 26, 2025, Economy Ministry data showed. Total shipments since the start of the season reached 24.8 mmt versus 32.2 mmt a year earlier.
SovEcon has raised its Russian wheat export forecasts for both the current and next seasons, reflecting stronger market conditions and improving demand.
