Andrey Sizov
03.03.2026
On Monday, grain futures fell. May SRW wheat settled at $5.77/bu ($212/mt; -2.4% vs. Friday). May HRW wheat fell to $5.75/bu ($211/mt; -1.0%). May Euronext wheat closed at €201.25/mt ($235/mt; -0.1%). May U.S. corn slipped to $4.46/bu ($175/mt; -0.6%).
Brazilian consultancy Safras & Mercado cut its estimate of Brazil’s corn crop by 1.2 mmt to 141.7 mmt. Brazil harvested 141.2 mmt of corn a year earlier.
As of Feb. 26, Brazil’s first-crop corn harvest was 36% complete versus 46% a year earlier, AgRural said. Second-crop corn planting was 66% complete versus 80% in 2025.
For the week ended Feb. 26, U.S. corn inspections totaled 1.9 mmt versus market expectations of 1.0-1.6 mmt, according to USDA data. Wheat inspections were 0.3 mmt versus expectations of 0.3-0.5 mmt.
Saudi Arabia’s GFSA bought 794,000 mt of wheat at $266-$283/mt C&F in an international tender. A sizable share is expected to be supplied from Russia and other Black Sea origins.
With volatility returning and geopolitical uncertainty rising, understanding Black Sea wheat and corn supply dynamics is critical ahead of the 2026 harvest cycle. Join our webinar on March 3 hosted by Andrey Sizov, a leading Black Sea grain market analyst, for traders, merchandisers, funds, processors and risk managers exposed to regional supply risk.
