Andrey Sizov
29.05.2025
Wheat prices edged higher on Wednesday. The July SRW wheat contract closed at $5.30/bu ($195/mt; +0.3% compared to Tuesday). The July HRW wheat contract in Kansas rose to $5.25/bu ($193/mt; +0.2%). The September Euronext wheat contract settled at €201.75/mt ($228/mt; +0.2%). The July U.S. corn contract declined to $4.59/bu ($181/mt; -1.8%).
A U.S. Court of International Trade ruled that the global import tariffs imposed by President Donald Trump were unconstitutional and ordered them to be blocked.
The European Commission raised its 2025/26 wheat production estimate by 0.3 mmt to 126.6 mmt. The corn production estimate was lowered by 1.2 mmt to 63.8 mmt.
From July 1 through May 27, EU soft wheat exports totaled 18.8 mmt, down from 28.4 mmt a year earlier. Export figures from France and Italy for 2024 remain incomplete, the European Commission warned.
Between May 1 and May 28, Ukraine exported 2.7 mmt of grain, down from 4.9 mmt a year earlier, according to the country’s Ministry of Agrarian Policy. Total grain exports since the start of the season reached 38.0 mmt versus 46.4 mmt last year.
India’s government raised its 2024/25 wheat production estimate to 117.5 mmt from 115.4 mmt in March. Last year, the country produced 113.3 mmt.
