Andrey Sizov
30.05.2025
Wheat prices continued to rise on Thursday. The July SRW wheat contract closed at $5.34/bu ($196/mt; +0.7% compared to Wednesday). The July HRW wheat contract in Kansas increased to $5.32/bu ($195/mt; +1.2%). The September Euronext wheat contract settled at €202.00/mt ($230/mt; +0.1%). The July U.S. corn contract declined to $4.47/bu ($176/mt; -0.9%).
The United States Court of Appeals for the Federal Circuit in Washington suspended the Trump tariff ban issued on Wednesday. The tariffs will remain in effect while the appeal is under review.
As of May 26, 70% of French wheat was rated in good or excellent condition, down from 71% a week earlier and up from 61% a year ago.
By May 28, Argentina had planted 0.7 mln ha of wheat (10.5% of the projected area), compared to 0.6 mln ha (9.7%) at the same time last year.
The USDA reported export sales of 104 tmt of corn to Mexico and 101 tmt to unknown destinations.
SovEcon raised its 2025/26 wheat export forecast by 1.1 million metric tons (MMT) to 40.8 MMT. The first estimate for total grain exports in the new season is 49.4 MMT, compared with 50.2 MMT in 2024/25. Wheat exports are expected to remain close to average levels, while the start of the new export campaign could be sluggish.
