Andrey Sizov
18.11.2025
Grain futures rose on Monday. December SRW wheat closed at $5.44/bu ($200/mt; +3.2% from Friday). December HRW wheat climbed to $5.29/bu ($194/mt; +2.6%). December Euronext wheat settled at €190.00/mt ($220/mt; +0.9%). December U.S. corn rose to $4.35/bu ($171/mt; +1.0%).
Andrey Sizov: “China dominated the headlines again. CBOT opened sharply lower on uncertainty around U.S. export demand, but soybeans later reversed and settled 2.9% higher on persistent talk of a Chinese purchase of up to 1.2 million tons. Record U.S. October crush numbers added support. The rebound lifted the broader grain complex, with wheat closing up 3.1% and corn 0.9%.”
China purchased at least 14 cargoes of U.S. soybeans on Monday, the largest single-day purchase since at least January, according to traders cited by Reuters.
As of November 16, the U.S. corn harvest was 91% complete, compared to 98% a year earlier and the five-year average of 94%, according to the USDA. Last week, market participants estimated progress at 97%.
Winter wheat planting in the U.S. was 92% complete, versus 94% a year ago and 95% two years ago, the USDA said. The share of crops rated good or excellent was 45%, down from 49% last year. Last week, market participants had estimated 52% of the crop was in good or excellent condition.
For the week ending November 13, the U.S. shipped 2.1 mmt of corn, well above analysts’ expectations of 1.0–1.8 mmt, according to USDA data. This ranks among the highest weekly volumes on record. Wheat shipments totaled 247 tmt, in line with the market estimate of 250–400 tmt.
