Andrey Sizov
24.11.2025
Grain markets ended mixed on Friday. March SRW wheat futures settled at $5.40/bu ($198/mt; -0.2% from Thursday), March HRW rose to $5.26/bu ($193/mt; +0.5%), and March Euronext wheat closed at €192.00/mt ($221/mt; -0.4%). March U.S. corn futures were unchanged at $4.37/bu ($172/mt).
The Grain Industry Association of Western Australia raised its wheat production forecast by 0.42 mmt to 13.05 mmt. Last year’s output stood at 12.45 mmt. Western Australia accounts for roughly one-third of the country’s total wheat production.
As of November 20, Ukrainian farmers harvested 50.9 mmt of grain (down from 53.4 mmt a year earlier) from 10.2 mln ha (10.8 mln ha), with an average yield of 4.98 mt/ha (4.95 mt/ha), according to data from the Ministry of Economy. Corn output reached 20.8 mmt (down from 23.6 mmt).
As of November 17, Ukraine had planted 5.3 mln ha of winter grains (98% of the plan), in line with last year’s 5.1 mln ha (98%), according to the Ministry of Economy.
Starting November 26, Russia’s wheat export tax will rise to RUB 232.3/mt from RUB 202.7/mt the previous week, the Agriculture Ministry reported.
Iran’s SLAL purchased 180 tmt of corn at $278.5/mt for January–February 2026 delivery via an international tender, European traders said.
