Andrey Sizov
05.11.2025
Wheat futures rose on Tuesday. December SRW wheat closed at $5.50/bu ($202/mt; +1.3% from Monday). December HRW wheat climbed to $5.36/bu ($197/mt; +0.9%). December Euronext wheat settled at €194.75/mt ($224/mt; +0.5%). December U.S. corn futures fell to $4.31/bu ($170/mt; -0.6%).
From July 1 to November 2, the EU exported 8.0 mmt of soft wheat, down from 8.3 mmt a year earlier, according to European Commission data. Analysts noted that grain export figures from France, Bulgaria, and Ireland remain incomplete.
From November 1 to 3, Ukraine exported 50 tmt of grain, compared with 670 tmt as of November 6, 2024, according to data from the country’s Economy Ministry. Total exports since the beginning of the season reached 9.4 mmt, down from 15.1 mmt by early November 2024.
For the week ending October 30, the U.S. shipped 0.35 mmt of wheat, in line with market expectations of 0.25–0.45 mmt, according to USDA data. Corn shipments for the same period reached 1.67 mmt, versus expectations of 1.00–1.85 mmt.
According to a Reuters poll, U.S. corn harvest was 83% complete as of November 3, compared with 91% on the same date last year.
Market participants said U.S. winter wheat planting was 91% complete, up from 87% a year earlier.
A cold front settled over major agricultural areas in southern Argentina in recent days, according to the Buenos Aires Grain Exchange. Analysts said the cold snap hit during a “critical period” for wheat crops, but the impact will be assessed in the coming days.
As of October 30, Ukrainian farmers harvested 40.2 mmt of grain (47.9 mmt a year ago) from 8.8 mln ha (10.1 mln ha), with an average yield of 4.48 mt/ha (4.73 mt/ha), according to the Economy Ministry. Corn harvest totaled 10.4 mmt (18.3 mmt a year ago).
As of October 27, Ukraine had sown 4.3 mln ha of winter grains (79% of the plan), down from 4.7 mln ha (90%) last year, the Economy Ministry said.
