Andrey Sizov
29.10.2025
U.S. grain futures continued to rise on Tuesday. December SRW wheat closed at $5.29/bu ($194/mt; +0.6% from Monday). December HRW wheat rose to $5.20/bu ($191/mt; +1.1%). December Euronext wheat settled at €192.25/mt ($224/mt; -0.6%). December U.S. corn increased to $4.32/bu ($170/mt; +0.8%).
On Thursday, U.S. President Donald Trump and Chinese President Xi Jinping are scheduled to meet in South Korea. The meeting is expected to focus on a deal that could allow China to resume purchases of U.S. soybeans.
Chinese state-owned trader COFCO purchased three cargoes of U.S. soybeans ahead of the Trump-Xi summit, Reuters reported, citing sources. These were the first new-crop U.S. soybean purchases by Chinese importers.
U.S. Agriculture Secretary Brooke Rollins said Japan agreed to purchase $8 billion worth of U.S. agricultural products. It remains unclear whether this is an increase over current volumes or an annual commitment. Japan’s average agricultural imports totaled $14.3 billion over the past five years.
The European Commission’s MARS unit lowered its EU corn yield forecast to 6.82 mt/ha, down from 6.88 mt/ha in September and below the five-year average of 7.10 mt/ha.
Winter grain sowing in most of Central and Western Europe is proceeding at average pace, MARS reported in its monthly update. However, planting is delayed in Bulgaria and Romania due to wet weather, while drought is hindering fieldwork in Spain.
From July 1 to October 26, the EU exported 6.2 mmt of soft wheat, down from 7.9 mmt a year earlier, according to European Commission data. Analysts cautioned that figures from France, Bulgaria and Ireland are incomplete.
