Andrey Sizov
03.10.2025
Grain futures rose on Thursday. December SRW wheat closed at $5.15/bu ($189/mt; +1.1% from Wednesday). December HRW wheat increased to $4.99/bu ($183/mt; +0.7%). December Euronext wheat settled at €188.00/mt ($220/mt; +0.1%). December U.S. corn climbed to $4.22/bu ($166/mt; +1.2%).
A state of emergency was declared in 11 of 54 districts in Bashkortostan due to excessive soil moisture and crop damage, according to a decree by the regional government. The measure follows “hazardous meteorological events” recorded from mid-August to mid-September. The declaration is intended to enable farmers to claim insurance payouts and recover losses.
The Buenos Aires Grain Exchange (BAGE) raised its estimate for Argentina’s 2025/26 wheat crop to 22.0 mln mt from 20.5 mln mt. BAGE noted that wheat yields are near record levels due to ample soil moisture. As of October 1, 97% of the crop was rated in good or excellent condition, compared with 66% a year earlier and 63% on average over five years.
The Pakistan Flour Mills Association (PFMA) estimated a wheat deficit of 1.5 mln mt in Punjab province. According to PFMA officials, the shortage is localized and not nationwide. The deficit could be filled through domestic or international purchases, depending on the government’s decision. Punjab recently experienced widespread flooding, which affected agricultural land.
Saudi Arabia’s GFSA announced a tender to purchase 420,000 mt of milling wheat for delivery in December–January. In May, GFSA bought 621,000 mt for delivery in August–October.
As of September 26, average wheat yield in Siberia reached 2.7 mt/ha compared with 2.2 mt/ha a year earlier and a five-year average of 1.9 mt/ha, SovEcon said. Wheat yield in Siberia is at record high due to favorable weather through most of the season.
