Andrey Sizov
31.10.2025
Grain futures declined on Thursday. December SRW wheat closed at $5.24/bu ($193/mt; -1.5% from Wednesday). December HRW wheat fell to $5.13/bu ($188/mt; -1.8%). December Euronext wheat settled at €191.25/mt ($221/mt; -0.4%). December U.S. corn declined to $4.30/bu ($169/mt; -0.9%).
China agreed to purchase 25 mmt of U.S. soybeans annually, U.S. Treasury Secretary Scott Bessent said. In addition, China pledged to buy 12 mmt by January. In 2024, China imported 26.8 mmt of soybeans from the U.S., while the five-year average is 29.0 mmt.
The European Commission raised its 2025/26 soft wheat production forecast to 133.4 mmt from 132.6 mmt. The barley forecast was raised to 55.9 mmt from 55.7 mmt, while corn remained unchanged at 56.8 mmt.
Winter wheat planting in France was 68% complete as of October 27, compared to 38% a year earlier and 61% on average, FranceAgriMer reported.
Corn harvest in France was 82% complete, up from 36% last year and 74% on average, according to FranceAgriMer.
As of October 29, Argentina’s wheat harvest was 8% complete, in line with last year’s level, according to the Buenos Aires Grain Exchange (BAGE).
Corn planting in Argentina reached 35% by October 29, also matching last year’s pace, BAGE said.
SovEcon estimates Russian wheat exports in October at 5.1 mmt, up from 4.8 mmt a month earlier and above the five-year average of 4.5 mmt. Wheat exports from Russia may exceed average levels for the first time since November 2024. The increase was supported by a recovery in global wheat demand and higher exporter margins.
