Andrey Sizov
11.09.2025
Grain futures continued to decline on Wednesday. The December SRW wheat contract closed at $5.15/bu ($189/mt; -1.0% from Tuesday). The December HRW wheat contract fell to $5.07/bu ($186/mt; -0.6%). The December Euronext wheat contract settled at €188.75/mt ($221/mt; unchanged). The December U.S. corn contract declined to $4.17/bu ($164/mt; -0.6%).
The Rosario Grain Exchange estimates Argentina’s 2025/26 corn crop at 61 mmt, up from 48.5 mmt in 2024/25. The sharp increase is driven by expanded planting area, which is expected to reach 9.7 mln ha, compared with 8.3 mln ha a year earlier.
Frosts as low as -5°C are forecast in southern Western Siberia between September 10 and 14, according to Roman Vilfand, scientific director of Russia’s Hydrometeorological Center. Temperatures in southeastern Bashkortostan are also expected to drop to -2°C.
Pakistan’s Information Minister Azma Bukhari called recent claims of a wheat shortage in the country “baseless” and said national stocks are sufficient.
Last week, FOB prices for 12.5% protein wheat fell by $4 to $228–230/mt, the lowest since early July. Russian export prices declined on weaker domestic prices, high supply, and sluggish demand.
