Andrey Sizov
29.09.2025
On Friday, U.S. grain futures declined. December SRW wheat closed at $5.20/bu ($191/mt; -1.4% vs. Thursday). December HRW wheat fell to $5.05/bu ($186/mt; -1.3%). December Euronext wheat settled at €189.50/mt ($223/mt; -0.7%). December U.S. corn dropped to $4.22/bu ($166/mt; -0.8%).
The European Commission raised its forecast for EU soft wheat production to 132.6 mmt from 128.1 mmt last month, citing improved crop conditions in Germany and Romania. The export estimate was also increased to 30.1 mmt from 29.8 mmt.
The state of emergency in Russia’s Rostov region will be elevated from regional to federal level due to widespread crop failure, regional governor Yuri Slyusar announced.
Argentina’s government estimates 2024/25 soybean exports at 10.5 mmt, potentially the highest volume in at least seven years. The surge in shipments followed the temporary suspension of export taxes last week.
As of September 25, Ukrainian farmers had harvested 30.4 mmt of grain (vs. 34.3 mmt a year earlier) from 7.2 mln ha (8.0 mln ha), with an average yield of 4.22 mt/ha (4.31 mt/ha), according to the Ministry of Economy. Wheat output totaled 22.5 mmt (22.3 mmt in 2024), while corn harvest reached 1.0 mmt (4.7 mmt).
According to Ukraine’s Ministry of Economy, as of September 22, 0.7 mln ha (14% of the plan) had been sown with winter grains, down from 0.9 mln ha (20%) a year earlier.
Starting October 1, Russia’s wheat export tax will decrease to 617.7 rub/mt from 655.6 rub/mt a week earlier, the Ministry of Agriculture said.
