While wheat, corn, and soybean futures saw mixed movements, broader market trends, including U.S.-China tariff tensions, South American drought conditions, and shifting global demand, continue to shape the agricultural landscape.
Global grain markets saw mixed movements on Tuesday, with wheat and soybeans posting gains while corn edged higher. Geopolitical tensions, shifting trade policies, and weather developments in South America continue to shape market sentiment.
According to a forecast by Rusagrotrans, Russia is expected to export 2.2 - 2.3 million tons of grain in February 2025 (compared to 4.4 million tons in February 2024), marking the lowest level since February 2020, when exports stood at 1.9 million tons.
Over the past week, wheat futures in Chicago increased, corn futures declined, the price of the current soybean crop fell while the new soybean crop rose, soymeal futures decreased, and soyoil futures increased. In Paris, wheat futures rose, the price of the current corn crop increased while the price of the new corn crop declined, and rapeseed futures decreased.
For the week of February 5–11, Russia’s export tax on wheat will be 3,941.6 RUB/ton (previously 4,430.1). The export tax on barley will be at 3,012.5 RUB/ton (previously 3,407.8), and the export tax on corn will be 4,255.3 RUB/ton (previously 4,659.1).
Yesterday, wheat futures in Chicago increased, while corn, soybeans, soymeal, and soyoil futures declined. In Paris, wheat and corn futures rose, while rapeseed futures showed mixed movement.
Since the beginning of the season, EU soft wheat exports have reached 12.18 million tons (-37% compared to the previous season), while barley exports stand at 2.47 million tons (-29%).
Yesterday, wheat, corn, soybean, and soymeal futures in Chicago increased, while soyoil futures declined. In Paris, wheat, corn, and rapeseed futures rose.
