Last week, from April 18 to April 25, wheat prices on the world markets decreased. The price of:
- Soft red winter wheat on the Chicago Board of Trade (CBOT, ZW) reduced to 530.00 cents/bushel (-3.42%);
- Hard red winter wheat on the Kansas City Board of Trade (KCBT, KE) dropped to 538.00 cents/bushel (-3.50%);
- Hard red spring wheat on the Minneapolis Grain Exchange (MGE, MWE) fell to 591.25 cents/bushel (-2.47%);
The price of corn futures on the Chicago Board of Trade (CBOT, ZC) decreased to 478.75 cents/bushel (-0.73%). The price of rice in Chicago (CBOT, ZR) declined to $12.94/cwt (-3.93%).
At Russian ports, indicative prices (FOB Black Sea) for:
- wheat increased to $249.00/ton (+0.36%);
- barley remained unchanged at $204.00/ton (+0.00%);
- corn remained at $220.90/ton (+0.00%).
The Russian wheat index, CPT Novorossiysk, dropped to 17705 rub./ton (-2.56%).
Domestic purchasing prices for 4th class wheat, protein 12.5%, at port elevators of the Black and Azov Seas for the reporting period:
- Azov – 16300 (0) rub./ton
- Novorossiysk – 17800 (-400) rub./ton
- Rostov-on-Don – 16500 (0) rub./ton
- Taganrog – 16000 (0) rub./ton
- Taman – 17650 (+150) rub./ton
GRAIN MARKET NEWS
• The sowing of spring crops in Russia is ahead of last year's pace. The sowing campaign has begun in 56 regions. 10.5 million hectares have been sown, which is 1.3 million hectares more than in the same period of 2024. Spring grain crops have been sown on an area of 6.3 million hectares (4.8 million hectares in 2024), including wheat (1.7 million hectares) and barley (2.3 million hectares). A total of 56 million hectares have been allocated for spring sowing this year.
• Russia will extend the ban on raw rice exports from July 1 until the end of 2025. The restriction does not apply to rice for planting. The Ministry of Economic Development is also considering the possibility of exporting processed rice when the harvest exceeds 1.1 million tons in 2026 and subsequent years.
• The harvest of grains and leguminous crops in Russia in 2024 amounted to 129.8 million tons, which is the fifth best harvest in the country's history, according to the Ministry of Agriculture.
• On April 22, Rosselkhoznadzor lifted restrictions on the import of wheat and other agricultural products from Kazakhstan, which had been in place since October 17, 2024. However, new temporary restrictions on the import of wheat, flax seeds, and lentils from Kazakhstan to Russia were introduced on the same day.
• Within the export quota for wheat amounting to 10.6 million tons, Russia will ship no more than 7-7.5 million tons, according to "ProZerno" company. Wheat exports are moving very slowly. As a result, wheat exports in the current season will amount to 40 million tons (compared to 54.1 million tons in the previous agricultural year). The overall grain export potential is estimated at 48-49 million tons (72.2 million tons).
• Due to the reduction in hopper car provision rates, the cost of railroad grain exports decreased by 15–25% in the second quarter. The reduction in grain export quotas and the decrease in winter wheat harvest in 2025 are additional factors reducing the demand for wagons, say analysts at the Center for Grain Market Studies. The surplus of hopper cars forced operators to reduce provision rates to 40%, while railway tariffs remained unchanged. This information was reported by Kommersant newspaper.
The International Grain Council confirmed the forecast for wheat production and exports from Russia in the next agricultural year – 80.6 million tons and 42.5 million tons respectively. It is expected that the total grain harvest will reach 119.3 million tons, with exports amounting to 51.8 million tons.
• Customs duties on all grain crops will be reduced from April 30, 2025.
BELARUS
• Farmers have already sown 51.3% of spring crops on an area of almost 1.2 million hectares. Early spring grains and leguminous crops have been sown on an area of 560.2 thousand hectares, which is 97.4% of the plan. Five regions have already completed sowing of early spring crops. According to the plan, the sowing of corn for grain is 55.2% complete.
KAZAKHSTAN
• In the southern regions, spring crops have already been sown on an area of 813.8 thousand hectares. Grains have been sown on an area of 418.6 thousand hectares. Farmers in the Kyzylorda region have started sowing rice.
UKRAINE
• 2 million hectares have been sown with spring grains and leguminous crops. The largest area of seedlings is for maize – 705 thousand hectares, barley – 702.1 thousand hectares, and spring wheat has already been sown on 199.8 thousand hectares. Farmers have started sowing buckwheat.