During the previous week, from 09.05.25 to 16.05.25, global wheat prices showed mixed movements. Prices for:
- soft red winter wheat on the Chicago Board of Trade (CBOT, ZW) rose to 525.00 cents/bushel (+3.86%);
- hard red winter wheat on the Kansas City Board of Trade (KCBT, KE) increased to 516.50 cents/bushel (+1.97%);
- hard red spring wheat on the Minneapolis Grain Exchange (MGE, MWE) fell to 573.25 cents/bushel (-7.02%);
The contract for corn on the Chicago Board of Trade (CBOT, ZC) rose to 443.50 cents/bushel (+0.45%). The price of rice in Chicago (CBOT, ZR) improved to $12.47/cwt (+0.56%).
Indicative prices for products from Russia (FOB Black Sea):
- wheat advanced to $250.90/tonne (+0.20%);
- barley remained stable at $204.00/tonne (+0.00%);
- corn remained unchanged at $220.90/tonne (+0.00%);
The wheat index in Russia, CPT Novorossiysk, decreased to 17248 rubles/tonne (-2.87%).
Purchase prices for 4th class wheat with 12.5% protein content at port elevators near the Black Sea and Azov Sea during the reporting period:
- Azov – 15800 (-300) rubles/tonne
- Novorossiysk – 17800 (0) rubles/tonne
- Rostov-on-Don – 16500 (0) rubles/tonne
- Taganrog – 15500 (-300) rubles/tonne
GRAIN MARKET NEWS
• Unfavorable weather conditions in May led to the loss of over 100 thousand hectares of crops, stated the Ministry of Agriculture of the Russian Federation. Almost all the losses have already been compensated, but the yield from the replanted crops turned out to be lower.
• Due to crop losses and damage from frosts in the Belgorod and Voronezh regions, a state of emergency has been declared. Emergency regimes have also been introduced in 3 areas of the Omsk region due to excessive soil moisture.
• "Rostselmash" has revised its work schedule and moved the annual corporate leave of its staff from August-September to June. According to the company, this measure is necessary due to the sharp deterioration of the agricultural machinery market. Farmers are unable to purchase necessary equipment due to financial difficulties, leading to a significant decline in the market. The Ministry of Agriculture reports that there is a sufficient amount of agricultural machinery to ensure successful sowing and harvesting campaigns.
• Deliveries of Russian agricultural machinery to the domestic market of the Russian Federation in the first quarter of 2025 decreased by 32.9% to 38.3 billion rubles. This information was provided by Rosspetsmash. The most significant decline was noted in the categories of grain combines (-58.3%) and agricultural tractors (-39%). Rosspetsmash does not see conditions for improving the situation in the agricultural machinery market.
• Financing for agriculture, generated from revenues from grain export duties, has been reduced in the draft amendments to the federal budget for 2025. The funds allocated to farmers from exports are proposed to be halved, from 53.3 billion rubles to 28.7 billion rubles.
• A digital grain transportation experiment has started in Russia since May 1. The state information system of electronic cargo documents (GIS ECD) is used for processing grain transportation and its processed products. The Ministry of Agriculture, the Ministry of Transport, and the Federal Tax Service are participating in the testing. Participation in the experiment is voluntary.
• Grain transshipment volumes at seaports in Russia in January-April 2025 decreased by more than 50%. The volume of dry cargo transshipment amounted to 133.7 million tons (-6% compared to the same period last year), including mineral fertilizers – 15.6 million tons (+12.1%), and grain – 12.1 million tons (-52.7%).
• The U.S. Department of Agriculture presented initial forecasts for crop production and exports in the new agricultural year (July 2025 – June 2026). Analysts estimate the expected wheat harvest in Russia at 83 million tons, with export volumes at 45 million tons.
• Reduced customs duties on wheat and corn came into effect on May 21, 2025, while duties on barley remain at their previous zero level.
BELARUS
• Farmers have sown 92.1% of spring crops on an area of over 2.1 million hectares. Corn has been sown on nearly 1.1 million hectares, which is 88.5% of the planned indicator. Sowing of buckwheat (35.3%) and millet (47.7%) is also actively ongoing.
KAZAKHSTAN
• Grain and flour exports from September to April reached almost 10 million tons (+37.4% year-on-year). According to forecasts, grain shipments outside the country by the end of the year could reach 12 million tons (compared to average annual shipments of
