13.05.2025, 20:14
Wheat Prices Decline, Soybeans Rise: Global Grain Market Overview
Wheat prices decline amid record harvest forecasts and rising U.S. stock levels
On May 12, wheat futures in the United States fell amid high stock estimates and favorable crop forecasts. July contracts dropped to: soft red winter wheat — $189.32/t, hard red winter — $186.65/t, and hard spring — $214.58/t. The USDA improved its assessment of winter wheat conditions, and spring wheat planting has been completed on 66% of the planned area. A record global wheat harvest of 808.5 million tons is expected. At the same time, U.S. wheat stocks may reach a six-year high.
Corn futures showed mixed dynamics: the July contract closed at $176.38/t (-0.39%), while the December contract was up. Planting in the U.S. is ahead of schedule, and the stock forecast has been lowered to 1.415 billion bushels. Weekly exports totaled 1.22 million tons, with Japan, Mexico, and South Korea as the main destinations.
Soybean prices rose to $393.61/t (+1.85%) following news of trade concessions between the U.S. and China. The USDA lowered its soybean stock forecast, and weekly exports rose by 27.7%. Egypt and Indonesia were the leading importers.
On the MATIF exchange, wheat and corn prices increased due to the weakening euro. Sunflower oil prices in Rotterdam remained stable at $1,220/t.
Thus, while the global wheat market remains under pressure, the oilseed sector continues to show steady growth. For Kazakhstani exporters, this is a signal to respond flexibly to external price shifts.
🔑 Key Takeaways:
🔹 Wheat prices decline amid record harvest forecasts and rising U.S. stock levels
🔹 Soybeans rise after U.S.–China trade concessions; weekly exports up 27%
🔹 Corn shows mixed movement, but U.S. planting is ahead of seasonal norms