25.04.2025, 12:51
Wheat Falls, Soybeans Strengthen: Market Summary for April 23
Wheat prices declined due to expected rainfall that may benefit U.S. crops
On April 23, global grain markets demonstrated mixed trends. Key wheat futures on U.S. exchanges closed lower:
• Soft red winter wheat on CBOT fell to $194.10/ton,
• Hard red winter wheat on KCBT dropped to $197.59/ton,
• Hard spring wheat on MGEX declined to $217.34/ton.
The decrease is largely attributed to weather forecasts: widespread rainfall is expected across the U.S. in the coming days, which could improve crop conditions.
Meanwhile, the soybean market showed moderate growth. May contracts on CBOT strengthened to $382.59/ton (+0.6%), driven by market optimism over a potential easing of U.S.–China trade tensions.
Corn futures continued to fall. May contracts ended at $185.83/ton (-0.79%). Analysts are awaiting export sales data, with projections ranging from 0.8 to 1.3 million tons for the week ending April 17.
On the MATIF exchange (Paris), milling wheat remained steady — €208.75/ton (approx. $238.41) for May contracts, while December futures declined slightly. French corn also showed a downward movement.
Despite weak wheat exports from the EU (17.2 million tons since the start of the season, compared to 26.1 million tons a year earlier), importing countries remain active. South Korea purchased 50,000 tons of U.S. wheat, and Jordan bought 60,000 tons at $261.70/ton (C&F).
The sunflower and oil markets saw minimal changes:
• Sunflower (SAFEX) — 8573 ZAR/ton (-0.44%),
• Sunflower oil (FOB Rotterdam) — $1220/ton.
Key Takeaways:
🔹 Wheat prices declined due to expected rainfall that may benefit U.S. crops.
🔹 Soybeans rose on speculation of eased U.S.–China tensions.
🔹 Corn fell further, with traders awaiting export figures.