Market update week 43
On the global market, after a recent drop in prices, the current stabilization of wheat prices seems to be encouraging some buyers to return. Tunisia has issued a tender to purchase 125,000 tons of soft wheat, with shipments scheduled for the end of the year. Regarding exports, Ukraine’s latest figures show a rise compared to the previous year. The Ukrainian Ministry of Agriculture reported that 7.2 million tons of wheat have already been exported since the start of the season.
On the global market, after a recent drop in prices, the current stabilization of wheat prices seems to be encouraging some buyers to return. Tunisia has issued a tender to purchase 125,000 tons of soft wheat, with shipments scheduled for the end of the year. Regarding exports, Ukraine’s latest figures show a rise compared to the previous year. The Ukrainian Ministry of Agriculture reported that 7.2 million tons of wheat have already been exported since the start of the season.
According to the USDA’s weekly report, there has been an acceleration in soybean and corn harvests. Over the past week, harvested soybean areas increased by 14 percentage points, bringing the total to 81%, indicating the harvest is nearing completion. The corn harvest progressed even faster, with 65% of the areas harvested, up 18 percentage points in a week.
According to the USDA’s weekly report, there has been an acceleration in soybean and corn harvests. Over the past week, harvested soybean areas increased by 14 percentage points, bringing the total to 81%, indicating the harvest is nearing completion. The corn harvest progressed even faster, with 65% of the areas harvested, up 18 percentage points in a week.
The first projections for Russia’s 2025 wheat crop estimates are set at 80.1 million metric tons (MMT) by Sovecon, while IKAR offers a broader estimate of 80 to 85 MMT. This is close to the current harvest estimate of 82 million metric tons but significantly lower than the previous two seasons, which were around 92 MMT. The planted area is expected to slightly decline from 28.5 to 28.4 million hectares next season.
The first projections for Russia’s 2025 wheat crop estimates are set at 80.1 million metric tons (MMT) by Sovecon, while IKAR offers a broader estimate of 80 to 85 MMT. This is close to the current harvest estimate of 82 million metric tons but significantly lower than the previous two seasons, which were around 92 MMT. The planted area is expected to slightly decline from 28.5 to 28.4 million hectares next season.