Global Grain Market Sees Mixed Trends on April 22, 2025
Global grain markets reflected mixed movement on April 22. Wheat and corn futures declined across U.S. and EU exchanges, while soybeans and canola prices rose, supported by trade optimism and regional weather dynamics.
Wheat Prices Drop Despite Strong EU Import Volumes
On the Chicago Board of Trade (CBOT):
- Soft red winter wheat: $196.76/ton (−0.56%)
- Hard red winter wheat (KCBT): $200.62/ton (−0.87%)
- Spring wheat (MGEX): $218.81/ton (−0.75%)
Despite strong U.S. spring wheat planting (17%, above 5-year average), U.S. wheat quality declined (45% rated good/excellent vs. 47% prior week). U.S. exports hit 0.51 million tons.
In the EU, soft wheat imports rose to 16.76 million tons (vs. 14.9M last year). Russia exported 4.2 million tons of wheat since February under its 10.6M ton quota.
Corn Weakens Despite U.S. Planting Progress and Brazilian Yield Forecast
CBOT corn futures fell:
- May: $187.30/ton (−1.25%)
- July: $190.20/ton (−1.38%)
U.S. corn planting reached 12%, just ahead of the 5-year average. Dr. Michael Cordonnier raised Brazil’s corn harvest forecast to 125 million tons, Argentina to 48M tons.
Despite favorable planting, rain forecasts for the Midwest may slow near-term progress. U.S. corn exports reached 1.70 million tons, above expectations.
Soybean Futures Rise as Trade Tensions Ease
CBOT soybean futures increased:
- May: $380.29/ton (+0.93%)
- July: $385.40/ton (+0.82%)
U.S. soybean planting is 8% complete. Soybean optimism was boosted by comments from U.S. Treasury Secretary Bessent, who expressed hope for de-escalation in U.S.-China trade tensions.
From July 2024 to April 2025, the U.S. exported:
- Soybeans to EU: 11.22M tons (+9% YoY)
- Soybean meal: 15.14M tons (vs. 12.02M YoY)
Canola and Sunflower Oil Markets React to Global Oilseed Trends
ICE (Canada) May rapeseed rose to CAD 672.80/ton (+2.09%), buoyed by Chicago soybeans and Malaysian palm oil. However, losses in soy oil and EU rapeseed limited gains.
Sunflower oil FOB Rotterdam was quoted at $1,220/ton. South African sunflower seed (SAFEX) dropped 1.81% to ZAR 8,611/ton.
Currency Benchmarks (April 22, 2025):
- USD = 80.76 RUB
- EUR = 93.67 RUB
- CAD = 58.28 RUB
- ZAR (per 10) = 42.79 RUB
Top Producers and Exporters (2024–2025):
- Wheat: Russia, U.S., EU; top importers: Egypt, China, Turkey
- Corn: U.S., Brazil, Argentina; key importers: China, EU, Japan
- Soybeans: Brazil, U.S., Argentina; top importers: China, EU
Global Export Stats (latest):
- Russia wheat export quota: 10.6M tons
- U.S. soybean exports to EU: 11.22M tons
- EU soft wheat imports: 16.76M tons
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