Source: Zerno.ru (Russia)
On Tuesday, August 19, 2025, wheat futures fell on all three markets. September soft winter wheat prices on the Chicago Board of Trade (CBOT) fell to $183.16 per ton, hard winter wheat futures on the KCBT in Kansas City fell to $183.53 per ton, and hard spring wheat futures on the MGEX in Minneapolis fell to $208.88 per ton.
September SRW futures in Chicago closed at $4.98-1/2, down 4 ¼ cents, while December futures closed at $5.21-1/4, down 3 ¾ cents. HRW futures in Kansas City closed at $4.99-1/2, down 6 ¾ cents, while December futures closed at $5.21-3/4, down 6 ½ cents. Spring wheat futures in Minneapolis closed at $5.68-1/2, down ¼ cent, while December futures closed at $5.87-1/2, up 1 ¼ cents.
Factors Contributing to Tuesday’s Price Drops in Grain Markets
USDA harvest progress data showed that 94% of winter wheat in the US has been harvested, which is in line with the normal harvest pace of 95%. Spring wheat harvesting is 36% complete, which is below the 5-year average. Spring wheat crop conditions are rated as good or excellent at 50%, which is 1% above average.
The European Commission estimates EU soft wheat exports at 1.78 million tons between July 1 and August 17, less than half of the 3.76 million tons for the same period last year.
Corn futures ended Tuesday’s trading lower. September corn futures closed at $3.79-1/2, down 3 ½ cents. December corn futures closed at $4.03-1/4, down 3 ¼ cents. March corn futures closed at $4.20-3/4, down 3 ½ cents.
The annual ProFarmer agricultural tour began on Monday. Survey results show an increase in corn yields in almost all US states.
The weekly report on the condition of corn crops in the US indicates that the condition of corn crops rated good/excellent this week deteriorated by 1 point to 71%.
ANEC Forecast
According to ANEC, corn exports from Brazil in August are estimated at 8.05 million tons, which is 0.08 million tons more than last week’s estimate.
Soybean futures declined on Tuesday. September soybean futures closed at $10.13, down 7 ¾ cents. November soybean futures closed at $10.33-3/4, down 7 ½ cents. January futures closed at $10.53-1/4, down 6 ¾ cents.
The US Department of Agriculture reported a private export sale of 228,606 tons of soybeans to Mexico, with delivery scheduled for the 2025/26 season.
According to ANEC estimates, total Brazilian soybean exports in August will amount to 8.9 million tons, which is higher than last week’s figure of 8.8 million tons.
China, the world’s largest soybean buyer, has switched to supplies from Brazil amid trade tensions with the US and ongoing negotiations. Chinese buyers have not yet made preliminary purchases of soybeans from the future US harvest, which is causing concern among traders and farmers. China has reportedly purchased large shipments of soybeans from Brazil and Argentina, pre-reserving shipments for September and October.
Canola futures on the Intercontinental Exchange closed lower on Tuesday due to falling crude oil and vegetable oil prices and good US crop ratings. The canola market was also pressured by lower prices for European rapeseed and Malaysian palm oil.
On the Chicago Board of Trade (CBOT) on Tuesday, with delivery in September:
- wheat (Sept. 2025) – $183.16/t (14,730 rubles/t) – down 0.85%;
- corn (Sept. 2025) – $149.41/t (12,020 rubles/t) – down 0.92%;
- soybeans (Sept. 2025) – $372.06/t (29,940 rubles/t) – down 0.76%;
- rice (Sept 2024) – $612.93/t (49,300 rubles/t) – down 0.60%;
- rapeseed (ICE, Nov 2025) – 646.00 CAD/t (37,630 rubles/t) – down 0.87%.
French market
The French wheat market declined on Tuesday. At the end of the trading day, September milling wheat prices on the Paris MATIF exchange fell to €194.50 per ton (equivalent to $226.81), while December wheat futures fell to €193.75 per ton. November corn prices fell to €187.00 per tonne (equivalent to $218.06), while March corn prices fell to €194.25 per tonne.
Russian wheat with 11.5% protein for September delivery cost around $237–240 per tonne FOB, which is about $2–3 cheaper than French wheat. Prices for Ukrainian and Romanian wheat were about $2–3 per tonne higher than Russian wheat.
Russian corn with a protein content of 12.5% cost around $239–242, with demand at around $235–236.
On the Paris Stock Exchange (MATIF) on Tuesday, the closing prices for September and August contracts were as follows:
- milling wheat (SNT 2025) – $226.81/t (18,240 rubles/t) – down 1.20%;
- corn (Nov 2025) – $218.06/t (17,540 rubles/t) – down 0.45%;
- sunflower seeds (on the SAFEX exchange, December 2025) – 10,181.00 ZAR/t (46,470 rubles/t) – down 0.48%;
- sunflower oil (19.08.2025 Rotterdam, bulk FOB) – $1,270.00/t (102,140 rubles/t).