Global wheat market: Wheat prices fall as weather improves in the northern hemisphere

Published 2025년 4월 28일

Tridge summary

U.S. winter wheat conditions have deteriorated, with a decrease in excellent ratings and slow heading rate, although rainfall is expected to improve growth. The USDA's crop progress report shows that the planting progress of spring wheat is behind schedule due to drought conditions in several states, with 33% of winter wheat and 49% of spring wheat currently in drought areas. In international markets, the outlook for Black Sea wheat production has improved due to improved weather in Russia and Ukraine, with Argus predicting increased production for both countries. However, former U.S. President Trump's proposal of recognizing Crimea as part of Russia's territory in a potential peace agreement with Ukraine has been met with resistance. The EU's soft wheat yield potential has improved, but U.S. wheat export sales remain sluggish, and Russian wheat exports continue to decline due to export quotas and a stronger ruble, leading to increased domestic prices.

Disclaimer:The above summary was generated by Tridge's proprietary AI model for informational purposes.

Original content

On Friday (April 25), Chicago Board of Trade (CBOT) July soft red winter wheat futures closed at $5.45/bushel, down 3.1% from a week ago. Kansas City Board of Trade (KCBT) July hard red winter wheat futures closed at $5.51/bushel, down 3.3%. Minneapolis Grain Exchange (MGEX) July hard red spring wheat futures closed at $6.0625/bushel, down 2.1%. Euronext May wheat price was 209.25 euros/ton, down 1.5%. Argentina Upper River wheat was quoted at $247/ton, down 1.2%. ICE dollar index closed at 99.254 points, up 0.13% from a week ago. US winter wheat conditions worsen, but rainfall is expected to improve growth The U.S. Department of Agriculture's weekly crop progress report shows that as of April 20, the proportion of U.S. winter wheat with excellent ratings was 45%, 47% a week ago, and 50% in the same period last year. The heading rate of winter wheat was 15 %, 8% a week ago, 16% in the same period last year, and 13% in the five-year average. In the top winter wheat producing ...

Source: Foodmate