World: Wheat markets rise on production worries

Sign up to receive the Weekly Market Report and Grain Market Daily from AHDB Crop worries in key global producers, as well as access to Black Sea grain and short covering by speculative traders have continued to support wheat prices this week. While prices are up, they remain below the recent peaks on 2/3 October. Uncertainty over the size of the 2024/25 Russian crop and slow planting of the 2025 crop, amid dry weather, have been factors in markets for a couple of weeks now. The Russian government reportedly trimmed its estimate of the 2024 wheat crop from 84.0 – 86.0 Mt to 83.0 Mt yesterday. Against this backdrop, and with strong exports so far, there are rumours that Russia could introduce a higher minimum export price. If measures are introduced, it would likely add to the nervous sentiment. Some rain is predicted in key producing regions of the country for the week ahead. Dry weather also caused planting delays in Ukraine, though there are reports that recent rain has helped, ...