Global Ag News for Apr 8.2025

TOP HEADLINES

Russia to remain global wheat export leader with 22% market share this marketing year – Rusagrotrans

MOSCOW. April 7 (Interfax) – Russia will remain the global wheat export leader with a 22% market share in the July 2024-June 2025 marketing year, despite a drop in shipments, the Rusagrotrans analytical center said.

“Wheat exports from Russia this season are projected at almost 40.8 million tonnes. Russia will remain the leader in supplies to the world market with about 22% of total volume wheat trade excluding flour, compared to just under 28% in the 2023/2024 season, when 55.5 million tonnes were exported,” the center told Interfax.

The lower share is due to the higher supplies by the United States and Argentina, while supplies by Canada, Australia and a number of Eastern European countries remain close to last year’s level.

The center said Russia exported approximately 36.2 million tonnes of wheat, including EAEU countries, in the July-March period, a drop of 4.7 million tonnes from the previous record export season but still above the five-year average of 34.1 million tonnes. The current figure ranks third after the 2023/2024 season when 36.65 million tonnes of wheat were exported during the same period.

Egypt leads by Russian wheat imports, shipping in 7.6 million tonnes, up 1.7 million tonnes from last season. Bangladesh is second with 2.55 million tonnes, down 0.4 million tonnes. Turkey only lifted restrictions on duty-free soft wheat imports on March 19 and imported 2.52 million tonnes.

Algeria imported 1.68 million tonnes, down from 1.75 million tonnes. Kenya imported a record 1.43 million tonnes for the first eight months of a season, compared with 1.32 million tonnes in the same period of the previous season.

Wheat exports to Iran resumed in March after a four month gap with 144,000 tonnes shipped.

Russia exported 1.84 million tonnes of wheat in March, down from 2.08 million tonnes in February.

 

FUTURES & WEATHER

Wheat prices overnight are up 5 in SRW, up 3 1/2 in HRW, up 3 1/4 in HRS; Corn is up 2 1/4; Soybeans up 9 3/4; Soymeal up $2.10; Soyoil up 0.24.

For the week so far wheat prices are up 15 1/4 in SRW, up 9 1/4 in HRW, up 14 1/2 in HRS; Corn is up 7 1/2; Soybeans up 20 1/2; Soymeal up $8.70; Soyoil down 0.29.

For the month to date wheat prices are up 4 1/2 in SRW, up 5 3/4 in HRW, up 5 1/4 in HRS; Corn is up 9 3/4; Soybeans down 22; Soymeal down $2.20; Soyoil up 0.36.

Year-To-Date nearby futures are down 1.3% in SRW, up 1.3% in HRW, up 0.5% in HRS; Corn is up 2.1%; Soybeans down 0.1%; Soymeal down 5.1%; Soyoil up 14.6%.

Chinese Ag futures (MAY 25) Soybeans up 48 yuan; Soymeal up 23; Soyoil down 44; Palm oil down 46; Corn down 6 — Malaysian Palm is up 2.

Malaysian palm oil prices overnight were up 2 ringgit (+0.05%) at 4187.

 

There were no changes in registrations. Registration total: 459 SRW Wheat contracts; 0 Oats; 223 Corn; 459 Soybeans; 1,455 Soyoil; 1,223 Soymeal; 344 HRW Wheat.

Preliminary changes in futures Open Interest as of April 7 were: SRW Wheat down 11,623 contracts, HRW Wheat down 7,828, Corn down 41,570, Soybeans down 17,394, Soymeal down 6,186, Soyoil down 11,221.

 

DAILY WEATHER HEADLINES: 08 APRIL 2025

• NORTH AMERICA: Cool air masses will regularly sweep across the Northeast U.S. and Midwest through the next 2 weeks, influencing early plantings and developing wheat conditions
• SOUTH AMERICA: The recent precipitation forecasts are trending wetter for Central Brazil in the next week, a favorable trend for the 2nd corn crop
• SOUTH ASIA: Warm and mostly dry weather in Northwest India will support wheat crop harvest progress
• EAST ASIA: Cold spell will arrive in NE China late week but it should not reach key crop areas in the North China Plain

 

SOUTH AMERICA WEATHER UPDATE FOR 07 APRIL 2025

What to Watch:

• Moderate weather conditions in Argentina through the next couple weeks should have minimal impacts on the corn/soybean harvest, while conditions could turn cooler/wetter late in the month
• Warmth will persist over most of Brazil into the foreseeable future, though a round of regional high rainfall will benefit crops
• Cool/wet weather through the next couple weeks in Paraguay will hamper the corn/soybean harvest

 

Northern Plains: Isolated showers Tuesday-Wednesday. Mostly dry Thursday-Friday. Temperatures above normal west and below normal east Tuesday, above normal Wednesday-Friday. Outlook: Isolated to scattered showers Saturday-Sunday. Mostly dry Monday-Tuesday. Isolated to scattered showers Wednesday. Temperatures above normal Saturday, near to above normal Sunday, near to below normal Monday-Wednesday.

Central/Southern Plains: Mostly dry through Friday. Temperatures near to above normal Tuesday, above normal Wednesday-Friday. Outlook: Mostly dry Saturday-Monday. Isolated to scattered showers Tuesday-Wednesday. Temperatures above normal Saturday-Sunday, near to above normal Monday-Wednesday.

Midwest West: Isolated showers Tuesday night-Thursday. Mostly dry Friday. Temperatures below normal Tuesday, near normal Wednesday-Friday.

Midwest East: Mostly dry Tuesday. Scattered showers Wednesday-Thursday. Mostly dry Friday. Temperatures below normal through Wednesday, near to below normal Thursday-Friday. Outlook: Mostly dry Saturday. Isolated to scattered showers Sunday-Wednesday. Temperatures above normal west and below normal east Saturday, near to above normal Sunday-Tuesday, near to below normal Wednesday.

 

The player sheet for 4/7 had funds: net buyers of 3,000 contracts of SRW wheat, buyers of 3,500 corn, buyers of 2,000 soybeans, buyers of 3,500 soymeal, and sellers of 3,000 soyoil.

 

TENDERS

• DURUM WHEAT TENDER: Algeria’s state grains agency OAIC issued an international tender to purchase a nominal 50,000 metric tons of durum wheat sourced from optional origins.
• RICE TENDER: South Korea’s state-backed Agro-Fisheries & Food Trade Corp. issued international tenders to purchase about 80,000 metric tons of rice.

 PENDING TENDERS

• WHEAT TENDER: Leading South Korean feedmaker Nonghyup Feed Inc. (NOFI) has issued an international tender to purchase up to 60,000 metric tons of animal feed wheat
• WHEAT TENDER: Jordan’s state grain buyer issued an international tender to buy up to 120,000 metric tons of milling wheat that can be sourced from optional origins
• BARLEY TENDER: Jordan’s state grains buyer issued an international tender to purchase up to 120,000 metric tons of animal feed barley
• RICE TENDERS: The lowest price offered in a tender from Bangladesh’s state grains buyer to purchase 50,000 metric tons of rice that closed on March 27 was estimated at $416.44 a metric ton CIF liner out.
• WHEAT TENDER: A state grains buyer in Syria issued an international tender to purchase about 100,000 metric tons of milling wheat.

 

 

 

TODAY

USDA CROP PROGRESS: Winter Wheat Crop 48% Good/Excellent

Highlights from the report:

• Winter wheat 48% G/E vs 56% a year ago
• Corn planted 2% vs 3% a year ago
• Spring wheat planted 3% vs 3% a year ago
• Cotton planted 4% vs 5% a year ago
• Sorghum planted 13% vs 13% a year ago

 

US Inspected 1.583m Tons of Corn for Export, 804k of Soybeans

In week ending April 3, according to the USDA’s weekly inspections report.

• Wheat: 335k tons vs 502k the previous wk, 517k a yr ago
• Corn: 1,583k tons vs 1,647k the previous wk, 1,465k a yr ago
• Soybeans: 804k tons vs 813k the previous wk, 492k a yr ago

 

US Corn, Soybean, Wheat Inspections by Country: April 3

Following is a summary of USDA inspections for week ending April 3 of corn, soybeans and wheat for export, from the Grain Inspection, Packers and Stockyards Administration, known as GIPSA.

• Soybeans for China-bound shipments made up 341k tons of the 804k total inspected
• Mexico was the top destination for corn inspections, and also led in wheat

 

Brazil Soybean Harvest 87% Done as of April 3: AgRural

• Pace compares with 82% a week earlier and 78% at the same time last year, according to an emailed report from consulting firm AgRural
• Summer corn harvest in Brazil’s Center-South region was 88% completed, vs 82% the week before and 85% a year earlier
• With the soybean harvest almost completed, AgRural says it’s suspending the release of weekly reports, will resume at the end of May when harvest of winter corn crop starts

 

Brazil 2024/25 Soybean Harvest 86.6% Done as of Apr. 4: Safras

Brazil’s 2024/25 soybean harvest was 86.6% completed as of last Friday, consultancy Safras & Mercado said in an emailed statement.

• Pace compares to 83.1% a week earlier and 78.2% in the same period last year
• Five-year average at 83.1%

 

Argentina Strike to Impact Ports April 9-10 Amid Harvest: Nabsa

Operations at all Argentine ports are expected to be impacted on April 9 and 10 as the country’s biggest umbrella union, the CGT, plans a national strike, shipping agency Nabsa said in a note to clients.

• NOTE: It’s the start of the busiest time of year for Argentina’s grain terminals as farmers harvest soybeans and corn

 

Vicentin Shutters 2 Plants as Bunge Takeover Remains in Balance

Bankrupt Argentine oilseed crusher Vicentin SAIC is stopping operations at its Ricardone and Avellaneda plants, it said in a statement.

• NOTE: Ricardone is a sunflower crushing plant; Avellaneda mainly produces biofuels
• Decision taken as Vicentin fails to reach toll arrangements at the plants with other traders
  • NOTE: Toll arrangements have helped Vicentin survive its bankruptcy protection
• Vicentin hopes to be able to re-open the plants once its legal future is settled
  • NOTE: Vicentin is appealing a court ruling that has put a Bunge-led rescue at risk and opened the door for other takeover bids

 

Argus Keeps Ukraine 2025-26 Wheat Crop Forecast at 23.7M Tons

Argus sees Ukraine’s 2025-26 wheat production at 23.7m tons after a virtual crop tour in March, unchanged from a November forecast, according to report.

• That volume is up from 22.3m tons in 2024-25, and highest since 2021-22 season: Argus report
• Ukraine’s wheat harvested area in 2025-26 seen at 5.25m hectares, up from estimated 4.9m hectares in 2024-25 season
• Ukraine average wheat yields in 2025-26 seen at 4.51 tons per hectare, higher than five-year average of 4.34 t/ha
• Survey of farmers shows that soil moisture was main concern, mainly in some central regions, but recent rainfall could improve crop conditions and help development
• NOTE: Argus data is for regions not under control of Russia

 

WHEAT/CEPEA: Low supply keeps prices high; imports increase

The wheat supply continues low in the domestic market in this offseason period, keeping prices high. The limited availability and high quotations have been boosting wheat imports.

In March, Brazil imported 651.79 thousand tons of wheat, 12% more than in February and 27.6% above that verified in March/24 – data from Secex. The average import price was at USD 234.07 per ton last month, which would be equivalent to BRL 1,344.25/ton, more competitive than that verified in the domestic market – data from Cepea indicate that average values in Rio Grande do Sul and in Paraná were at BRL 1,400/ton and at BRL 1,500/ton in March.

In the accumulated of 2025, imports totaled 1.951 million tons, 18% more than in the first quarter of 2024 – data from Secex.

As for shipments, the amount was at 280.06 thousand tons in March/25, the lowest volume of this year.

According to data from Cepea, between March 28 and April 4, the prices paid to wheat farmers (over-the-counter market) rose 1.5% in Rio Grande do Sul, 0.74% in Paraná and 0.37% in Santa Catarina. In the wholesale market (deals between processors), values moved up 2.18% in Paraná, 1.37% in Rio Grande do Sul, 3.8% in Santa Catarina and 1.45% in São Paulo. Dollar quotations increased 1.35% against Real in the same comparison, at BRL 5.836 on April 4.

 

Indonesia to Adjust CPO Export Tax, Finance Minister Says

Indonesia to adjust export tax for crude palm oil shipments to reduce burden for companies amid higher US tariff, Finance Minister Sri Mulyani Indrawati says on Tuesday.

• The policy could reduce the “burden” as much as 5%, Indrawati says without more details
• NOTE: Palm oil exporters required to pay export tax and additional levy before shipment

 

 

 

 

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