International Wheat Market

26-Mar-2025 08:43 AM

International Wheat Market
In a new round of ceasefire talks, both Russia and Ukraine have agreed to ensure safe navigation in the Black Sea and to refrain from attacking energy facilities, similar to the previous Black Sea Grain Initiative.
SovEcon has reduced its 2024/25 Russian wheat export forecast by 1.5 million metric tons (MMT) to 40.7 MMT. However, the 2025/26 export estimate has been increased by 0.2 MMT to 39.1 MMT.
The European Union’s (EU) soft wheat exports have reached 15.46 MMT from July 1 to date, down from 23.75 MMT during the same period last year, according to the European Commission.
Japan has issued a tender to purchase 119,847 metric tons of wheat in its weekly Ministry of Agriculture tender, with the deadline set for Thursday. Of this, 59,751 MMT will be specifically imported from the United States.