Getreide News, 18/Jul/2025

Wheat had a weak start to the week, characterized by declining exports from the USA and increasing tensions in transatlantic trade. The decline in exports, which was particularly noticeable compared to the same week last year, was a clear warning signal for market participants. On the European side, too, there was initially no impetus, which weighed on prices on Euronext. In the middle of the week, the cautious Russian harvest estimate from the analysis company Ikar provided a small glimmer of hope. The USDA remained more optimistic, which brought additional uncertainty. In Ukraine, a tight supply situation supported prices only temporarily before rising harvest volumes put pressure on prices again. At the weekend, disappointing progress in the Ukrainian harvest led to new discussions, but overall the downward trend continued. The US export figures were in line with expectations without providing any new impetus. The corn market proved to be somewhat more robust. Despite a slight decline in exports from the US, demand remained solid. In South America, optimistic export forecasts from Brazil contributed to the positive mood. A key issue was the customs policy in Turkey, where an import duty was temporarily suspended, a move that caused considerable uncertainty among farmers in the region. In the USA, stable ethanol production provided additional support for the market, even though the end of the week was characterized by slight losses. In Europe, maize prices were stable rather than volatile.