Wheat prices ended the week on a sharp upward acceleration this Friday evening in chicago,thus erasing all the losses which had followed the publication of the last monthly report of the USDA,last Monday. Despite an upward revision of the Russian and Argentinian harvests, the market is indeed regaining firmness in reaction to logistical disruptions in Ukraine caused by Russian strikes on the country’s port infrastructure and merchant ships. The critical drop in temperatures in russia is also causing renewed concern about the potential of the country’s next harvest.
Corn also finished up more than 1% this Friday evening, driven by sales of 120 kt of corn to Japan and 298 kt to unknown destinations, confirmed by the USDA during the session. Unlike wheat, though, corn has retained a negative weekly balance sheet after his dropout recorded last Monday. Soybeans, for their part, started to rise again, within a rather well-oriented oilseed complex after the announcement of a trade agreement reached between Ottawa and Beijing, including a reduction from 85 to 15% of Chinese import taxes on Canadian canola.
At the Chicago close, SRW wheat due March 2026 rose again from 7.5 c$/bu, to 5.18 $/bu. Corn futures March 2026 rose from 4.5 c$/bu to 4.25 $/bu. Soya beans for March 2026 delivery advanced by 4.75 c$/bu, to $10.58/bu.
Worth a look