Grain Market Overview as of March 21, 2025

1. Global Wheat Prices: Increased across major exchanges, with soft red winter wheat on the Chicago Board of Trade and hard red winter wheat in Kansas City showing slight gains.

2. Corn and Rice: Corn prices rose in Chicago, whereas rice prices slightly decreased.

3. Russian Market: Indicative prices for wheat increased, but the domestic wheat index fell. Export duties on grains such as wheat and barley have financially impacted Russia's budget less than anticipated.

4. Turkish Import Regulations: Eased restrictions on wheat imports could temporarily bolster Russian exports despite upcoming harvests.

5. Domestic and International Forecasts: The International Grains Council released initial grain and wheat harvest forecasts for the 2025/2026 season, predicting robust harvests and exports from Russia.

6. Fuel and Agricultural Insights: Russia’s energy sector reports sufficient fuel reserves for the upcoming planting season. A reduction in customs duties on all grain crops is expected by late March.

Conclusion

This overview highlights the dynamic nature of grain prices and market conditions, reflecting changes in international policies, domestic economic measures, and seasonal forecasts affecting global and Russian grain markets.

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