Grain Market Overview for January 24, 2025 — Zerno.ru

Written By Viktor Zhuravlev

Key Points:

  1. Global Grain Prices (Jan 17-24, 2025):

    • Wheat:

      • Chicago (CBOT, ZW): 554.00 cents/bushel (+2.83%).

      • Kansas City (KCBT, KE): 570.75 cents/bushel (+4.06%).

      • Minneapolis (MGE, MWE): 604.50 cents/bushel (+3.60%).

    • Corn: 489.75 cents/bushel (+1.14%) on CBOT.

    • Rice: $14.85/cwt (+2.20%) on CBOT.

  2. Russian Indicative Prices (FOB Black Sea):

    • Wheat: Decreased to $240.60/ton (-0.54%).

    • Barley: Increased to $215.90/ton (+0.75%).

    • Corn: Fell to $231.70/ton (-1.99%).

  3. Domestic Russian Prices (CPT Novorossiysk):

    • Wheat Index: Increased to 18,169 RUB/ton (+0.78%).

    • Port elevator prices for 4th-class wheat (12.5% protein):

      • Novorossiysk: 18,750 RUB/ton (-150).

      • Taman: 17,400 RUB/ton (no change).

  4. News Highlights:

    • Subsidized Lending: Ministry of Agriculture plans to allocate 157.8 billion RUB for subsidized loans in 2025, with a borrower rate of up to 8.3%.

    • Seed Import Quotas: Import quotas for barley, corn, and other seeds set for 2025, with zero quotas for wheat and soybeans.

    • Domestic Machinery Monitoring: Ministry to monitor domestic agricultural equipment prices to align with inflation.

    • Winter Crop Update: 88% of winter crops have sprouted in Rostov Region, covering 2.51 million hectares.

    • Export Tariffs: Barley tariffs to rise, while wheat, meslin, and corn tariffs will decrease from January 29, 2025.

  5. Regional Developments:

    • Belarus: 2024 grain harvest totaled 8.3 million tons, with corn harvest exceeding 2 million tons.

    • Kazakhstan: Iran seeks to increase grain imports from Kazakhstan to 3 million tons annually.

    • Ukraine: 48.1% of the country’s agricultural land will be allocated to grain crops in 2025, totaling over 11 million hectares.

Conclusion: Global wheat prices are on the rise, while Russian FOB prices for key grains have shown mixed trends. The Ministry of Agriculture is implementing new policies to stabilize the domestic market, including subsidized loans and price monitoring. Neighboring countries are adjusting strategies to strengthen agricultural trade and production.

Source: Grain Market Overview for January 24, 2025 — Zerno.ru

Viktor Zhuravlev
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