Wheat Market Outlook - February 24, 2025

According to Mercantile, Russian exports have slowed dramatically which is supportive to global prices. Mercantile notes cold conditions likely hurt the Black Sea and U.S. crops, but it will be difficult to determine the impact until condition ratings are released. If conditions are reported to be poor, Mercantile assumes the market could react accordingly and give some pricing opportunities for both old and new crop. Outside of a major issue in the U.S. or Black Sea, the market seems comfortable with the current volume of supply.