Maize, Wheat, and Rice Prices Show Mixed Global Trends

Maize

• US prices fell by 3% due to expectations of a strong harvest.
• South American prices declined slightly (0.6% in Argentina, 1% in Brazil) as producers were hesitant to sell, slowing shipments.

Wheat

• US prices dropped by 1.3% because of increased crop availability and weak import demand.
• Russian prices rose by 2% due to slow harvesting and quality concerns.
• EU prices eased by 0.5% due to larger harvests and lower demand.

Rice

• The FAO Rice Price Index fell by 2.0% in August due to intense competition among exporters.
• Prices in Thailand, Pakistan, and the US declined due to efforts to increase sales and the start of new harvests.
• Prices increased in India and Vietnam due to strong demand from African and Philippine buyers, respectively.

Maize

Maize prices recently experienced divergent trends across different regions. In the United States, the benchmark US No. 2, Yellow maize price saw a notable 3% decline. This downward movement was primarily driven by the prospect of a strong harvest, which increased supply expectations and put pressure on prices. In contrast, prices in South America showed more moderate declines.

In Argentina (Up River) and Brazil (Paranagua), prices decreased by 0.6% and 1%, respectively. These smaller declines were attributed to hesitant producer selling, which slowed down the delivery of shipments that had already been contracted. This reluctance by producers to sell at current prices acted as a brake on a steeper price fall, creating a different market dynamic compared to the US.

Wheat

International wheat prices also displayed varied movements across different regions. The benchmark United States (US No. 2, Hard Red Winter) price declined by 1.3%. This was mainly due to increased availability from soon-to-be-harvested crops, which boosted supply. Additionally, subdued import demand contributed to the price decrease, as major buyers were not as active in the market.

In contrast, Russian Federation milling wheat (12.5%) quotations ended the month 2% higher. This price increase occurred despite improved yield forecasts and was driven by slow harvesting progress and concerns over the quality of the crop. While pressure on prices eased toward the end of the month, the early August concerns were enough to drive the price up. In the European Union (France, Grade 1, Rouen), prices eased by 0.5%. This was a result of larger year-on-year harvests and weakened import demand, particularly from key buyers in Asia and North Africa, which weighed on the market.

Rice

The FAO All Rice Price Index averaged 101.4 points in August 2025, marking a 2.0% decrease from July. This overall decline was a result of fierce competition among major Indica exporters. A prime example was Thailand, where efforts to attract sales led to quotations for Thai 100% B white rice dropping to their lowest level since March 2017. Similarly, the start of the 2025/26 harvests in Pakistan and the United States added additional downward pressure on prices by increasing supply. However, not all rice prices fell.

In India, quotations for non-parboiled rice increased due to a rise in demand from African buyrs. Prices also rose in Viet Nam as traders rushed to fulfill orders from Philippine buyers. This surge in demand was triggered by an announcement from the Government of the Republic of the Philippines of a 60-day suspension on non-specialty rice imports beginning on September 1, 2025, which created a rush to secure supplies before the ban took effect.