Andrey Sizov
14.08.2024
On Tuesday, grain prices declined. The December SRW wheat contract closed at $5.52/bushel ($203/mt; -1.4% compared to Monday). The September Euronext wheat contract dropped to €222.50/mt ($245/mt; -0.9%). HRW wheat in Kansas closed at $5.62/bushel ($207/mt; -0.2%). The September U.S. corn contract decreased to $3.97/bushel ($156/mt; -1.0%).
EU soft wheat exports from July 1 to August 11 totaled 3.1 mmt, down from 4.0 mmt a year earlier, according to European Commission data. Barley exports reached 1.2 mmt, compared to 1.5 mmt last year, while corn imports rose to 2.4 mmt from 2.0 mmt. The European Commission data does not include France’s trade figures.
Egypt’s GASC is negotiating the purchase of a large wheat shipment outside of the usual tender process, Reuters reported, citing traders. According to the sources, the deal could involve around 30 shipments of 50,000-60,000 mt each. Previously, GASC had announced a tender for 3.8 mmt of wheat but ended up purchasing only around 0.3 mmt.
