Andrey Sizov
15.08.2024
On Wednesday, grain prices in Chicago rose. The December SRW wheat contract closed at $5.56/bushel ($204/mt; +0.8% compared to Tuesday). The December U.S. corn contract increased to $4.01/bushel ($158/mt; +0.8%). The December Euronext wheat contract fell to €219.50/mt ($242/mt; -1.4%). The December HRW wheat contract in Kansas closed at $5.61/bushel ($206/mt; -0.2%).
In the night from August 13 to 14, the port infrastructure in Odesa was attacked by a ballistic missile, local authorities reported.
The Rosario Grain Exchange in Argentina raised its 2023/24 corn production estimate to 49.0 mmt from 47.5 mmt.
If dry weather conditions persist, Ukraine’s corn production could drop to 20-21 mmt from 30 mmt last year, according to analysts from the Ukrainian Agrarian Council (UAC). The USDA currently estimates Ukraine’s corn harvest at 27 mmt.
From August 1 to 14, Ukraine exported 1.6 mmt of grain, compared to 0.8 mmt in the same period last year, according to the country’s Ministry of Agrarian Policy. Total grain exports for the season reached 5.3 mmt, up from 3.1 mmt last year.
The drought in Brazil has been more severe than last year, which could impact grain shipments through the Amazon, Bloomberg reported, citing barge operator Hidrovias do Brasil SA.
