Andrey Sizov
20.08.2024
On Monday, U.S. grain prices were stable or rising. The December SRW wheat contract closed at $5.52/bushel ($202/mt), unchanged from Friday. The December HRW wheat contract in Kansas City closed at $5.56/bushel ($204/mt; +0.3%). The December corn contract rose to $4.00/bushel ($158/mt; +2.0%). The December Euronext wheat contract fell to €216.00/mt ($239/mt; -1.3%).
The percentage of U.S. corn crops in good to excellent condition remained at 67% for the third consecutive week, compared to 58% a year earlier, according to USDA data. The percentage of spring wheat crops rated in good to excellent condition increased to 73% from 72% the previous week and 38% last year.
Egypt remains committed to its goal of importing 3.8 million metric tons (mmt) of wheat by the end of 2024, according to the country’s Supply Minister, Sherif Farouk.
From August 1 to 19, Ukraine exported 2.1 mmt of grain, up from 1.3 mmt during the same period last year, according to the Ministry of Agrarian Policy. Total exports for the season reached 5.8 mmt, compared to 3.6 mmt last year.
Canada’s two largest railway companies, Canadian National Railway Co. and Canadian Pacific Kansas City, may halt operations starting Thursday if an agreement is not reached with striking workers, Bloomberg reports. The majority of grain in Canada is transported by rail, so a rail shutdown could significantly impact shipments.
