Andrey Sizov
03.12.2024
On Monday, US grain futures were mostly flat. March SRW wheat closed at $5.47/bu ($201/mt), down 0.1% from Friday. March HRW wheat in Kansas settled at $5.40/bu ($199/mt), unchanged. March Euronext wheat rose to €222.50/mt ($234/mt), up 0.5%. March US corn futures edged down to $4.32/bu ($170/mt), down 0.1%.
Morocco’s National Federation of Grain and Pulses Traders (FCNL) and Russia’s Union of Grain Exporters signed a memorandum to facilitate Russian grain shipments to Morocco. The plan includes 1.0 million mt of shipments in the current season, with an increase to 1.5 million mt next season.
Recent rains in key agricultural regions of Argentina have reduced soil moisture deficits, according to analysts at the Rosario Board of Trade. Corn production is projected at 50.0–51.0 million mt, while wheat production remains at 18.8 million mt.
Australia’s ABARES raised its forecast for wheat production in the 2024/25 season by 60,000 mt to 31.9 million mt, citing good yields in the east and west, which offset losses in the south.
As of December 2, Ukraine exported 18.4 million mt of grain in the 2024/25 season, up from 13.4 million mt a year earlier, according to the Ministry of Agrarian Policy. Wheat exports reached 9.0 million mt, up from 5.9 million mt, while corn exports totaled 7.2 million mt, up from 6.5 million mt.
