Andrey Sizov
04.12.2024
On Tuesday, U.S. grain futures were stable. March SRW wheat closed at $5.47/bu ($201/mt), unchanged from Monday. March HRW wheat in Kansas rose to $5.42/bu ($199/mt), up 0.2%. March Euronext wheat closed at €224.75/mt ($236/mt), up 1.0%. March U.S. corn settled at $4.32/bu ($170/mt), unchanged.
Soft wheat exports from the European Union totaled 9.5 million mt from July 1 to December 1, down from 13.8 million mt during the same period last year, according to European Commission data. Barley exports reached 1.9 million mt, compared to 3.1 million mt a year earlier. Analysts noted incomplete export data from France, Bulgaria, Ireland, and Italy for 2024.
Grain quality in Australia has declined due to heavy rains, Reuters reported, citing analysts familiar with the situation. Between 2.5 million and 5.0 million mt of milling wheat (8-16% of total wheat crop) have been downgraded to feed quality, analysts said.
As of December 2, Ukrainian farmers had sown 5.1 million hectares out of the planned 5.2 million hectares. This includes 4.4 million hectares of winter wheat out of 4.5 million hectares and 611,000 hectares of barley out of 639,000 hectares.
Russian agricultural machinery manufacturers reduced domestic sales by 16.5% in monetary terms from January to October 2024, while production fell by 12.6%, Interfax reported, citing Rosspetsmash. The agency noted a growing demand deficit for agricultural machinery despite no shortage of supply.
