Andrey Sizov
05.12.2024
On Wednesday, wheat futures were stable. March SRW wheat closed at $5.48/bu ($201/mt), up 0.1% from Tuesday. March HRW wheat in Kansas settled at $5.42/bu ($199/mt), also up 0.1%. March Euronext wheat closed at €224.50/mt ($236/mt), down 0.1%. March U.S. corn declined to $4.30/bu ($169/mt), down 0.5%.
On Tuesday, December 10, the USDA will release its updated estimates for U.S. grain ending stocks. Market participants expect wheat stocks to be estimated at 257.7 million mt (up from 257.6 million mt in November) and corn stocks at 303.6 million mt (down from 304.4 million mt).
The Buenos Aires Grain Exchange forecasts rain in key agricultural regions of Argentina in the coming days. Rainfall intensity is expected to range from moderate to high.
Between December 1 and 4, Ukraine shipped 0.2 million mt of grain, down from 0.3 million mt both year-on-year and month-on-month, according to data from the Ministry of Agrarian Policy. Total shipments since the start of the season have reached 18.6 million mt, up from 13.4 million mt a year earlier.
Last week, average sunflower prices in the European part of Russia decreased by 550 rub to 40,625 rub/mt ($383/mt), according to SovEcon analysts. This marks the first price decline since the end of August. The sunflower market has turned down due to falling sunflower oil export prices and reduced demand from processors.
