Andrey Sizov
10.01.2025
On Thursday, U.S. markets operated on shortened hours to mourn the death of the 39th President, Jimmy Carter. March SRW wheat futures closed at $5.34 per bushel ($196/mt), down 0.4% from Wednesday. March HRW wheat futures in Kansas City remained unchanged at $5.56 per bushel ($204/mt). March Euronext wheat futures closed at €229.25 per metric ton ($236/mt), down 0.7%. March corn futures dropped to $4.56 per bushel ($180/mt), up 0.4%.
On January 10, the USDA will release the January revision of its WASDE report. According to market estimates, U.S. ending wheat stocks are expected at 21.6 million mt (+0.1 million mt from last month), and corn stocks at 44.1 million mt (-1.6 million mt). Global wheat stocks are forecast to remain at 257.9 million mt, while global corn stocks are projected to decrease by 1.6 million mt to 296.4 million mt.
The share of Argentine corn crops in poor condition rose to 9%, up from 4% the previous week and 5% a year earlier, according to the Buenos Aires Grain Exchange. Analysts attribute the deterioration to insufficient rainfall.
Rodnye Polya LLC (formerly TD RIF) has opposed the asset seizure imposed on the company in December 2024. The case to lift the seizure is scheduled for January 13, 2025. The Prosecutor General’s Office is seeking to invalidate the transaction involving the assignment of shares in the company’s authorized capital.
The Russian Federal Service for Veterinary and Phytosanitary Surveillance (Rosselkhoznadzor) announced that Kazakhstan lifted its ban on wheat imports from third countries and EAEU nations effective January 1, 2025.
