Andrey Sizov
19.07.2024
On Thursday, U.S. grain futures declined. The September SRW wheat contract closed at $5.35/bush ($197/mt; -0.7% compared to Wednesday). The September Euronext wheat contract remained at €215.00/mt ($234/mt; unchanged). The September U.S. corn contract fell to $3.91/bush ($154/mt; -1.7%).
The International Grains Council (IGC) raised its global wheat production forecast by 8 mmt to 801 mmt. The revision reflects improved crop prospects in the U.S., Kazakhstan, and Ukraine. The corn crop forecast was increased by 2 mmt to 1,225 mmt.
In June, China imported 920 tmt of corn, according to the General Administration of Customs of China (GACC). This is the lowest volume since December 2022.
