Andrey Sizov
24.07.2024
On Tuesday, wheat futures slightly declined. The September SRW wheat contract closed at $5.43/bush ($199/mt; -1.0% compared to Monday). The September Euronext wheat contract rose to €225.00/mt ($244/mt; -0.3%). The September U.S. corn contract increased to $4.02/bush ($158/mt; +0.6%).
The USDA reported exporters sold 200 tmt of corn to unknown destinations.
Late July will bring cooler temperatures to most regions of European Russia, according to Roman Vilfand, chief scientist at the Russian Hydrometeorological Center. Significant cooling is expected in the Volga and Ural regions, where temperatures will drop 4-5°C below the norm.
Wheat production in Morocco is expected to decrease to 3.1 mmt from 5.5 mmt last year due to drought, the country’s Ministry of Agriculture reported.
