Andrey Sizov
25.07.2024
On Wednesday, U.S. grain futures slightly increased. The September SRW wheat contract closed at $5.47/bush ($201/mt; +0.8% compared to Tuesday). The September Euronext wheat contract fell to €222.50/mt ($241/mt; -1.1%). The September U.S. corn contract rose to $4.04/bush ($159/mt; +0.3%).
As of July 24, Ukraine exported 2.8 mmt of grain compared to 1.7 mmt on the same date last year, according to the country’s Ministry of Agrarian Policy. Wheat exports totaled 0.9 mmt, up from 0.6 mmt, and corn exports reached 1.4 mmt, up from 0.9 mmt.
On the night of Tuesday to Wednesday, the Ukrainian port of Izmail on the Danube River was attacked by drones, local authorities reported. Several buildings and vehicles were damaged in the attack.
SovEcon has raised its grain production forecast for July by 3.1 million metric tons (MMT) to 130.5 MMT. The estimate was revised due to improved prospects for winter and spring crops.
