Andrey Sizov
18.06.2024
On Monday, U.S. grain futures continued to decline. The July SRW wheat contract closed at $5.91/bu ($217/mt; -3.5% compared to Friday). The September Euronext wheat contract dropped to €230.25/mt ($247/mt; -2.7%). The July U.S. corn contract closed at $4.44/bu ($175/mt; -1.4%).
The share of U.S. spring wheat in good to excellent condition increased by 4 percentage points from last week to 76%, according to the USDA. Corn conditions worsened by 2 percentage points to 72%.
The second corn crop harvest in Brazil is progressing at the fastest pace in the last 10 years, reports AgRural. As of last Thursday, 21% of the crop had been harvested, compared to 5% a year earlier.
Ukrainian grain exports have slowed. From June 1 to June 17, Ukraine exported 2.0 MMT of grain, compared to 2.2 MMT during the same period in 2023 and 2.9 MMT the previous month. Since the beginning of the season, 48.9 MMT of grain has been exported, compared to 47.5 MMT a year earlier.
