SovEcon: Russian and global grain market news – June 18, 2024

Daily news and market insights from a leading firm focused on the Black Sea grain markets research

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.

More Articles for You

SovEcon: Russian and global grain market news – July 19, 2024

Daily news and market insights from a leading firm focused on the Black Sea grain markets research

SovEcon: Russian and global grain market news – July 18, 2024

Daily news and market insights from a leading firm focused on the Black Sea grain markets research

SovEcon: Russian and global grain market news – July 17, 2024

Daily news and market insights from a leading firm focused on the Black Sea grain markets research

July Wheat Exports to Drop Below Average

Wheat exports are anticipated to fall below average at the start of the new season amid declining exporter margins.

SovEcon: Russian and global grain market news – July 16, 2024

Daily news and market insights from a leading firm focused on the Black Sea grain markets research

SovEcon: Russian and global grain market news – July 15, 2024

Daily news and market insights from a leading firm focused on the Black Sea grain markets research