SovEcon: Russian and global grain market news – May 22, 2024

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

On Tuesday, wheat prices continued to rise. The July SRW wheat contract closed at $6.97/bu ($256/mt; up 1.3% compared to Monday). The September Euronext wheat contract rose to €257.00/mt ($279/mt; up 0.2%). The July U.S. corn contract fell to $4.58/bu ($180/mt; down 0.5%).

The USDA reported that U.S. exporters sold 113,050 mt of corn to Mexico and 110,000 mt to Spain.

Jordan canceled its wheat tender for the third time on May 21. The country’s state grain buyer was planning to purchase 120,000 mt. The previous tenders on May 4 and May 7 were canceled due to high prices.

Tunisia will hold a tender on May 22 to purchase 100,000 mt of soft wheat.

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