Andrey Sizov
12.11.2024
On Monday, US grain prices declined. The December SRW wheat contract closed at $5.65/bu ($208/mt), down 1.2% from Friday. Kansas’s December HRW wheat contract fell to $5.59/bu ($206/mt), down 0.9%. The December Euronext wheat contract closed at €216.25/mt ($230/mt), up 0.2%. The December U.S. corn contract dropped to $4.30/bu ($169/mt), down 0.2%.
On Monday, the US dollar index (DXY) jumped to 105.5, up 0.5% from Friday, marking its highest since early July.
According to the USDA forecast, the corn planting area in the 2025/26 season is expected to increase to 92 million acres (37.2 million ha) from 90.7 million acres (36.7 million ha) in the 2024/25 season. Wheat planting area is projected to decrease to 46 million acres (18.6 million ha) from 46.1 million acres (18.7 million ha).
Starting December 1, Ukraine will implement a system of minimum export prices for various agricultural products, including wheat, corn, and barley. Minimum prices will be calculated monthly by the Ministry of Agrarian Policy, and exports below these prices will be prohibited.
Bangladesh’s Directorate General of Food (DG Food) has announced an international tender to purchase 50,000 mt of milling wheat, according to European traders. The deadline for bid submissions is November 25.
As of November 11, Ukrainian farmers had planted 5.0 million ha of winter grains, reaching 96% of the projected area, up from 95% the previous week, according to the Ministry of Agrarian Policy of Ukraine.
