Andrey Sizov
13.11.2024
On Tuesday, grain prices declined. The December SRW wheat contract closed at $5.52/bu ($203/mt), down 2.3% from Monday. The December HRW wheat contract in Kansas dropped to $5.46/bu ($201/mt), down 2.3%. The December Euronext wheat contract closed at €214.25/mt ($237/mt), down 0.9%. The December U.S. corn contract fell to $4.28/bu ($169/mt), down 0.4%.
As of November 10, 95% of U.S. corn fields had been harvested, compared to 86% at the same time last year and the five-year average of 84%, according to the USDA.
Winter wheat planting in the U.S. is 91% complete, compared to 92% last year and the average market estimate of 93%, USDA data shows. The condition of 44% of winter wheat crops is rated as good to excellent, up from 41% last week but down from 47% a year ago.
The USDA reported that exporters sold 111,000 mt of corn to Mexico.
As of November 10, soft wheat exports from the European Union totaled 8.3 million mt, down from 12.0 million mt a year earlier, according to the European Commission. Analysts warn that export figures for grains from France and Italy are incomplete for 2024.
SovEcon is hosting a webinar on Black Sea grain market in 2024/25. Join us next Thursday, November 21; 10:30AM US Eastern / 4:30PM Central European / 6:30PM Moscow. Check out our website to find out more
