Andrey Sizov
29.11.2024
On Thursday, U.S. grain markets were closed due to Thanksgiving. March Euronext wheat futures declined to €222.00/mt ($234/mt), down 0.2%.
As of November 25, French farmers had planted 93% of the soft wheat area, compared to 81% at the same time last year and 91% on average over five years, according to FranceAgriMer.
Egypt’s Mostakbal Misr agency issued a tender for wheat and vegetable oil but made no purchases, market participants reported.
Corn planting in Argentina has reached 41.3% completion, with 97% of the crop rated in good to excellent condition, according to the Buenos Aires Grain Exchange.
India plans to sell 2.5 million mt of wheat from government reserves to wholesale buyers in an effort to curb soaring grain prices, local officials reported.
The European Commission raised its EU corn production forecast to 59.6 million mt from 58.0 million mt last month, though the estimate remains 3% lower than last year. The wheat production forecast was lowered by 0.3 million mt to 112.3 million mt, 10% below last year’s output.
French dockworkers announced a series of strikes in December and January, which could disrupt grain export volumes.
Overnight on November 29, the Odesa region was attacked by drones, according to Oleg Kiper, head of the regional military administration. Residential buildings and railway infrastructure were damaged in the attack, he said.
In November, SovEcon reduced its forecast for Russian wheat exports by 1.8 million metric tons (MMT) to 44.1 MMT. The forecast was lowered due to expected tight export quotas.
