Andrey Sizov
05.11.2024
On Monday, US grain prices rose. The December SRW wheat contract closed at $5.69/bu ($209/mt), up 0.1% from Friday. The December HRW wheat contract in Kansas rose to $5.71/bu ($210/mt), up 0.8%. The December Euronext wheat contract closed at €213.75/mt ($233/mt), down 1.5%. The December US corn contract rose to $4.16/bu ($164/mt), up 0.5%.
Egypt’s GASC purchased 290,000 mt of wheat in an international tender at $273-275 C&F. The suppliers were from Bulgaria, Romania, and Ukraine.
The USDA reported that exporters sold 150,000 mt of corn to Mexico and 120,000 mt to unknown destinations.
US wheat sales fell below market expectations. According to the USDA, for the week ending October 31, exporters shipped 194,000 mt of wheat against an estimated 200,000-350,000 mt.
U.S. winter wheat planting is 87% complete, compared to 86% by market expectations and 89% as the five-year average. The percentage of crops in good-to-excellent condition stands at 41%, matching market expectations and 9 percentage points below last year.
US corn harvest is 91% complete, compared to 90% expected by the market and 75% as the five-year average.
In October, Ukraine exported 4.0 million mt of grain, up from 2.4 million mt a year earlier, according to the State Customs Service. Since the start of the season, 14.4 million mt have been shipped from the country, compared to 9.2 million mt a year ago.
