Andrey Sizov
06.11.2024
On Tuesday, U.S. grain prices rose. The December SRW wheat contract closed at $5.72/bu ($210/mt), up 0.7% from Monday. The December HRW wheat contract in Kansas rose to $5.77/bu ($212/mt), up 1.0%. The December Euronext wheat contract closed at €213.75/mt ($237/mt), down 0.1%. The December U.S. corn contract increased to $4.18/bu ($165/mt), up 0.5%.
The USDA reported that exporters sold 124,000 mt of corn to unknown destinations.
On Friday, November 8, the USDA will release the WASDE report. Analysts expect U.S. and global ending grain stocks to remain stable or decrease slightly. According to the average market estimate, U.S. wheat stocks are projected at 22.1 million mt (unchanged from October), and corn stocks at 49.4 million mt (down 1.4 million mt). Global wheat stocks are estimated at 256.8 million mt (down 0.9 million mt), and corn stocks at 305.7 million mt (down 0.8 million mt).
As of November 4, Ukrainian farmers had planted 4.9 million hectares of winter grains out of the planned 5.2 million hectares, according to the Ministry of Agrarian Policy. Winter wheat was planted on 4.3 million hectares out of 4.5 million hectares, and barley on 0.5 million hectares out of 0.6 million hectares.
