Andrey Sizov
07.11.2024
On Wednesday, U.S. wheat prices were stable or declined. The December SRW wheat contract closed at $5.73/bu ($211/mt), up 0.1% from Tuesday. The December HRW wheat contract in Kansas fell to $5.74/bu ($211/mt), down 0.5%. The December Euronext wheat contract closed at €216.00/mt ($240/mt), up 1.2%. The December U.S. corn contract jumped to $4.26/bu ($168/mt), up 1.9%.
According to preliminary voting results, Donald Trump is set to become the 47th president of the United States.
Heavy rainfall is expected next week in agricultural regions in northern Argentina, reports the Buenos Aires Grain Exchange. According to exchange analysts, the rains will help alleviate soil moisture deficits in the country.
As of October 1, total Russian wheat stocks (on-farm and off-farm, excluding small companies) amounted to 38.7 million metric tons (MMT), down 14% year-over-year (YoY), SovEcon said in a report. Last quarter, stocks were at 20.3 MMT, up 21% YoY. Wheat stocks have sharply declined compared to last quarter due to low production figures of Russian wheat and active exports.
