Andrey Sizov
07.10.2024
On Friday, grain futures declined. The December SRW wheat contract closed at $5.90/bushel ($217/ton), down 2.3% from Thursday. The December HRW wheat contract in Kansas fell to $5.98/bushel ($220/ton), down 2.2%. The December Euronext wheat contract closed at €228.75/ton ($254/ton), down 1.5%. The December U.S. corn contract dropped to $4.25/bushel ($167/ton), down 0.8%.
The USDA reported that exporters sold 198,000 tons of corn to unknown destinations.
In September, the FAO Cereal Price Index reached 113.5 points (+3% from the previous month; -10.2% from the previous year). UN analysts attribute the price increase to concerns about unfavorable weather conditions in key exporting countries.
From October 1 to 4, Ukraine exported 592,000 tons of grain, compared to 212,000 tons in the previous month and 153,000 tons in the prior year, according to the country’s Ministry of Agrarian Policy. A total of 11.0 million tons have been shipped since the beginning of the season, compared to 6.8 million tons in the previous year.
