Andrey Sizov
09.10.2024
On Tuesday, wheat futures rose. The December SRW wheat contract closed at $5.95/bu ($218/mt), up 0.4% from Monday. The December HRW wheat contract in Kansas increased to $6.04/bu ($222/mt), up 0.1%. The December Euronext wheat contract closed at €229.75/mt ($255/mt), up 0.5%. The December U.S. corn contract fell to $4.22/bu ($166/mt), down 1.0%.
From October 1 to October 9, Ukraine exported 0.9 million mt of grain, compared to 0.5 million mt in the previous month and 0.5 million mt last year. Total exports since the start of the season reached 11.4 million mt, up from 7.2 million mt a year earlier.
As of October 7, Ukraine had planted 2.9 million hectares of winter crops, or 55% of the projected area. On the same date last year, 2.5 million hectares had been planted.
According to FranceAgriMer, as of September 30, 2% of the 2024/25 corn crop had been harvested, compared to 23% last year and 26% on average. The share of crops in good to excellent condition stands at 79%, unchanged from last year but below the 83% average.
As of October 8, Russia had harvested 120 million mt of grain, including 85 million mt of wheat, Minister of Agriculture Oksana Lut said during a meeting with senators on Tuesday.
Algeria’s state grain agency OAIC purchased 510,000-570,000 mt of wheat in an international tender at a price of $262.50/mt (C&F), European traders reported.
