Andrey Sizov
22.10.2024
On Monday, grain futures were mixed. The December SRW wheat contract closed at $5.72/bu ($210/mt; -0.1% compared to Friday). The December HRW wheat contract in Kansas rose to $5.82/bu ($214/mt; +0.3%). The December Euronext wheat contract closed at €224.25/mt ($245/mt; -1.0%). The December US corn contract increased to $4.09/bu ($161/mt; +1.2%).
According to USDA data, 65% of the US corn crop had been harvested as of October 20, compared to 55% last year and 63% based on market expectations.
The USDA reported that winter wheat planting in the US was 73% complete, compared to 74% last year and 77% based on market expectations.
The USDA announced corn sales of 170,000 mt to Mexico, 130,000 mt to South Korea, and 198,000 mt to unknown destinations.
According to USDA data, US wheat shipments totaled 268,000 mt for the week ending October 17, below the market estimate of 350,000-650,000 mt.
As of October 21, Ukraine had exported 13.0 million mt of grain in the 2024/25 season, compared to 8.3 million mt the previous year, according to the Ministry of Agrarian Policy. Wheat exports amounted to 7.2 million mt, corn to 3.8 million mt, and barley to 1.7 million mt.
Tunisia’s state grain agency announced an international tender to purchase 125,000 mt of soft milling wheat of any origin, European traders reported. Shipment is expected between November 10 and December 25, with bids due by October 22.
