Andrey Sizov
23.10.2024
On Tuesday, U.S. grain futures rose. The December SRW wheat contract closed at $5.76/bu ($212/mt; +0.7% compared to Monday). The December HRW wheat contract in Kansas rose to $5.86/bu ($215/mt; +0.7%). The December Euronext wheat contract closed at €223.50/mt ($248/mt; -0.3%). The December U.S. corn contract increased to $4.16/bu ($164/mt; +1.7%).
The USDA reported corn sales of 360,000 mt to Mexico.
As of October 21, Ukrainian farmers had planted winter grains on 4.3 million hectares, or 83% of the projected area, compared to 3.8 million hectares, or 75%, a year earlier.
EU soft wheat exports from July 1 to October 20 totaled 7.0 million mt, compared to 10.2 million mt the previous year, according to data from the European Commission. The commission noted that grain export figures from France and Italy for 2024 are incomplete.
Tunisia purchased 125,000 mt of wheat at a price of $263-264/mt (C&F), according to traders.
SovEcon has released its first forecast for the 2025 Russian wheat crop, estimating production at 80.1 million metric tons (MMT), down from 81.5 MMT the previous year and below the average of 88.1 MMT. Wheat crop could decline to the lowest level in four years amid adverse weather in major winter wheat growing regions.
