Andrey Sizov
28.10.2024
On Friday, grain prices declined. The December SRW wheat contract closed at $5.69/bu ($209/mt), down 2.1% from Thursday. The December HRW wheat contract in Kansas dropped to $5.72/bu ($210/mt), down 2.6%. The December wheat contract on Euronext closed at €216.75/mt ($240/mt), down 2.1%. The December U.S. corn contract fell to $4.15/bu ($164/mt), down 1.5%.
A major shipment of Russian wheat to Egypt scheduled for October isn’t progressing, Bloomberg reported, citing sources familiar with the matter. According to the sources, vessels for transportation have yet to be selected, and the necessary paperwork is not yet in place.
The Rosario Exchange estimated Argentina’s wheat exports for the 2024/25 season at 13.3 million mt, which could be the second-largest volume on record.
Turkstat estimated Turkey’s wheat production in 2024 at 20.8 million mt, down 5.5% from the previous year. Barley production is forecast at 8.2 million mt, 10.9% lower than a year earlier.
On Friday, the USDA reported that exporters sold 136,000 mt of corn to Mexico.
