Andrey Sizov
29.10.2024
On Monday, US grain prices continued to decline. The December SRW wheat contract closed at $5.59/bu ($205/mt), down 1.8% from Friday. The December HRW wheat contract in Kansas dropped to $5.61/bu ($206/mt), down 1.9%. The December wheat contract on Euronext closed at €217.00/mt ($235/mt), up 0.1%. The December U.S. corn contract fell to $4.11/bu ($162/mt), down 1.1%.
Egypt’s supply minister, Sherif Farouk, stated on Monday, that the direct purchase of 430,000 mt of wheat will be shipped in November.
As of October 27, 81% of the US corn crop had been harvested, compared to 68% last year and a five-year average of 64%, according to USDA data.
The share of US winter wheat crops rated as good or excellent was 38%, down from 47% last year and below the market expectation of 47%, reported the USDA.
As of October 28, Ukraine had exported 13.8 million mt of grain in the 2024/25 season, compared to 8.9 million mt a year earlier, according to Ukraine’s Ministry of Agrarian Policy. In October, 3.4 million mt were shipped, up from 2.2 million mt last year.
Tunisia’s Grain Agency (ODC) will hold a tender today to purchase 75,000 mt of durum wheat of optional origin, with shipment scheduled for November-December.
