Andrey Sizov
02.09.2024
On Friday, grain prices continued to rise. The December SRW wheat contract closed at $5.51/bu ($203/mt), up 0.5% from Thursday. The December HRW wheat contract in Kansas City increased to $5.65/bu ($208/mt), up 0.9%. The December Euronext wheat contract closed at €216.50/mt ($239/mt), up 0.3%. The December U.S. corn contract rose to $4.01/bu ($158/mt), up 1.3%.
Ukraine has begun its corn harvest. According to the Ministry of Agrarian Policy, as of August 29, 29.7 thousand tons have been harvested with an average yield of 4.5 tons per hectare.
India’s Meteorological Department forecasts that rainfall in September will again exceed the normal levels. Excessive rainfall could harm summer crops such as rice, cotton, soybeans, corn, and pulses, which are typically harvested from mid-September.
European traders report that Taiwan’s MFIG purchased about 65,000 tons of Brazilian-origin feed corn in a tender on Friday, with delivery scheduled for October-November.
