Andrey Sizov
06.09.2024
On Thursday, grain prices declined. The December SRW wheat contract closed at $5.75/bu ($211/mt), down 1.0% from Wednesday. The December HRW wheat contract in Kansas fell to $5.89/bu ($216/mt), down 0.7%. The December Euronext wheat contract closed at €218.50/mt ($243/mt), down 0.9%. The December U.S. corn contract dropped to $4.11/bu ($162/mt), down 0.5%.
The Buenos Aires Grain Exchange (BAGE) reported that corn planting for the 2024/25 crop has started in Argentina, with 1% of the area planted. The 2023/24 crop harvest is now complete, with 46.5 million tons harvested, 25.6% more than the previous year.
According to the Buenos Aires Grain Exchange, the condition of wheat crops in Argentina is improving due to recent rains. Nearly 50% of wheat crops now have optimal or sufficient moisture, up from 46% two weeks ago.
The French Association of Wheat Producers (AGPB) predicts a sharp decline in soft wheat yields this year, down to 6.2 mt/ha, 17% lower than last year. The total soft wheat production is estimated at 25.98 million tons, 26% less than last year.
