Andrey Sizov
09.09.2024
On Friday, US grain prices continued to decline, while European wheat remained stable. The December SRW wheat contract closed at $5.67/bu ($208/mt), down 1.3% from Thursday. The December HRW wheat contract in Kansas fell to $5.77/bu ($212/mt), down 1.9%. The December Euronext wheat contract closed at €218.75/mt ($243/mt), up 0.1%. The December U.S. corn contract dropped to $4.06/bu ($160/mt), down 1.1%.
According to Ukraine’s Ministry of Agrarian Policy, as of September 6, 2024/25 grain exports amounted to 7.5 mmt, with 0.5 mmt shipped in September. A year ago, exports totaled 4.9 mmt, including 0.3 mmt in September.
The FAO lowered its forecast for global grain production in 2024 by 2.8 mmt to 2,851 mmt, a figure close to last year’s levels. The revision is attributed to worsening prospects for coarse grain crops in the EU, Mexico, and Ukraine.
A regional state of emergency was declared in the Tomsk region due to the threat of crop losses caused by heavy rains, announced the region’s governor, Vladimir Mazur.
