Andrey Sizov
10.09.2024
On Monday, grain prices were mostly flat. The December SRW wheat contract closed at $5.68/bu ($209/mt), up 0.2% from Friday. The December HRW wheat contract in Kansas closed at $5.76/bu ($211/mt), down 0.3%. The December Euronext wheat contract closed at €218.00/mt ($241/mt), down 0.3%. The December US corn contract closed at $4.07/bu ($160/mt), up 0.2%.
The USDA reported that corn harvesting has started in the country. As of September 8, 5% of fields were harvested, compared to 4% a year ago and 3% on average over the last five years.
According to the USDA, 64% of US corn crops are rated in good or excellent condition, down from 65% the previous week but up from 52% a year ago.
Consulting firm AgRural reported that as of September 5, 15% of the first corn crop in Brazil for the 2024/25 season had been planted, compared to 8% the previous week and 17% last year. The first corn crop typically accounts for about 20% of total production.
The Novosibirsk region is planning to declare a regional state of emergency, according to the local Minister of Agriculture, Andrey Shindelov. Currently, 12 districts have declared a state of emergency, while 8 districts are in a state of high alert.
As of September 9, Ukraine has exported 7.6 mmt of grain in the 2024/25 season, compared to 5.1 mmt a year ago, according to the Ministry of Agrarian Policy. In September, 0.6 mmt have been shipped, up from 0.5 mmt last year.
