Andrey Sizov
11.09.2024
On Tuesday, wheat prices rose. The December SRW wheat contract closed at $5.74/bu ($211/mt), up 1.0% from Monday. The December HRW wheat contract in Kansas increased to $5.84/bu ($215/mt), up 1.5%. The December Euronext wheat contract closed at €220.00/mt ($242/mt), up 0.9%. The December US corn contract fell to $4.04/bu ($159/mt), down 0.7%.
Soft wheat exports from the European Union since the start of the 2024/25 season through September 8 totaled 4.82 million tons, down 23% from a year ago, the European Commission reported. The Commission noted that data from France has been incomplete since the start of 2024, while data from Bulgaria and Ireland remains incomplete from the 2023/24 season.
A state of emergency was declared in the Novosibirsk region starting September 10 due to heavy rainfall, which is hindering the harvest, according to the regional government press office.
The Altai region is considering declaring a state of emergency due to prolonged rains. Previously, a state of emergency had been declared in the Omsk, Tomsk, and Novosibirsk regions.
As of September 10, Kazakhstan had harvested 6.9 million tons of grain from 4.7 million hectares with an average yield of 1.49 t/ha.
The yield of grain and oilseed crops in Ukraine is expected to suffer less from drought than previously feared, said the country’s Minister of Agriculture. The yield is projected to decline by 10-15% compared to 2023, whereas earlier forecasts expected a 15% reduction.
