SovEcon: Russian and global grain market news – September 16, 2024

Daily news and market insights from a leading firm focused on the Black Sea grain markets research

Grain prices rose on Friday. The December SRW wheat contract closed at $5.95/bu ($218/mt, +2.8% compared to Thursday). The December HRW wheat contract in Kansas increased to $6.00/bu ($220/mt, +2.4%). The December Euronext wheat contract closed at €225.00/mt ($249/mt, +1.0%). The December corn contract rose to $4.13/bu ($163/mt, +1.8%).

In the 2024/25 season, Ukraine exported 8.7 million mt of grain, compared to 5.9 million mt a year earlier, according to the Ministry of Agrarian Policy. Wheat exports totaled 4.8 million mt, corn 2.5 million mt, and barley 1.2 million mt.

As of September 13, Ukrainian farmers harvested 38.3 million mt of grain and oilseeds, according to the Ministry of Agrarian Policy. Wheat accounted for 21.9 million mt, corn for 1.1 million mt, and barley for 5.5 million mt.

A state of emergency was declared in two districts of Russia’s Rostov region due to wildfires, according to regional authorities.

On September 12, Ukraine reported using a strategic bomber to attack a grain vessel near Romania’s territorial waters.

On the evening of September 14, two ballistic missiles struck Odesa, damaging household facilities and transportation infrastructure.

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