Andrey Sizov
23.09.2024
On Friday, wheat futures were stable or rising. The December SRW wheat contract closed at $5.68/bu ($209/mt; +0.5% compared to Thursday). The December HRW wheat contract in Kansas City remained unchanged at $5.64/bu ($207/mt). The December Euronext wheat contract closed at €216.00/ton ($241/mt; +0.1%). The December U.S. corn contract fell to $4.02/bu ($158/mt; -1.3%).
A state of emergency was declared in the Altai region due to heavy rains that are hindering the harvest, reported Governor Viktor Tomenko.
On September 20, a ballistic missile strike targeted the port of Odesa. According to local authorities, the port and civilian infrastructure were damaged, as well as a civilian vessel flying the flag of Antigua.
The European Grain Association Corceal on September 20 lowered its forecast for European wheat production to 126.0 million tons from 134.5 million tons in June. The corn production forecast was reduced to 60.3 million tons from 64.8 million tons, and barley to 57.6 million tons from 59.9 million tons.
The water level in Argentina’s Paraná River dropped to its lowest since 2021, according to the Rosario Exchange. As a result, river shipments may decrease, as the loadable cargo mass has been reduced by 15% due to the lower river level.
Ukraine’s Ministry of Agrarian Policy on Friday lowered its winter wheat planting forecast to 4.48 million hectares from 4.69 million hectares.
