How are grain prices moving in futures globally?

Published 2024년 2월 2일

Tridge summary

The wheat futures market for March 2024 has seen a decrease in quotations by EUR 6.00/ton, with the average price at EUR 217.38/ton. Corn futures for the same period average at EUR 190.19/ton. Rapeseed futures prices for February, May, and August 2024 are also provided. Ukraine is projected to export 36-40 million tons of agricultural products by the end of 2023/24, while China's corn shipment in 2023 increased by 31.6% from 2022. Algeria purchased 900,000 tons of milling wheat at an average price of $265.5/ton. India's wheat stocks have fallen to their lowest since 2017, while the European Commission's new balance sheets show an increase in wheat stocks. Turkey has decided to reduce the import duty on sunflower and sunflower oil.

Disclaimer:The above summary was generated by Tridge's proprietary AI model for informational purposes.

Original content

On the wheat futures market for delivery in March 2024, quotations fell by EUR 6.00/ton, from EUR 220.75/ton at the beginning of the month to EUR 214.75/ton at the end. Read more: Farmers will not leave fields fallow in 2024 either The average futures price for the month of March is EUR 217.38/ton, the Ministry of Agriculture and Food stated in its monthly overview of the international grain and oilseed markets. In the European futures market for delivery in March 2024, corn started at €196.00/ton. At the end of the considered period, it reached 186.75 euros/ton, and the quotations decreased by 9.25 points. The average futures price for the month of March is EUR 190.19/ton. For rapeseed, the average futures price for February is 428.13 euros/ton, for May – 427.81 euros/ton, and for August – 425.56 euros/ton. By the end of 2023/24, it is expected that 36-40 million tons of agricultural products will be exported from Ukraine. Since the beginning of January, 2 million tons of grain ...

Source: Agri