Global: What are grain prices according to futures contracts?

Published 2024년 9월 9일

Tridge summary

The article provides an overview of the current situation in the European wheat, corn, and rapeseed futures markets, highlighting decreases in quotations for September 2024 wheat and November 2024 corn. It also mentions new developments like the EU's temporary 36.4% import duty on biodiesel from China and forecasts for grain production and exports in various countries, including Russia, India, the EU, and Brazil. The article also touches on export restrictions and compensation plans for drought-stricken crops in Turkey and Romania, respectively.

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 September 2024, quotations decreased by 11.25 euros/ton - from 217.00 euros/ton at the beginning of the month to 205.75 euros/ton at the end. Read more: Forecast: Bulgaria to produce its smallest maize crop in more than a decade The average futures price for September is EUR 205.63/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 November, corn started with a price of 203.75 euros/ton. At the end of the considered period, it reached 199.25 euros/ton, and the reduction in quotations was by 4.50 points. The average futures price for November is EUR 197.44/ton. For rapeseed, the average futures price for November is 460.75 euros/ton, for February 2025 – 462.44 euros/ton, and for the month of May 2025 – 463.31 euros/ton. On August 16, 2024, the EU introduced a temporary import duty of 36.4% on biodiesel and certain varieties ...

Source: Agri