17:33 - 12.12.2024

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December 12, Fineko/abc.az. World wheat stocks at the end of the year amounted to 257.88 million tons (3.6% less than in 2023/24), and is still a nine-year low, ABC.AZ reports, referring to the U.S. Department of Agriculture (USDA).

The December report of the U.S. Department of Agriculture on the assessment of global supply and demand, published on Tuesday evening, also showed favorable data on the supply of corn in Europe and the U.S. The growth leaders were corn prices in the U.S., which increased by 1.5%. Prices for wheat, rapeseed and soybeans have also increased.

Corn prices continued their recent recovery, rising to a two-month high after the U.S. Department of State sharply lowered its estimates of stocks in the U.S. and the world in 2025 and predicted higher corn exports, suggesting that the global grain supply may not be as large as initially thought.