Grains and oilseeds: bad boy Russia

February 17, 2023 at 12:30 PM , Der AUDITOR
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BRUSSELS. Russia’s intensified attacks on Ukraine coupled with threats that the Black Sea grain corridor will not be extended after 18 March are giving rise to concerns and expectations that prices will rise for wheat, corn, rapeseed and soy.

Russia delays Ukrainian wheat exports

While low prices and high demand are driving Russian wheat exports, inspection delays deliberately caused by Russia are slowing down Ukrainian exports. SovEcon estimates that Russia exported 3 million mt of wheat last week alone and that total exports have climbed to 44.2 million mt this season. This is clearly up on the 33 million mt registered last year.

Ukraine has shipped 800,000 mt of wheat in February so far and 10.55 million mt this season, which is 29% down on last year, 3 million mt still remain to be shipped. F

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