Grains

Grains and oilseeds: China seizes the day

March 8, 2024 at 7:29 AM , Der AUDITOR
Play report as audio

BRUSSELS. Panic has broken loose after China cancelled a large order for US wheat. Attractive prices have also prompted China to buy extraordinary volumes of corn in Ukraine. With farmers holding back Brazil will hardly be able to ship as much soy in March and the Red Sea crisis will prompt buyers in Europe to turn to Canda for canola.

Panic breaks loose over wheat

Panic broke loose after China cancelled an order over 130,000 mt of US wheat thereby prompting quotations to fall. Demand has, however, picked up again in the Maghreb countries and the Middle East. Egypt has announced a tender for delivery in May. Algeria’s Sate Food Procurement Agency (OAIS) purchased 870,000 mt of milling wheat on Wednesday for delivery in June at a price of USD 228/mt C&F, which is much cheaper than the USD 265.50/mt paid in the previous tender. Although Algeria normally buys wheat in France, imports from R

View related articles

Go to the News Overview
Oilseeds
Apr 11, 2024
OTTAWA/BRUSSELS. With the prospect of higher import tariffs for Russian flaxseed, European traders are worried about their business and fear massive price increases. Other growing countries such as India and Canada are coming into focus, but are not really an alternative for buyers at the moment.
Oilseeds
Apr 11, 2024
SOFIA/KYIV. It is comparatively warm and dry in Bulgaria during the sowing period. This year's crop will rely on favourable weather conditions in order to avoid a large yield deficit like last year.
Oilseeds
Apr 11, 2024
NEW DELHI. The result of the current tender will be published shortly. Indian exporters expect only small chances, but there will be slight price corrections. Alternative origins, many of them African growing countries, have also become more relevant for EU buyers.
Oilseeds
Apr 10, 2024
DALIAN. Looking at seed company sales, Chinese growers seem to be leaning much more towards growing shine skins than GWS kernels this year. Meanwhile, prices are continuing their downward trend.