Grains and oilseeds: China to switch strategy

June 2, 2023 at 12:16 PM , Der AUDITOR
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BRUSSELS. Ukraine has accused the EU of hypocrisy after demands were voiced to extend the import restrictions in place for Ukrainian wheat, rapeseed and corn along with sunflower seeds in five EU member states. China may shift its purchasing policy for soybeans.

Excellent prospects for wheat

Prices have come under pressure as official EU production estimates for wheat have been lifted by 1.3 million mt to 131.5 million mt, which is 4.6% up on last year. Issue is that Spain, Italy and Hungary and the Balkan states will harvest larger crops. Although dry weather conditions are ideal for the crop in northern France, concerns are being voiced over possible tight water supplies. The outlook is bearish for wheat as production prospects are also encouraging in Russia, India and Canada. SovEcon, moreover, reckons that Russia still

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