Grains and oilseeds: estimates prompt scepticism

April 5, 2024 at 12:20 PM , Der AUDITOR
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BRUSSELS. Ukrainian wheat will not be subjected to import restrictions in the EU and US traders are sceptical about recent estimates for corn. Uncertainty prevails over Brazil’s soybean crop and the EU will need to import more rapeseed from Ukraine and Australia.

EU import restrictions do not apply for wheat

US wheat is profiting from a weaker US dollar and rising export prices in Russia. Although SovEcon estimates that stocks range at 5.6 million mt in southern Russia, which is 12% up in last year, the lack of rain in this part of the country has driven up quotations. Abundant rain and low temperatures are, by contrast, creating problems in northwestern Europe. Floods may very well occur in France and in the UK. Traders expect UK imports to rise to 2 million mt in the current financial year.

Brussel’s demand f

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