Grains and oilseeds: frost risk in China

February 23, 2024 at 11:58 AM , Der AUDITOR
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BRUSSELS. Exporters in Ukraine fear that the Red Sea crisis will render wheat shipments to Indonesia more expensive. Opinions are divided over Argentina’s corn crop. China can afford to wait for soy, but frost may considerably damage the country’s rapeseed crop.

Red Sea Crisis spells trouble for Ukrainian wheat

After the depreciation of the US dollar prompted short coverings for wheat in the middle of the week the market has now turned again and is confronting high stocks. SovEcon reports that wheat quotations have declined to USD 218-224/mt FOB Black Sea in Russia as the country is anticipating a bumper crop. Russia’s exports should reach 35.6 million mt in February, which is 3.7 million mt up on last year, and are expected to range at 52.5 million mt at the end of the season. Buyers include Turkey, Egypt and Banglad

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