Grains and oilseeds: frustration over low yields

February 16, 2024 at 10:45 AM , Der AUDITOR
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BRUSSELS. Russia has dragged down US and EU wheat quotations. Limited optimism prevails for corn in Argentina. Soybean yields are frustratingly low in Brazil and rapeseed is only marginally affected by the blockages at the Polish-Ukrainian border.

Russia drags down US and EU wheat quotations

SovEcon has revised the 2024 wheat production estimates for Russia upwards to 93.6 million mt. Last year’s production ranged at 92.8 million mt. Russia’s rising export surplus supplies are also adding pressure. Rumours over a potential rise in the export quota for 01 February through to 01 July by a further 4 million mt to 28 million mt, in addition, indicate a possible massive selloff of Russia’s warehouse supplies before the arrival of the new crop. Quotations for Russian export wheat declined sharply

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