Grains

Grains and oilseeds: key players’ showdown

February 3, 2023 at 10:21 AM , Der AUDITOR
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BRUSSELS. EU wheat imports have nearly tripled to 4,968 million mt. Exports are also 7.7% up at 18.8 million mt. The war in Ukraine, however, continues to overshadow the entire grain market. China is also a key figure for corn. Developments in South America are crucial for soy and the showdown between Indonesia and the EU is impacting rapeseed.

Fear over decline in wheat exports

While increasing tensions in the war in Ukraine coupled with delayed Russian inspections in the Black Sea initially drove up the market at the start of the week, the situation changed as new figures emerged from Russia. According to SovEcon Russian producers still hold 22.1 million mt of wheat, which is 42% up on the five-year moving average. Australia’s crop is also adding pressure.

Developments in Ukraine are, however, fostering uncertainty. Trouble is that prices will certainly rise, if exports decline. Although th

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