Grains and oilseeds: market turns in favour of Southern Hemisphere

September 8, 2023 at 11:55 AM , Der AUDITOR
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BRUSSELS. Russia is flooding the markets with wheat. Brazil will take the lead from the USA in exporting corn in 2023/2024 and Argentina’s soybean production will finally bounce back this year. Tallage has slashed the EU production estimates for rapeseed.

Russia floods market with wheat

ABARES, the Australian Bureau of Agricultural and Resource Economics and Sciences, has downgraded its production estimate for wheat to 25.4 million mt. This is 200,000 mt less than in the June estimate and 36% down on last year. Drought will also reduce production in Argentina this year again. Low monsoon rain and excessive heat should, in addition, prompt India to import around 9 million mt of wheat. Contrary to this, Brazil’s crop is highly promising and Russia succeeded in exporting 11 million mt of wheat in July and August a

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