Grains and oilseeds: Russia to profit from illegal seizures

February 2, 2024 at 12:19 PM , Der AUDITOR
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BRUSSELS. Russia’s wheat industry is set to profit from illegal land seizures in Ukraine. Improved weather conditions have turned the table for corn. Sluggish demand in China has highly embarrassing consequences for US soybeans. Canada’s canola production may fall short of expectations.

Russia wheat to profit from seized land in Ukraine

Sluggish demand, a sharp upturn in shipments from Ukraine and the pressure to sell in the Black Sea Region are weighing on the wheat market. Russia’s exports dipped to 3.7 million mt in January as opposed to the 4.3 million mt exported in January 2023. At 21.8 million mt stocks range a bit lower here than last year’s 22.1 million mt. Seizures from occupied regions in Ukraine should drive up Russia’s area sown with grains by 300,000 ha and boost supplies. In 2023 the country’s grain production

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