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Grains and oilseeds: Trump is bad news for US and EU trade

November 8, 2024 at 12:06 PM , Der AUDITOR
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BRUSSELS. Donald Trump’s imminent return to office as the 47th US president is sending shockwaves through the markets for grains and oilseeds. His proposed tariffs do not only spell bad news for US corn and US soybeans but also for EU rapeseed. Ukraine, Romania and Bulgaria are offering more competitive prices for wheat than Russia.

Ukraine more competitive for wheat than Russia

Wheat is trading lower this week as export prices are down. Egypt’s GASC authority purchased 290,000 mt of soft wheat, of which Ukraine and Romania jointly supplied 240,000 mt in equal measures and Bulgaria 50,000 mt. Prices stood at USD 247,56/mt FOB and at USD 274.83/mt C&F, which is USD 9.00/mt up on August. At USD 265/mt quotations were too expensive in Russia. Despite buying 3.12 million mt from Russia by direct contract in September, Egypt has postponed shipments due to high prices. Algeria previously or

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