Grains

Grains and oilseeds: Ukraine stages incredible export recovery

February 9, 2024 at 11:01 AM , Der AUDITOR
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BRUSSELS. Ukraine’s exports have recovered to an incredible degree for wheat and corn. China’s soybean stocks have slumped by 19% and Tallage expects EU rapeseed production to decline in 2024/2025.

International demand for wheat declines sharply

Wheat has continued to slide on the back of sluggish international and sluggish European demand. Even Russia is struggling to sell prompting the quotations for 12.5% wheat to drop to USD 228/mt FOB Black Sea ports. As the Grain Union reports Russia’s exports stood at 405,600 mt on 05 February, which is 48% down on last year. Remaining export supplies range at 24.6 million mt. Egypt and Turkey have bought less, whereas shipments to Mexico are up. Algeria is increasingly turning to Russia rather than France.

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