Grains

Grains and oilseeds: USDA refuses to comply with expectations

June 14, 2024 at 11:20 AM , Der AUDITOR
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BRUSSELS. Few surprises were in store for wheat in the recent WASDE report. With regards to corn and soybeans the report, however, failed to comply with expectations. Production will range lower for rapeseed.

Frost damages slash Russia’s wheat output

Few surprises were in store for the market in the new WASDE report with the USDA cutting the estimate for global production from 798 million mt to 791 million mt. Sharp declines were witnessed in the revised estimate for Russia, which now ranges 5 million mt lower at 83 million mt, for Ukraine, which is 1 million mt lower at 19 million mt, and for the EU where estimates range 1 million mt lower at 130 million mt. Expectation is also that Russia’s wheat exports will decline by 4 million mt to 48 million mt and Ukr

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