Grains and oilseeds: heavy blows as weather turns icy

January 24, 2025 at 12:23 PM , Der AUDITOR
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BRUSSELS. Arctic winter conditions have impacted wheat. Rain has a two-sided impact on corn in Latin America. China has halted soybean shipments from Brazil. The Trump administration will deal a double blow to Canada’s canola industry.

Icy winter for wheat

Wheat futures have declined again after the sudden arctic cold outbreak in the US Midwest prompted a hike on Wednesday as temperatures dropped well below freezing with -22C (-8F) being reported at night. Concerns are also being voiced in Russia since a protective layer of snow is missing to protect the grains from frost. SovEcon has retained the wheat production estimate for Russia at 78.7 million mt, which is lower than last year’s 82.4 million mt. Monthly wheat exports will only amount to 2.4 million mt in January, which is a far cry fro

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