Grains and oilseeds: large volumes reclassified

December 6, 2024 at 11:42 AM , Der AUDITOR
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BRUSSELS. Although the prospects for Australia’s wheat crop are highly encouraging, large volumes have been downgraded as feed wheat. Trump’s proposed tariffs have stirred a high degree of irritation for corn. Prospects for Brazil’s bumper soybean crop have improved. Palm oil is a price driver for rapeseed and canola.

Large volumes of milling wheat reclassified as feed grade

ABARES has raised the forecast for Australia’s 2024/2025 wheat crop by 100,000 mt to 31.9 million mt, which marks a 23% rise on 2023/2024. Downside, however, is that heavy rains have impacted the quality as Reuters reports. Analysts state that 2.5-5.0 million mt of milling wheat, which corresponds to 8-16% of the entire crop, have been reclassified as feed wheat. Ukraine only exported 200,000 mt of grains between 1 and 4 December, which is more than 300,000 mt less than last year. The depreciation of th

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