Grains and oilseeds: Trump sparks nervousness

November 29, 2024 at 11:28 AM , Der AUDITOR
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BRUSSELS. Harvesting is underway for wheat in Argentina and in Australia. Ethanol is providing support for US corn. Soy traders are nervous over Donald Trump’s proposed policies. His tariff’s will also have a big impact on Canadian canola.

Wheat under pressure

Wheat is trading lower with pressure mounting in the Black Sea to export and harvesting underway in Argentina and in Australia. In West Australia the crop will exceed expectations. According to ABARES production will range 20% higher than last year at 31.8 million mt in 2024/2025. Russia’s wheat exports have slowed due to low demand. Sales only stood at 2.1 million mt as of 26 November as compared with 3.5 million mt in October. SovEcon reckons that Russia will impose export restrictions form mid-February until June. Issue is that the smal

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