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Wheat futures staged their biggest rally in six months after an alleged attack on the Kremlin heightened Russia-Ukraine tensions, stoking doubts over the renewal of the Black Sea grain export deal, warned CRM Agri.
The EU needs to safeguard market access to essential supplies of feed grains and vegetable protein meals to its feed and livestock sectors, said FEFAC referring to the move by Poland, Hungary, Slovakia, and Bulgaria to impose import restrictions on Ukrainian grain and oilseeds, and other foodstuffs.
The estimate for Argentine soybean production in 2022/2023 is now 23.9m metric tons (MMT), the lowest in 24 years, according to a USDA FAS outlook.
Grain markets have returned to prior levels following the late March rally after speculation about Russian export bans and the withdrawal of major trading companies from Russia, finds CRM Agri.
Global egg prices have reached record-high levels. What are the factors behind the historically high increases for the staple food product?