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The EU Council adopted a regulation, effective July 1, 2024, placing tariffs of roughly €90 to €150 per tonne on grain, oilseeds and derived products such as sunflower and rapeseed meal from Russia and Belarus. Market players expect EU oilseed output to fall to about 18 million tonnes in 2024/25, and dry weather in Australia and frost damage in Ukraine add to supply concerns.
With Russian meal likely uneconomic to import after July 1, the EU must rely on domestic and other suppliers, which tightens sunflower and rapeseed meal availability and supports prices. Grain effects are expected to be smaller.
expanamarkets.comJake Mills-ZivanovicJun 19, 2024Not enough comparable past events yet for a historical read.
Not enough comparable past events yet for a historical read.
After 206 past neutral trade events, Wheat (SRW) moved a median +0.1% over 5 sessions (53% higher; middle half -1.3% to +1.6%), and +0.5% over 20.
Moves of each commodity's benchmark from the last close before the event. Historical reads pool past events of the same kind; they describe what happened, not what will. Not investment advice.
