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USDA's May report raised its 2023/24 world sunflowerseed production forecast to about 54.3 million tonnes, with gains in Ukraine, the EU and Russia. It also cut Ukraine's export forecast only slightly for 2022/23, and the EU ban on Ukrainian supply to five countries has curbed exports.
Larger sunflower output points to more meal and oil supply later in the year, which is mildly bearish for sunflower meal prices.
ukragroconsult.comMay 16, 2023Not enough comparable past events yet for a historical read.
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.
