Trilateral Bakery Update 6-17-2019

Wheat

  • Heavy rains forecast over the next week add further threat to quality issues
  • Very tight soft red balance sheet
  • Russian exports are now projected at 37.0 mmt and Ukraine exports are projected at a record 19.5 mmt.

Oils

  • Global vegetable oil usage ratio is expected to decline to below 10 percent in 2019/20, the lowest since the mid-1990’s
  • Malaysian palm oil stockpiles fall to a 10-month low

 

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