Behind the Corn Yield Shock, Russia Quietly Reroutes Wheat

The USDA corn yield estimate came in well above expectations, pulling corn, wheat and soybeans lower before importers stepped in to buy. Bertrand Oesterle, StoneX VP of Clearing & Execution Sales, explains how the WASDE report, Black Sea developments and biofuel policy moved grain markets. Algeria's milling wheat tender drew European supply and possibly Russian wheat from Baltic ports, where Russia routes more than half its wheat exports. The U.S. Environmental Protection Agency's small refinery exemption shift points to more soybean oil use, as China auctions soybean reserves to make room for imports. Discover Actionable Insights with StoneX Market Intelligence: https://shop.stonex.com/collections/all?utm_source=youtube&utm_medium=social&utm_campaign=sxtv_guest_bertrand_oesterle&utm_content=share --------- Like this video? Subscribe and turn on notifications so you don't miss any videos from StoneX: https://www.youtube.com/@stonex_official Visit https://www.stonex.com/en/insights/thought-leadership/?utm_source=youtube&utm_medium=social for insights, perspectives and thought leadership from StoneX's global network of experts. Visit our website: https://www.stonex.com?utm_source=youtube&utm_medium=social