Global: Eyes on oilseeds, Ukraine as Trump inauguration nears

As Donald Trump’s second term as US President nears, and the war in Ukraine drags on, analysts focused on global grain markets are wrapping their head around how 2025 might look. Speaking with Grain Central last week, RaboResearch general manager Australia and New Zealand Stefan Vogel said the oilseeds complex presents a mixed bag depending on where US-China and Canada-China relations go on soybeans and canola respectively. For grain, the possibility that Ukraine may lose ready access to key ports including Odessa under a Russian occupation is the one to watch. As Trump talks trade with US counterparties ahead of his inauguration in January, Mr Vogel said any impact on Australian markets will be secondary. “Clearly for grains and oilseeds, it doesn’t mean anything directly for us given that we’re not shipping a lot of grains or oilseeds into that market, but we’re serving some of those that the US is also exporting to like China, like South-east Asia. “Right now, it seems like the ...