Photo: Thinkstock

From Black Sea to US Midwest, extreme weather threatens crop output

Hot, dry weather forecast for Russia, Ukraine in coming months; relief seen for China's corn, soybean crops hit by heatwave

Forecast dryness in the Black Sea region's breadbasket is likely to stunt sunflower and corn yields, while heavy rain in the United States after near-record temperatures threaten to take a toll on crops, hitting world supplies and pushing prices higher.






Grain is loaded onto ships for export at a port on the Parana River near Rosario, Argentina on Jan. 31, 2017. (File photo: Reuters/Marcos Brindicci)

Bulk ocean freight rates fall from highs despite uncertainty

Container rates have climbed higher as Houthi attacks in the Red Sea have caused diversions

The Baltic Dry Index (BDI), a major indicator of bulk shipping rates, has dropped sharply over the past month after hitting 18-month highs in early December. Meanwhile, container rates have climbed higher over the same period as attacks by Houthi militants in the Red Sea have caused many shipping companies to divert their vessels.