Reading Time: 3 minutes Russian wheat offers at a recent import tender by Egypt were all made at the same price, highlighting what traders classify as behind-the-scenes intervention by Russia’s government that is sowing confusion about the world’s biggest wheat-exporting country. Here is a more detailed look at what is happening: Russian policy In March, sources told Reuters that […] Read more
Why are Russian export prices roiling the wheat market?
Dissecting the factors around Russia’s grain movement and its impact on global markets
EU ag commissioner pushes for extension of Ukraine grain import ban
Restrictions due to expire Friday
Brussels/Bucharest | Reuters — The EU agriculture commissioner said on Tuesday said he believes the European Commission should extend a temporary ban on Ukraine imports into five neighouring EU states, as the measure helped boost exports outside the bloc. Ukraine has become entirely dependent on alternative European Union routes, called Solidarity Lanes, for its grain […] Read more
Black Sea grain shipments shrink amid Ukraine deal doubts, Cargill exec says
'Grey/black' fleet seen handling more Russian traffic
London | Reuters — South American grain exports are set to overshadow Black Sea shipments this year as doubts grow over a U.N.-backed Ukraine deal and international traders cut commercial activities in Russia, a top executive with major commodities group Cargill said. The Black Sea grain deal, which allows the safe passage of grains through […] Read more
Viterra in talks to merge with Bunge, source says
Merger would vault Viterra into top tier of grain trade
Reuters — Global grain trader Viterra is in talks to merge with U.S. rival Bunge Ltd., according to a person familiar with the matter, in a potential mega-deal that would reshape the top tier of global grains merchants. There is no certainty that Viterra, part-owned by Switzerland-based mining and trading giant Glencore, will be able […] Read more
Canola, palm oil prices track closely
Reading Time: < 1 minute After diverging from palm oil last fall, canola oil is once again tracking close to its lower-priced cousin, says one provincial crops market analysts. “There are times like last fall when canola seed had relative price strength, but overall, the price correlation has been high during the past year,” Neil Blue said in a recent […] Read more
EU sets Ukraine grain import restrictions in five countries until June 5
Supports pledged for farmers in those countries
Brussels | Reuters — The European Commission said on Tuesday it set restrictions until June 5 on imports of Ukrainian wheat, maize, rapeseed and sunflower seed to ease the excess supply of these grains in Bulgaria, Hungary, Poland, Romania and Slovakia. The EU executive arm said that during that period, Ukrainian wheat, maize, rapeseed and […] Read more
Soy complex crushed by selloffs
While canola had undergone another week of sharp losses before bouncing back with a double-digit gain on March 23, the Chicago soy complex also had a week to forget. The May soybean contract fell to US$14.1950 per bushel at the end of March 23 after a one-day, 29-cent drop. It was the ninth negative session […] Read more
Canola industry ready to move forward
The Canola Council of Canada celebrated a return to normalcy at its annual meeting at the Canadian Crops Convention in Ottawa. “Our theme this year is ‘from adversity to opportunity’ and I think that’s very fitting,” said Jim Everson, the group’s president. Production has rebounded following the drought of 2021, meaning there’s opportunity to develop […] Read more
Canadian grain exporters could see advantage
Reading Time: < 1 minute Canadian grain exporters may get a boost from Washington’s “deteriorating relationship” with China, CoBank says in its 2023 outlook. A number of trade disputes as well as tensions over Taiwan are spilling into the grain sector, the lender said in its outlook. “China has made it clear that it would like to minimize its dependence […] Read more
Canadian wheat prospects good, says commodity agency
Reading Time: < 1 minute Canada’s rebound in wheat production in 2022 will “thrust the country into the position of a major global supplier in early 2023,” says market analysis agency S&P Global Commodity Insights. And demand for Canadian wheat is likely to rise further because of weather woes in Argentina and the U.S. Wheat sales to China are already […] Read more
Cyber-Savvy Farmer
