MarketsFarm — There were only a handful of major changes in the monthly supply and demand report released Friday by the U.S. Department of Agriculture (USDA). “I thought it was neutral to a little bit friendly,” said Terry Reilly, grains analyst with Futures International in Chicago. Perhaps most notable were the ending stocks for new-crop […] Read more
June USDA report includes few changes or surprises
U.S. corn, soybean carryout projections down from May's
Opinion: It’s not just oil prices — refining capacity is driving up fuel bills
Fat margins mean refineries have plenty of reasons to up production but they have limited capacity
Reading Time: 3 minutes Reuters – Global stocks of refined petroleum products have fallen to critically low levels as refineries prove unable to keep up with surging demand especially for the diesel-like fuels used in manufacturing and freight transportation. The result has been a surge in prices refiners receive for selling fuels compared with prices they pay for buying […] Read more
Nutrien to further boost potash output amid global shortage
Company will also speed up nitrogen capacity boosts
Reuters — Nutrien, the world’s largest fertilizer producer, said Thursday it will increase its Canadian potash production by 20 per cent to an annual 18 million tonnes by 2025, helping to address tight supplies that have contributed to a global food shortage. Potash prices have soared since the West imposed sanctions against Russia for Moscow’s […] Read more
CBOT weekly outlook: Soy prices rise, yields may follow suit
MarketsFarm — Soybeans were the high-rising crop on the Chicago Board of Trade (CBOT) for the week ended Wednesday, two days before the U.S. Department of Agriculture’s monthly world agriculture supply/demand estimates (WASDE) are released. Old- and new-crop soybeans all rose in tandem during the week, but while old-crop contracts are rising in price due […] Read more
Russian attack destroys warehouses of major Ukrainian port terminal, owner says
Kyiv | Reuters — Russian shelling destroyed the warehouses of one of Ukraine’s largest agricultural commodities terminals in the Black Sea port of Mykolaiv over the weekend, authorities and the facility’s owner said Tuesday. The attack came at a time Turkey is trying to develop a U.N.-backed plan to start grain exports from Ukraine’s ports, […] Read more
Ukraine not ready to export grain via Belarus, Zelenskiy says
Kyiv | Reuters — Ukraine is not ready to agree to a plan to export its grain by rail across Belarus for shipment via the Baltic Sea to bypass Russia’s blockade of its Black Sea ports, President Volodymyr Zelenskiy said on Monday. Zelenskiy told a news conference in the capital Kyiv that there could be […] Read more
Ukraine envoy says Turkey among destinations of grain stolen by Russia
Ankara | Reuters — Kyiv’s ambassador to Ankara said on Friday Turkish buyers were among those receiving grain that Russia stole from Ukraine, adding he has sought Turkey’s help to identify and capture individuals responsible for the shipments. Russia and Ukraine account for nearly a third of global wheat supplies, while Russia also heavily exports […] Read more
U.N. aid chief in Moscow to discuss Ukraine grain exports
Russia says will guarantee grain vessels' safety
Reuters — U.N. aid chief Martin Griffiths is in Moscow on Thursday and Friday to discuss clearing the way for exports of grain and other food from Ukraine’s Black Sea ports, a U.N. spokesperson said. Griffiths will meet Russian officials days after another senior U.N. official, Rebecca Grynspan, had “constructive” talks in Moscow with Russian […] Read more
U.N. had ‘constructive’ talks in Moscow on Russian grain, fertilizer exports
U.S. could offer 'comfort letters' to shippers, insurers
United Nations | Reuters — A senior U.N. official had “constructive discussions” in Moscow with Russian First Deputy Prime Minister Andrei Belousov on facilitating Russian grain and fertilizer exports to global markets, U.N. spokesman Stephane Dujarric said on Tuesday. The U.N. official, Rebecca Grynspan, is now in Washington for talks on the same issue “with […] Read more
U.S. grains: Wheat drops as Russia considers Ukrainian grain exports
Corn, soybeans also down
Chicago | Reuters — Chicago wheat futures fell on Tuesday, after Russian President Vladimir Putin expressed readiness to allow blocked Ukrainian grain vessels from Black Sea ports. Corn was pressured by falling wheat, while profit-taking pulled soybeans off life-of-contract highs to finish lower. The most-active wheat contract on the Chicago Board of Trade (CBOT) fell […] Read more
Cyber-Savvy Farmer
