United States wheat prices have been in something of a quandary lately, with any hope of higher prices curtailed by the need to remain competitive with cheaper Russian wheat, according to Tom Lilja of Progressive Ag in Fargo, North Dakota.
CBOT weekly outlook: U.S. wheat remains rangebound
U.S. wheat prices essentially bottomed out during late November; recovered somewhat in December
Civilian cars and ancient farm machinery
Ukraine’s history of making do pays off in wartime as farmers support the war
Reading Time: 5 minutes Ukraine’s agriculture is diverse and so is the equipment on Ukrainian farms. Near my town, a German-made NEXAT transformer unit is working in the fields and is one of few in the world. It’s a massive all-in-one machine that handles every step in crop production: spring cultivation, seeding, crop protection and harvesting. While this is […] Read more
CBOT weekly: Mostly bullish influences on soy, corn, wheat
China increasing imports, Brazil in weather bind
MarketsFarm — While extreme weather differences in Brazil remained the main focus of the Chicago Board of Trade’s attention, increased imports by China were becoming another major factor, according to Terry Reilly, senior agricultural specialist for Marex in Chicago. “People are watching China’s increased demand for soybeans, wheat and potentially corn,” Reilly said, noting the […] Read more
Ukraine could fail to meet future wheat demand if attacks continue, UN agency warns
Report shows 31 attacks on grain facilities since mid-July
United Nations | Reuters — The United Nations World Food Programme (WFP) warned on Tuesday that Ukraine’s wheat production may be unable to meet domestic and export demand in the years to come if Black Sea export routes remain blocked and attacks on food infrastructure continue. WFP’s Ukraine director, Matthew Hollingworth, said a forthcoming report […] Read more
From Olds to the front lines of Ukraine
College instructor splits time between precision agriculture education in Canada and supporting troops in his home country
Reading Time: 3 minutes Yevgen Mykhaylichenko is trying to bring more autonomous systems to Canadian agriculture, and he’s using knowledge acquired abroad to do it. Splitting his time between academia and the Ukrainian front line, the Ukrainian professor and Olds College technology integration specialist works with a wide range of digital technologies and hardware. On frequent visits to Ukraine, […] Read more
Ukraine says 151 ships have used new Black Sea corridor
Promised free grain shipments are headed for Africa, says Moscow
Some 151 ships have used Ukraine's new Black Sea shipping corridor since it was set up in August, the Interfax-Ukraine news agency reported on Friday, citing a senior government official.
IGC raises world crop projections
If realized, the world wheat crop will the second largest on record
Projected worldwide wheat, corn and soybean production in 2023/24 was raised by the International Grains Council in its latest update, with better-than-expected corn yields in the United States and larger Black Sea wheat crops behind the adjustment.
Nutrien misses quarterly profit estimates as potash prices plummet
Fertilizer demand expected to rise in Q4
Reuters — Nutrien fell short of analysts’ estimates for third-quarter profit on Wednesday, as lower potash prices weighed on the world’s biggest fertilizer producer. Potash prices have been falling after shipments from Belarus and Russia resumed. These exports had been significantly restricted last year following Western sanctions imposed on Russia in response to its invasion […] Read more
IGC raises forecast for 2023-24 world wheat crop
U.S., Russian and Ukrainian production seen up, Australia down
Reading Time: < 1 minute The International Grains Council has raised its forecast for global wheat production in the 2023-24 season with upward revisions for Ukraine, Russia and the United States outweighing a deteriorating outlook for the crop in Australia. The inter-governmental body’s monthly update put the global wheat crop at 785 million tonnes, up from a previous forecast of […] 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
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
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