Reading Time: 2 minutes Russia will return to the Black Sea grain deal ‘the same day’ as Moscow’s conditions for export of its own grain and fertilizers to the global markets are met, Foreign Minister Sergei Lavrov told reporters September 11. Russia quit the deal in July, a year after it was brokered by the United Nations and Turkey, […] Read more
Russia says conditions key to grain deal
Foreign Minister Sergei Lavrov says action needed before his country will move
Russia’s leverage on grain to decline, senior U.S. official says
Attacks on ships may hurt pricing
New York | Reuters — Russia’s leverage over Ukraine’s export of grain via the Black Sea will likely erode in weeks to come as more ships are able to leave Ukrainian ports and rising costs could prompt Moscow to reconsider its abandonment of the grain deal, a senior U.S. State Department official said. James O’Brien, […] Read more
Cargill agrees to sell stake in Russian grain terminal
Buyer says deal under government review
Reuters — U.S.-based commodities trader Cargill said on Thursday it had agreed to sell its stake in a Russian grain terminal to Russia’s Delo Group. “In line with Cargill’s earlier announcement to stop the export of Russian grain in July 2023, we can confirm we have reached an agreement with Delo to sell our 25 […] Read more
Russian Agricultural Bank could have SWIFT access within 30 days, U.N. tells Moscow
Russia seeking 'actual exemptions' from sanctions
Reuters — A Russian Agricultural Bank subsidiary in Luxembourg could immediately apply to SWIFT to “effectively enable access” for the bank to the international payments system within 30 days, the United Nations told Russia in a letter, seen by Reuters on Friday. “SWIFT has confirmed that RSHB Capital S.A. would be eligible to apply for […] Read more
U.S. grains: Soy futures stumble as trade awaits harvest, crop data
U.S. corn harvesting starts early in some areas
Chicago | Reuters — U.S. soybean futures fell on Thursday as grain traders waited for farmers to harvest their fields and the government to release updated crop estimates next week. Most-active soybean futures ended down 16-3/4 cents at $13.59-1/2 a bushel at the Chicago Board of Trade (all figures US$). CBOT wheat futures declined 9-1/4 […] Read more
UN working on guarantees for Russia to restore grain deal, Moscow skeptical
Bombing of Ukraine ports, grain facilities erodes other partners' goodwill, Guterres says
Reuters — The United Nations is “actively engaged” in trying to improve Russia’s grain and fertilizer exports in a bid to convince Moscow to again allow the safe Black Sea export of Ukraine grain, Secretary-General Antonio Guterres said Thursday. “We believe that it’s necessary to create a system of mutual guarantee,” Guterres told reporters on […] Read more
Turkey’s Erdogan says Black Sea grain deal can be restored soon
UN seeks to bring Russia back into deal
Moscow | Reuters — Turkish President Tayyip Erdogan said after talks with Russia’s Vladimir Putin on Monday that it would soon be possible to revive the grain deal that the United Nations says helped to ease a food crisis by getting Ukrainian grain to market. Russia quit the deal in July — a year after […] Read more
Putin to meet Erdogan amid push to revive grain deal
Turkey, UN seek to revive grain deal; Russia discussing separate plan
Moscow | Reuters — Russian President Vladimir Putin will hold talks with Turkey’s Tayyip Erdogan on Monday in the Black Sea resort of Sochi as Ankara and the United Nations seek to revive a Ukraine grain export deal that helped ease a global food crisis. Russia quit the deal in July — a year after […] Read more
U.S. grains: Wheat dips after earlier strength
Black Sea supplies weigh on market
Chicago | Reuters — U.S. wheat prices reversed earlier gains to close lower on Friday, as markets weighed tight global stocks against the prospect of hefty Russian wheat production and efforts to renew a Black Sea grain deal. Chicago soybeans and corn also climbed after month-end positioning pushed futures lower much of the week and […] Read more
Opinion: War is expensive both on and off the battlefield
Big financial costs, big human costs, but also big agribusiness profits
Reading Time: 2 minutes Union general William T. Sherman once famously said, “War is hell.” However you describe it, war is expensive. For some, it’s extremely profitable, too. Shooting wars aren’t the only type of warfare that are costly, deadly and often without a winner. In January 2022, the International Monetary Fund estimated the total cost of the COVID-19 […] Read more
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