Reuters — The European Union is considering a proposal for the Russian Agricultural Bank to set up a subsidiary to reconnect to the global financial network as a sop to Moscow, the Financial Times said on Monday. With the bank under sanctions, the move aims to safeguard the Black Sea grain deal that allows Ukraine […] Read more
EU seen weighing concession to Russian bank over Black Sea deal
New arm of ag bank could connect to SWIFT
Ukraine ‘99.9 per cent’ certain Russia will quit Black Sea deal next month
Russia wants demands met on ammonia shipments
Kyiv | Reuters — Russia is 99.9 per cent certain to quit a U.N.-brokered deal on the safe wartime passage of Black Sea grain next month because it no longer needs Ukrainian ports to export ammonia, a senior Ukrainian diplomat said. The United Nations and Turkey brokered the Black Sea Grain Initiative with Moscow and […] Read more
What happens when the grain deal fails?
Economic and political unrest abroad will affect Canadians
Reading Time: 3 minutes Russia is using food as a weapon of war, one designed to compel Ukraine and its allies to cave to Russian demands for the open export of its own grain and fertilizer, and subsequently, the import of great quantities of cash for the Russian war chest. While there is a UN-brokered deal for the continued […] Read more
U.S. grains: Soy, corn futures steady; wheat mixed
Large Russian exports tempered fears of Black Sea corridor agreement breakdown
Chicago | Reuters — U.S. corn and soybean futures steadied on Tuesday after the market rallied sharply at the end of last week on concerns that hot and dry weather will lead to harvest shortfalls. The market remained underpinned by the most recent forecasts, which remained unfavourable for key growing areas of the U.S. Midwest, […] 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
Ukraine’s farm output could take 20 years to recover, study suggests
Some crop sectors may recover more quickly
Kyiv | Reuters — Ukraine’s agricultural sector could take 20 years or more in parts to recover from the ravages of Russia’s full-scale invasion, according to a Kyiv-based research centre. Ukraine is a major global grower and exporter of wheat, corn, sunflower and sunflower oil, but its production has fallen sharply since the war start […] Read more
Canada extends Ukraine tariff-free access
Access to supply-managed sectors tightened
Winnipeg | Reuters — Canada on Friday extended Ukraine’s tariff-free access for most goods, but tightened access for eggs, poultry and dairy — sectors protected under the Canadian supply-management system. Finance Minister Chrystia Freeland said tariff relief for Ukrainian goods such as steel — a temporary measure started a year ago — would continue for […] Read more
Kremlin says ammonia pipeline blast negative for Black Sea grain deal
Russia had sought transit for ammonia via Ukraine
Moscow | Reuters — The Kremlin said on Thursday that there would be a “negative impact” on the fate of a Black Sea grain deal from a blast which damaged a pipeline used to export Russian ammonia via Ukraine that Moscow wants restarted. The Togliatti-Odesa pipeline, which once pumped up to 2.5 million tonnes of […] Read more
EU extends restrictions on Ukrainian grain imports
Restrictions won't apply to seed for planting
Warsaw/Brussels | Reuters — The European Commission said Monday it was extending until Sept. 15 an arrangement whereby five of Ukraine’s EU neighbours can restrict imports of Ukrainian grain. The EU on May 2 allowed the five countries — Bulgaria, Hungary, Poland, Romania and Slovakia — to ban domestic sales of Ukrainian wheat, maize, rapeseed […] Read more
Ukraine says Russia again blocking Black Sea grain export deal
Russia seeks ammonia transit via Pivdennyi
Kyiv | Reuters — Ukraine’s ministry of renovation and infrastructure said on Thursday the U.N.-brokered Black Sea grain export deal had been halted again because Russia had blocked registration of ships to all Ukrainian ports. A U.N. spokesman said Russia had informed officials overseeing the initiative that Moscow would limit registrations to the port of […] Read more
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