Reuters — Russia sought on Thursday to retaliate against Western sanctions imposed over its invasion of Ukraine by banning exports of certain goods and agricultural commodities. Exporting telecom, medical, auto, agricultural, electrical and tech equipment, as well as some forestry products, will be banned until the end of 2022. “These measures are a logical response […] Read more
Moscow retaliates against sanctions with export bans
Italian ministry tells firms to source durum from Canada
Rome | Reuters — In the wake of Russia’s invasion of Ukraine, Italian firms can source durum wheat from Canada, the Italian industry ministry said in a statement following meetings on Wednesday with various firms and associations. The statement added that alternative suppliers for clay, iron and sunflower seeds had not yet been found. Ukraine […] Read more
ICE weekly outlook: Canola’s contract highs still underpriced
MarketsFarm — The ICE Futures canola market posted solid gains during the week ended Wednesday, hitting fresh contract highs in many months. The most active May contract hit a session high of $1,143.70 per tonne on Wednesday, but settled off that mark at $1,125.20 per tonne. While canola may be trading in uncharted territory, there […] Read more
U.S. grains: Wheat futures limit down as USDA cuts exports
Corn pressured by oil prices, soybeans pare gains
Chicago | Reuters — Chicago wheat futures hit their daily trading limit on the downside for the second straight day on Wednesday, as the U.S. government cut domestic wheat exports and global markets continue to be roiled by supply disruptions stemming from Russia’s invasion of Ukraine. Soybean futures turned lower after the U.S. Department of […] Read more
U.S. grains: Wheat futures down off rally
Corn firm, soybeans strong
Chicago | Reuters — U.S. wheat futures fell Tuesday, snapping a six-session winning streak, as the market wrestled with supply upheaval caused by Russia’s invasion of fellow grain exporter Ukraine. Wheat prices hit the downside of their daily trading limits during the session but closed well above those lows after Interfax news agency said Russian […] Read more
Fallout from Russian invasion could last all year
Reading Time: < 1 minute Alberta Pork is warning its producers that feed costs could stay high throughout the year because the invasion of Ukraine by Russia has not only halted the country’s grain exports but disrupted trade patterns. “China’s need to fill the grain market void left by Ukraine is expected to push prices higher,” the organization said in […] Read more
U.S. grains: Wheat limit up to 14-year highs
CBOT May corn, soybeans down
Chicago | Reuters — U.S. wheat futures gapped higher on Monday, notching a limit-up move as it neared an all-time high on concerns that global supply shipments will be disrupted until the Russia-Ukraine conflict is resolved. European wheat has already hit record highs as deepening Western sanctions against Russia fuelled concerns about exports from the […] Read more
WFP ramps up food aid to Ukraine amid reports of severe shortages
London | Reuters — The World Food Programme said on Friday it is ramping up food aid to war-torn Ukraine, citing reports of severe shortages of food and water in Kyiv, the capital, and the northeastern city of Kharkiv. The U.N. agency said it is in the process of finding partners in Ukraine to help […] Read more
Louis Dreyfus suspends operations in Russia
Paris | Reuters — Louis Dreyfus Co., (LDC), one of the world’s largest agricultural commodity merchants, has suspended its operations in Russia, it said on Friday. LDC did not provide further details in an emailed response to a question about the impact of Russia’s invasion of Ukraine on its activities. Like other crop traders, it […] Read more
U.S. grains: Wheat extends run to 14-year high on Russia-Ukraine supply threat
U.S. studying biofuel waiver to fight food inflation
Chicago | Reuters — Chicago Board of Trade wheat futures galloped to another 14-year high on Thursday as Russia’s invasion of Ukraine increasingly fanned fears of massive disruptions to grain exports from the Black Sea region. Wheat and corn futures advanced by their daily trading limits during a volatile session, though the corn market later […] Read more
Cyber-Savvy Farmer
