Russia
Several grain companies announced plans to stop Russian grain exports as of July 1. As Russia tries to take control of its domestic grain industry, analysts think it will ultimately hurt Russian grain farmers.
As Ontario, Canada farmer Julie Maw scouts her wheat fields, it’s the moment of truth for the record number of acres planted across the province this year.
Russia badly needs to replace expended and outdated Soviet arms while China needs Russian energy. That is compelling math. This is bad news not just for the heroic people of Ukraine, but Europe and the US.
Russia is now saying it will only extend its Black Sea grain deal if sanctions are lifted on its own agricultural products. The deal, which was brokered last year, allowed for safe passage of Ukrainian ag products.
A year ago, Russia’s invasion of Ukraine injected uncertainty about global grain supplies into the market. Today, initial concerns have been squashed by the reality of record exports from the Black Sea Region.
The price surge comes as Europe announced a ban on Russian diesel fuel and G7 countries vowed to price-cap Russian oil products.
SINGAPORE, Oct 31 (Reuters) - Russia’s weekend backtrack from a U.N.-brokered deal to export Black Sea grains is likely to hit shipments to import-dependent countries.
Global inflation will likely decrease to 6.5% in 2023 and to 4.1% by 2024, according to the International Monetary Fund (IMF) forecast.
Europe is racing to investigate potential acts of sabotage after both the natural gas pipelines linking it to Russia suffered inexplicable, sudden leaks. This comes as Europe transitions away from Russian fossil fuels.
Putin said he now wants to renegotiate the U.N.-brokered Ukraine grain export deal, raising concerns the pact may not be able to last. Meanwhile, G7 countries mull over a $44 price cap on Russian oil.
Russia’s Blizzard of the Century Is a Blessing for Wheat Fields
Cold weather in central areas and the Volga valley of Russia delayed the resumption of winter wheat growth by about two to three weeks compared with last year.
Russian wheat export prices rose last week following higher wheat prices in Paris, analysts said on Monday, adding that the country’s exports continued to slow down due to seasonal factors.
Trade disruptions in energy, fertilizer and grains are inevitable. In fact, effects are likely to last for years, possibly even decades.
Before Putin’s forces even breached the Ukraine border, fear and speculation drove commodity prices skyward. Concerns are warranted.
Russia may suspend exports of wheat, barley, corn and rye starting Tuesday and lasting until June 30, the Interfax news agency reported on Monday, citing the agriculture ministry.
March 11 (Reuters) - Global farm commodities trader Cargill Inc (CARG.UL) said on Friday it was scaling back its business activities in Russia and has stopped investments in the country.
(Reuters) - The Russian invasion of Ukraine threatens millions of tiny spring-time sprouts that should emerge from stalks of dormant winter wheat in the coming weeks.
“Before the war with Ukraine, the President encouraged Russia to produce more oil to help us lower the price at the pump,” says U.S. Sen. Jerry Moran (R-KS). “That’s so hypocritical.”
UPDATE: WASHINGTON (AP) - Biden: US ban on Russian oil a ‘powerful blow’ to ‘Putin’s war,’ warns Americans ‘defending freedom is going to cost.’
UPDATE: 03/02 4:23 pm-EST-There are reports a missile struck a vessel flying under the flag of Bangladesh in Ukraine.
Look ahead to potential situations including debt limit, inflation, inputs costs, and foreign threats.
AgriTalk Host Chip Flory and Pro Farmer policy analyst Jim Wiesemeyer discuss plans Congress will probably have these last weeks of 2021, including the debt ceiling and the Build Back Better plan in the Senate.
Russia may have hacked people’s thoughts on GMOs in addition to their political views.
Get your day started with a brief rundown of key news.
Inventories at post-Soviet high, but still only equal to half of U.S. output.
Australia and Argentina seen producing biggest crop in five years.
Get your day started with a brief rundown of key news.