GFM Network News

Russia-Turkey tensions stymie new wheat deals

Reading Time: 2 minutes Reuters — Political tension between Russia and Turkey has put a brake on new wheat deals between the two countries and created uncertainty about existing agreements, traders said Thursday. Relations between Russia, one of the world’s largest wheat exporters, and Turkey, the largest buyer of Russian wheat, have quickly deteriorated after Turkey shot down a […] Read more

Russia, Ukraine may cut grain crop forecasts as temperatures rise

Reading Time: 2 minutes Moscow/Kiev | Reuters — Major Black Sea wheat exporters Russia and Ukraine may cut their official 2015 grain crop forecasts as recent hot weather has raised the risks to plants and rains elsewhere have delayed the harvest and dented quality, farmers and officials said. Russia and Ukraine’s agriculture ministries have said if hot weather persists […] Read more

Uncertainty over Russia’s wheat export tax seen slowing trade

Reading Time: 2 minutes Moscow/Abu Dhabi | Reuters –– Uncertainty over Russia’s new wheat export tax is slowing trade activity as traders who have signed forward contracts say they are unsure about how the formula will be implemented. The floating tax formula, to be launched from July 1, is intended to stop exports surging if the rouble drops steeply, […] Read more

Russia starts spring seeding with raised hopes for harvest

Reading Time: 2 minutes Moscow | Reuters –– Russian farmers have started their spring seeding campaign with prospects for the 2015 crop brighter than first thought, the agriculture ministry said on Wednesday. Russia, one of the main key wheat exporters to North Africa and the Middle East, needs a good crop after a sharp drop in the rouble has […] Read more

Russian grain exports seen reviving as informal curbs ease

Reading Time: 2 minutes Moscow | Reuters –– Russian grain exports have picked up again after a decision to impose official export duties reduced informal curbs that had all but stopped sales abroad, SovEcon agriculture consultancy said on Saturday. Russia, the world’s fourth-largest wheat exporter, introduced informal grain export controls last week to try and cool domestic wheat prices […] Read more

Russia’s grain exports stop: farm lobby

Reading Time: 2 minutes Moscow / Abu Dhabi / Reuters — Russia’s grain exports have stopped due to curbs brought in to protect domestic supply, putting big deals at risk, an influential farm lobby group said on Wednesday. Russia’s main wheat buyers are Turkey, Iran and, very vulnerable to supply disruption, Egypt. Moscow imposed informal grain export controls with […] Read more

Russian grain exporters stop buying

Reading Time: 2 minutes Moscow / Reuters — A Russian grain exporters’ group that accounts for about three-quarters of the country’s shipments said on Friday it had stopped buying for export until domestic prices cool down. The move follows informal government measures to restrict exports as Moscow tackles a currency crisis, including through toughening of quality controls and a […] Read more