Reading Time: 3 minutes United Nations | Reuters — The European Commission is helping the United Nations and Turkey try to extend a deal allowing the Black Sea export of Ukraine grain and is open to “explore all solutions,” a European Union spokesperson said on Thursday, ahead of the deal’s possible expiration on Monday. The U.N. and Turkey brokered […] Read more
UN scrambles to save Black Sea deal ahead of Monday deadline
Russia says has not yet taken final decision
EU seen weighing concession to Russian bank over Black Sea deal
New arm of ag bank could connect to SWIFT
Reading Time: 3 minutes 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 extends restrictions on Ukrainian grain imports
Restrictions won't apply to seed for planting
Reading Time: 2 minutes 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
Loss of Black Sea grain deal not seen as threat to global supplies, for now
Alternate routes exist but would be more expensive
Reading Time: 2 minutes Geneva | Reuters — The end of the Black Sea grain deal would not pose an immediate threat to the world market as Ukraine would still be able to export supplies, although at such a high cost that production in the war-torn country would likely fall even further. Turkey, Ukraine, Russia and the United Nations […] Read more
Rapeseed production expected down in EU
USDA attache sees more soy, sunflower
Reading Time: 2 minutes MarketsFarm — Rapeseed production in the European Union (EU) is expected to see a small decrease in the 2023-24 marketing year, according to the U.S. Department of Agriculture’s (USDA) European Union attaché in Vienna. In a Global Agricultural Information Network (GAIN) report released Wednesday, the EU’s 2023-24 rapeseed crop is expected to total 19.3 million […] Read more
EU sets Ukraine grain import restrictions in five countries until June 5
Supports pledged for farmers in those countries
Reading Time: < 1 minute Brussels | Reuters — The European Commission said on Tuesday it set restrictions until June 5 on imports of Ukrainian wheat, maize, rapeseed and sunflower seed to ease the excess supply of these grains in Bulgaria, Hungary, Poland, Romania and Slovakia. The EU executive arm said that during that period, Ukrainian wheat, maize, rapeseed and […] Read more
Deal reached to resume Ukraine grain transit with five EU countries
Agreement includes support package for local farmers
Reading Time: < 1 minute Brussels | Reuters — The European Commission said Friday it had reached a deal in principle to allow transit of Ukrainian grain to resume through five European Union countries that had imposed restrictions. Bulgaria, Hungary, Poland, Romania and Slovakia cited concerns that grain from Ukraine meant to be exported to other countries had ended up […] Read more
U.S. grains: Chicago grains up off new lows, end week higher
Wheat rebounds off another 21-month low
Reading Time: 2 minutes Reuters — Chicago grain and soybean futures ended higher on Friday after posting fresh lows earlier as traders anticipated hefty global supplies and kept an eye on weather in the U.S. Bouts of short covering ahead of the weekend lifted contracts after corn, soy and wheat futures all struck multi-month lows this week. Recent rains […] Read more
U.S. grains: Chicago wheat closes down as global supplies look strong
Market monitoring Plains rain relief, Black Sea grain talks
Reading Time: 2 minutes Mexico City | Reuters — Chicago grains and soybean futures closed lower to mixed on Wednesday, as traders eyed sluggish demand and upcoming U.S. export sales data. Wheat fell on news of ample short-term global supplies, despite the risk that an agreement allowing exports from war-torn Ukraine may end next month. Canadian farmers intend to […] Read more
Poland pledges aid for farmers as PM slams EU response
PM says EU offer a 'drop in the ocean'
Reading Time: < 1 minute Warsaw | Reuters — European Union measures to help farmers affected by a glut of Ukrainian food imports are too little too late, the Polish prime minister said on Friday, after the government approved 10 billion zlotys (C$3.23 billion) in aid for Polish agriculture. Central European countries are trying to thrash out a deal with […] Read more
A message from April Stewart, Country Guide's Associate Editor
