Reading Time: 2 minutes Leaders of the nations in the BRICS grouping, which accounts for 37 per cent of global economic output, predicted its influence would grow as they met in Russia on Tuesday, outlining common projects ranging from a grain exchange to a cross-border payments system.
BRICS leaders tout grain exchange, joint finance at Russian summit
Egypt bets big with historic 3.8 million metric ton wheat tender
Reading Time: 2 minutes Egypt has launched a massive tender to import 3.8 million metric tons of wheat, its largest ever tender according to traders, as the country seeks to take advantage of a slump in global wheat prices to 4-year lows.
From Black Sea to US Midwest, extreme weather threatens crop output
Hot, dry weather forecast for Russia, Ukraine in coming months; relief seen for China's corn, soybean crops hit by heatwave
Reading Time: 3 minutes Forecast dryness in the Black Sea region's breadbasket is likely to stunt sunflower and corn yields, while heavy rain in the United States after near-record temperatures threaten to take a toll on crops, hitting world supplies and pushing prices higher.
Crop woes may lead Russia to narrow grain exports
Russian government says it may declare a nationwide emergency as frost, drought affects crop
Reading Time: 2 minutes Russia may narrow the spread of its grain exports in the new season due to crop problems, keeping supplies to its traditional markets, VTB board member Vitaly Sergeуchuk said.
China set for bumper harvests of grains and oilseeds, ministry says
Reading Time: < 1 minute China is set for another year of bumper harvest of grains and oilseeds, helped by expanded planting of winter wheat and rapeseed and healthy growth of seedlings, the country's agriculture ministry said on Friday.
ICE weekly outlook: Virtually no upside for canola
Forthcoming South American soybean harvest a bearish influence
Reading Time: 2 minutes With 2024 well underway, canola has very little reason to get excited, according to analyst Wayne Palmer of Exceed Grain in Winnipeg.
Bulk ocean freight rates fall from highs despite uncertainty
Container rates have climbed higher as Houthi attacks in the Red Sea have caused diversions
Reading Time: < 1 minute The Baltic Dry Index (BDI), a major indicator of bulk shipping rates, has dropped sharply over the past month after hitting 18-month highs in early December. Meanwhile, container rates have climbed higher over the same period as attacks by Houthi militants in the Red Sea have caused many shipping companies to divert their vessels.
Romanian farmers, truck drivers protest near border with Ukraine
Grievances include influx of Ukrainian goods, fuel costs, environmental measures
Reading Time: 2 minutes Bucharest | Reuters -- Hundreds of Romanian farmers and truck drivers protested near border crossings with Ukraine and near large cities across the country on Monday amid ongoing negotiations with the government over high business costs.
IGC raises wheat, corn, cuts soybeans
IGC upped projected total grain ending stocks to 590.2 million tonnes
Reading Time: 2 minutes As the world’s supply of grain for 2023/24 was increased to 2.307 billion tonnes, the International Grain Council bumped its projections for wheat and corn, while trimming those for soybeans.
Volatile oil market most likely to improve says analyst
Israel-Gaza war, Red Sea attacks having less impact than expected
Reading Time: 2 minutes As the global oil market continued to ready itself for 2024, one analyst stated it’s more likely prices will increase than to drop further. Phil Flynn of the Price Futures Group in Chicago said one’s outlook on crude oil is predicated on their economic view.
A message from April Stewart, Country Guide's Associate Editor
