Reading Time: 2 minutes MarketsFarm — After dropping to their weakest levels of the past two years, U.S. wheat futures were due for the corrective bounce that saw all three markets posted sharp gains on Wednesday. Soybeans and corn saw spillover support from the rally in wheat, with all three markets watching weather conditions through the growing season. U.S. […] Read more
CBOT weekly outlook: U.S. wheat futures correct higher
Traders' eyes remain on weather
U.S. grains: Wheat rallies as tensions rise between Russia, Ukraine
Recent rains may not be enough to save U.S. wheat, traders say
Reading Time: 2 minutes Mexico City | Reuters — Chicago wheat rebounded from a 25-month low to close higher on Wednesday, edging up on fresh tensions between Russia and Ukraine that cast doubt on the future of the Black Sea grains corridor, analysts said. Corn also gained on the tensions. Soybeans, meanwhile, followed with a rally after touching a […] Read more
European Commission to ban Ukrainian grain exports to Romania
Talks ongoing with Ukraine's other neighbours
Reading Time: < 1 minute Bucharest | Reuters — The European Commission will ban Ukrainian grain and oilseeds exports to Romania until June 5, Romanian Agriculture Minister Petre Daea said on Wednesday. Romania has stopped short of enforcing a ban, whereas Poland, Hungary, Bulgaria and Slovakia took unilateral steps to protect local markets from a flow of Ukrainian farm products. […] Read more
Russian envoy says no breakthrough on grain deal
Ukraine says Moscow blocking ships
Reading Time: 2 minutes Geneva | Reuters — Russia’s envoy to the United Nations in Geneva on Wednesday said “no real progress” had been achieved in resolving issues raised by Moscow over the Black Sea grain deal, which is set to expire next month. Separately, Ukraine accused Russia of blocking the passage of four grain ships from its Black […] Read more
CBOT weekly outlook: U.S. rain, StatCan report biggest influences
Russia's sabre-rattling not yet swaying markets
Reading Time: 2 minutes MarketsFarm — The three to five inches of rain received Wednesday in Kansas and Oklahoma have put pressure on Kansas City and Chicago wheat prices on the Chicago Board of Trade (CBOT), according to broker Ryan Ettner of Allendale Inc. Added to that, Statistics Canada’s (StatCan) report on prospective plantings, also received Wednesday, has weighed […] Read more
U.S. grains: Corn hits eight-month low
Soybeans, wheat at one-month low
Reading Time: 2 minutes Chicago | Reuters — Chicago Board of Trade corn futures slumped on Monday to an eight-month low after the government announced that China canceled some purchases of U.S. supplies of the grain. The cancellations, which also weighed on wheat and soybean futures that hit one-month lows on Monday, highlighted concerns about weak demand for U.S. […] Read more
Moscow would scrap grain deal if G7 bans exports, Medvedev warns
G7 said to be considering blanket ban on exports to Russia
Reading Time: 2 minutes Reuters — Former Russian president Dmitry Medvedev said on Sunday that if the G7 moved to ban exports to Russia, Moscow would respond by terminating the Black Sea Grain deal that enables vital exports of grain from Ukraine. The Group of Seven (G7) countries are considering a near-total ban on exports to Russia, Japan’s Kyodo […] Read more
CNH sheds Russian business
New Holland, Case IH maker had suspended shipments last year
Reading Time: 2 minutes The maker of Case IH and New Holland tractors and combines is selling its business activities in Russia for about US$60 million. CNH Industrial, which employs about 200 people in Russia, announced the divestment in a release Wednesday without naming the buyer. CNH in March last year suspended all shipments and supplies to Russia and […] Read more
CBOT weekly outlook: Weather, demand affect grain prices
Wheat 'up and down' on Black Sea uncertainty
Reading Time: 2 minutes MarketsFarm — Severe weather in the U.S. as well as macroeconomic factors at home and abroad affected grain prices on the Chicago Board of Trade (CBOT) for the week ended Wednesday. Jack Scoville of Price Futures Group in Chicago said wet and cool weather across the U.S. Plains, Midwest and corn belt, as well as […] Read more
Ukraine agrees with Poland on resumed grain transit
Ukraine also trying to salvage Black Sea grain deal
Reading Time: 3 minutes Warsaw | Reuters — Poland agreed on Tuesday to lift a ban on the transit of Ukrainian grain and food products, but Ukraine said a wartime deal allowing it to safely ship grain from Black Sea ports was still under threat. Failure to resume exports into eastern European countries or secure an extension of the […] Read more
A message from April Stewart, Country Guide's Associate Editor
