Reading Time: < 1 minute Chicago | Reuters – The U.S. Department of Agriculture cut its forecasts for Russian wheat production and exports on Wednesday, after Moscow declared federal emergencies over crop losses due to unfavourable weather. Increasing concerns about damage from drought and frosts in Russia, the world’s biggest wheat supplier, drove Chicago board of Trade wheat futures to 10-month highs in May […] Read more
USDA cuts Russian wheat crop estimate after damaging frosts
Russia declares federal state of emergency in 10 agricultural regions
Reading Time: 2 minutes Russia said on Friday it was declaring a federal emergency in 10 regions because of damage to crops resulting from frosts in May.
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.
EU sets prohibitive tariffs on Russian, Belarusian grain from July
Reading Time: 2 minutes Today European Union trade ministers agreed to impose prohibitive tariffs on cereals, oilseeds and derived products from Russia and Belarus from July 1, a move the bloc said would halt imports of these products.
Prairie Wheat Weekly: Spring wheat bids on the rise
Reading Time: 2 minutes Bids for Canadian Western Red Spring (CWRS) and Canadian Prairie Red Spring (CPRS) wheat varieties were higher for the week ended May 16. The price rises were mainly due to stronger United States wheat futures and weather concerns at home and abroad.
U.S. fertilizer imports helping fund Russian war effort, CF Industries says
Reading Time: 2 minutes Reuters – U.S. agriculture companies have been brisk importers of Russian fertilizer since the 2022 Ukraine invasion, a practice that is unwittingly helping fund Russia’s war against Ukraine, U.S. producer CF Industries CF.N said on Thursday. The U.S. does not impose sanctions directly on Russian fertilizer, which is important to global food supplies and prices. […] Read more
EU plans to hit Russia, Belarus grain imports with tariffs
Commission aims to curb Russian income, prevent market distortions, placate farmers
Reading Time: 2 minutes The European Commission proposed on Friday imposing tariffs on imports of grain from Russia and Belarus in an attempt to prevent Moscow and its ally from distorting EU markets and placate farmers who have protested for months over cheap imports.
Louis Dreyfus withstands commodity price drop to post stable profits
While less chaotic than 2022, war and weather continued to disrupt supply last year
Reading Time: 2 minutes Louis Dreyfus Company's (LDC) profits last year held close to the bumper levels of 2022, with the agricultural commodity giant saying its global trading network helped it withstand falling prices.
Polish farmers backtrack on unblocking Ukraine border crossing, PAP reports
Protesting farmers say they will block Slovakia border against Ukrainian, Russian goods until end of month
Reading Time: 2 minutes Polish farmers increased the number of trucks they let through the Dorohusk border crossing with Ukraine on Wednesday but backpedaled on a promise to unblock it completely, state news agency PAP reported on Wednesday.
Poland may ban Russian agricultural imports, says PM Tusk
Latvia has already implemented a ban
Reading Time: < 1 minute Poland doesn't rule out introducing a ban on agricultural products from Russia, the prime minister said on Thursday during a visit to Warsaw by his counterpart from Latvia, which has already implemented such a ban.
A message from April Stewart, Country Guide's Associate Editor
