Reading Time: 2 minutes MarketsFarm – A pair of announcements affected the Chicago Board of Trade by different magnitudes on Nov. 2. Four days after Russian officials said the country was pulling out of an agreement to allow Ukrainian grain shipments on the Black Sea, the Russian government announced on Nov. 2 it changed its mind and will re-enter […] Read more
CBOT weekly outlook: Russian flip-flop upsets markets, little change after Fed announcement
Ukraine grain export deal back on as Russia resumes participation
Reading Time: 4 minutes Ankara/Kyiv | Reuters – Russia said on Wednesday it would resume its participation in a deal freeing up grain exports from war-torn Ukraine, reversing a move that world leaders had said threatened to exacerbate global hunger. Moscow announced the sudden reversal after Turkey and the United Nations helped keep Ukrainian grain flowing for several days […] Read more
U.N.’s Black Sea grain deal continues without Russia
Reading Time: 2 minutes London | Reuters – Grain was flowing out of Ukraine at a record pace on Monday under an initiative led by the United Nations aimed at easing global food shortages despite Russia’s decision to suspend its participation in the scheme. Russia said on Saturday it was pulling out of the deal, which ensured safe passage […] Read more
Russia halts Ukraine Black Sea grain exports, Biden outraged
Reading Time: 3 minutes Reuters – Russia on Saturday suspended participation in a U.N.-brokered Black Sea grain deal after what it said was a major Ukrainian drone attack on its fleet in Crimea, dealing a blow to attempts to ease the global food crisis. U.S. President Joe Biden denounced the move as “purely outrageous” and said it would increase […] Read more
Crop merchant Bunge raises full-year profit outlook
Reading Time: < 1 minute Agricultural commodities trader Bunge Ltd BG.N on Wednesday raised its full-year earnings outlook after posting an adjusted third-quarter profit that topped expectations, sending its shares up about 2 per cent in premarket trading. The improved forecast was attributed to favorable market conditions as tight global crop supplies and strong demand have benefited supply chain middlemen […] Read more
Ukraine keeps 2023 winter wheat sowing area forecast unchanged despite delays
Reading Time: < 1 minute Kyiv | Reuters – Ukraine is keeping its forecast of the winter wheat sowing area for the 2023 harvest unchanged at 3.8 million hectares despite a delay caused by unfavourable weather, deputy agriculture minister Taras Vysotskiy told Reuters on Tuesday. Ukraine sowed more than 6 million hectares of winter wheat for the 2022 harvest, but […] Read more
U.S. grains: Wheat, corn, soy end higher but below session peaks
Weaker U.S. dollar supportive
Reading Time: 2 minutes Chicago | Reuters — U.S. wheat, corn and soybean futures edged higher on Friday, recovering from overnight weakness on spillover support from friendly outside markets, traders said. “Equities went from lower to sharply higher, the dollar from higher to lower, and I think that spurred some buying in grains,” said Don Roose, president of U.S. […] Read more
U.S. grains: Soy futures rally on strong exports
Chicago corn, wheat also firm
Reading Time: 2 minutes Chicago | Reuters — U.S. soybean futures rose 1.4 per cent on Thursday as strong export data buoyed hopes that overseas buyers will book more deals in coming weeks. Corn and wheat futures also were firm, with short-covering and technical buying underpinning the market after prices for both commodities dropped near the low end of […] Read more
CBOT weekly outlook: Ukraine talks, low Mississippi River pressure prices
Outside forces pile on seasonal harvest pressures
Reading Time: 2 minutes MarketsFarm — Ongoing harvests for corn, wheat and soybeans in the U.S. and a strong U.S. greenback are putting pressure on markets in the Chicago Board of Trade (CBOT). However, other factors have caused prices to come down during the week ended Tuesday. While the war in Ukraine continues to rage on, negotiations persist between […] Read more
U.S. grains: Wheat, soybeans, corn fall on demand concerns
CBOT December wheat touches four-week low
Reading Time: 2 minutes Chicago | Reuters — U.S. wheat, corn and soybean futures fell on Tuesday on concerns that overseas buyers will turn to alternative supplies to meet their import needs, traders said. “Consistently high prices are slowly doing their job of eroding demand across the board, with Brazil in particular among a group of global players that […] Read more
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