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Liberia-flagged bulker K Sukret, carrying grain under the Black Sea Grain Initiative, waits for inspection in the southern anchorage of Istanbul on May 17, 2023. (Photo: Reuters/Mehmet Emin Caliskan)
Crops, Reuters

Black Sea grain deal extended for two months

Agreement has helped to tackle global food crisis

By
Ankara/United Nations | Reuters — The Ukraine Black Sea grain deal has been extended for two more months, one day before Russia could have quit the pact over obstacles to its grain and fertilizer exports. Turkish President Tayyip Erdogan announced the extension in a televised speech and it was confirmed by Russia and Ukraine. The […] Read more
CBOT July 2023 soybeans with 20-, 50- and 100-day moving averages. (Barchart)
Crops, Markets, Reuters

U.S. grains: Soy, corn tumble on improving crop prospects, export competition

Chicago wheat futures follow downtrend

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Chicago | Reuters — U.S. spot soybean futures fell 2.6 per cent on Tuesday to multi-month lows and corn futures slipped nearly two per cent, pressured by decent U.S. Midwest crop weather and strong competition for global export business, traders said. Wheat followed the lower trend. Chicago Board of Trade July soybeans settled down 36-3/4 […] Read more
A vessel is seen arriving at Odesa in southern Ukraine under the Black Sea Grain Initiative on April 12, 2023. (Photo: Yulii Zozulia/Nurphoto via Reuters Connect)
Crops, Markets, Reuters

Loss of Black Sea grain deal not seen as threat to global supplies, for now

Alternate routes exist but would be more expensive

By
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
Nutrien’s head office building in Saskatoon. (Liam O’Connor photo)
Crops, Markets, Reuters

Nutrien cuts earnings forecast after quarterly profit misses estimates

High fertilizer prices seen dragging on demand

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Reuters — Nutrien Ltd. on Wednesday cut its forecast for 2023 earnings as elevated fertilizer prices owed to Western sanctions on Russia and Belarus weigh on demand. U.S.-listed shares of the company fell 3.9 per cent in extended trading Wednesday as it also reported a lower-than-expected quarterly profit. Though fertilizer prices have dipped from record […] Read more
A vessel is seen arriving at Odesa in southern Ukraine under the Black Sea Grain Initiative on April 12, 2023. (Photo: Yulii Zozulia/Nurphoto via Reuters Connect)
Crops, Markets, Reuters

Black Sea grain deal could be extended two months, Turkish minister says

Inspections of outbound vessels have resumed

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Istanbul | Reuters — Turkish Foreign Minister Mevlut Cavusoglu said Wednesday he thought the Ukraine Black Sea grain deal could be extended for at least two more months, as officials from the parties involved held the first day of talks on an extension in Istanbul. Russia has said it would not extend the pact beyond […] Read more
File photo of wheat south of Ethelton, Sask. on Aug. 1, 2022. (Dave Bedard photo)
Crops, Markets

CBOT weekly outlook: U.S. wheat futures correct higher

Traders' eyes remain on weather

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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
Detail from the front of the CBOT building in Chicago. (Vito Palmisano/iStock/Getty Images)
Crops, Markets, Reuters

U.S. grains: Wheat rallies as tensions rise between Russia, Ukraine

Recent rains may not be enough to save U.S. wheat, traders say

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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

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