Markets
March 16 (Reuters) – Nutrien Ltd, the world’s biggest fertilizer producer, said on Wednesday it plans to increase potash output by nearly 1 million tonnes this year to about 15 million tonnes in response to the uncertainty of supply from Eastern Europe. Potash is a key input required for producing nitrogen-containing fertilizers, and Russia and […] Read more
Markets
Russian grain exports boom despite invasion
Russia is shipping wheat like gangbusters despite many reports to the contrary. North American grain analysts indicate Russia’s exports have essentially been shut down by the war in Ukraine. They say shipping lines are no longer servicing Russian ports and insurance costs have climbed so high that it is not economically feasible for the world’s […] Read more
Bull run on wheat has roots in CME change: analyst
Recent rule changes at the Chicago Mercantile Exchange are partially responsible for the frothy wheat market, says an analyst. The CME implemented new rules last year allowing the all-months-combined speculative position limit for wheat to increase to 19,300 contracts from the former 12,000. That effectively increased the influence of speculative investors on the price of […] Read more
Wheat rises on Black Sea supply squeeze; soy slips on China demand fears
PARIS/MUMBAI, March 15 (Reuters) – U.S. and European wheat futures rose on Tuesday as export curbs by Russia fuelled concerns about global supply disruptions following Moscow’s invasion of Ukraine. Latest crop ratings for U.S. wheat, confirming poor conditions in drought-affected states like Kansas, also supported wheat in the face of losses in other commodity markets. […] Read more
Wetter spring expected for Prairies could help wheat crop
La Nina is hanging around longer than anticipated, and that is good news for western Canadian grain farmers. It will likely force the North American storm further north, causing spring storms to be routed through British Columbia rather than northern California, said David Streit, chief operating officer of Commodity Weather Group. “With that storm track […] Read more
Argentina halts export registration for soy oil, meal
BUENOS AIRES, March 14 (Reuters) – Argentina has halted registration of export sales of soy oil and meal, the South American country’s government said in a statement on Sunday, drawing swift condemnation from the industry in the world’s top exporter of processed soy products. The move stops sales and exports of the 2021/22 crop, but […] Read more
Brazil farmers sow 94 percent of second corn as ideal climate window draws to a close
SAO PAULO, March 14 (Reuters) – Brazilian farmers in the Center South had sown 94 percent of their second corn area through the end of last week, agribusiness consultancy AgRural said on Monday, as growers rush to plant their crop within the ideal climate window. This marks a 20 percentage point increase for sown area […] Read more
CP employees on brink of strike
A strike by rail workers at Canadian Pacific Railway would have a “potentially disastrous” impact on the country’s economy and could compromise agricultural productivity, according to Canada’s commercial fertilizer industry. In a March 11 news release, Fertilizer Canada called on the Teamster’s Canada Rail Conference (TCRC) and CPR to “swiftly resolve their negotiations to avoid […] Read more
Russian gas export ban could see big fertilizer price hike
Russia’s ban on fertilizer exports is prolonging the bull run in that market but there is one more step that could cause a stampede, says an analyst. Russia’s industry minister Denis Manturov announced March 10 that the country is temporarily suspending exports of fertilizer products. StoneX fertilizer analyst Josh Linville said the market was already […] Read more
Renewable diesel sector faces a wall
Industry expects to require 15 million litres by 2024, but it’s not certain there will be enough feedstock to get the job done
The renewable diesel industry has a looming feedstock problem, says an analyst. The Energy Information Administration is forecasting 11 to 19 billion litres of renewable diesel capacity in the United States by 2024, up from 3.8 billion litres today. Using the mid-range of the forecast, that is 15 billion litres of capacity that will be […] Read more
