Southeast Saskatchewan is sole bright spot in durum growing areas SASKATOON — The latest U.S. durum production estimate could be a harbinger of what’s to come in Canada, says an analyst. The U.S. Department of Agriculture is now forecasting 2.09 million tonnes of U.S. production, down 14 percent from its July estimate. GrainFox chief analyst […] Read more
Tag Archives Russia
Price slip increases wheat’s competitiveness
Canadian wheat prices had been the highest among major exporters, but they have now dropped to the middle of the pack SASKATOON — Canada’s wheat prices have become more competitive of late, according to the U.S. Department of Agriculture. They were the highest of all the major exporters from November 2023 through June 2024, but […] Read more
Russian farmers fight to salvage harvest as heat continues
Extreme weather patterns make harvest volatile as a key grain-growing region cuts production forecast by 38 per cent
ROSTOV REGION, Russia (Reuters) — Under the sweltering sun and in temperatures of 50 C, farmers in the Rostov region — Russia’s breadbasket — toil to salvage a harvest battered by a heat wave, frosts and floods. Accounting for 11 per cent of Russia’s total grain harvest last year, Rostov is one of the key […] Read more
Russia, India strengthen ag trade relationship
Indian imports of Russian grain and grain products rose 22 fold this year, driven by pea, lentil, barley and corn shipments
MOSCOW, Russia (Reuters) — India increased its imports of Russian grain and grain products 22 fold in the 2023-24 agricultural season, well above other major importers, according to data released during Indian Prime Minister Narendra Modi’s recent visit to Moscow. Economic co-operation between the two BRICS members and major agricultural powers was high on the […] Read more
Russia now sells more peas to China than Canada
Canada once had a 95 to 97 per cent market share but has dropped to 44.6 per cent, compared to Russia’s 49.1 per cent
SASKATOON — Russia has officially displaced Canada as the top exporter of peas to China. Russia’s Union of Grain Exporters said the country shipped 1.13 million tonnes of the crop to that market in 2023-24, according to a Reuters story. That gave it a 49.1 per cent market share compared to Canada’s 44.6 per cent. […] Read moreNew BRICS grain exchange idea gains traction
Group appears to be getting behind Russia’s proposal for a new marketing system, but trade observers remain skeptical
SASKATOON — Russia’s proposal to form a BRICS grain exchange appears to be gaining momentum. BRICS is an intergovernmental organization comprising Brazil, Russia, India, China, South Africa, Iran, Egypt, Ethiopia and the United Arab Emirates, according to Wikipedia. The idea for a BRICS grain exchange was originally tabled by the chair of Russia’s Union of […] Read more
EU to slap steep tariffs on Russian grain
REUTERS — The European Union will impose prohibitive tariffs on cereals, oilseeds and derived products from Russia and Belarus from July 1, a move that will “in practice” halt imports of these products. The tariffs will be US$102.76 per ton for cereals and 50 per cent for oilseeds. “The new tariffs set today aim to […] Read more
Wheat price outlook hinges on Russia
The market has already begun to respond as dry conditions and now frost significantly threaten production this year
SASKATOON — The 2024-25 wheat market outlook hinges on one key question. “The bottom line is, it comes back to Russia. Are they going to be able to have a big enough crop again this year to dominate world exports and hold prices down, or not?” DTN lead analyst Todd Hultman said during a recent […] Read more
Major pulse competitor may face trouble with pea crop
While dry conditions worry Russia's pea growers, the country prepares to become a major threat in global lentil markets
SASKATOON — There are some early-season problems with Russia’s yellow pea crop, according to analysts. “Because of frost and low precipitation in southern regions, conditions are far from brilliant,” Sergey Pluzhnikov, chief executive officer of Russian Pulses Analytics, said in a text message. Related stories: There are also problems in Siberia. Chickpeas and lentils have […] Read more
Flax acres down amid hope for renewed EU interest
SASKATOON — Canadian flax growers could regain some of the market share they have lost in the European Union in 2024-25, says a commodity broker. The European Commission has proposed higher tariffs on imports of cereals and oilseeds from Russia and Belarus. In nearly all cases, duties would rise to either $139 per tonne or […] Read more
