Wheat markets have been focused on Ukraine’s improving export logistics but they might want to take a sideways glance at a neighbouring country, says an analyst. SovEcon analyst Andrey Sizov estimates that Russia’s exports for July and August, the first two months of the 2022-23 marketing campaign, will amount to a disappointing 5.9 million tonnes. […] Read more
Tag Archives Ukraine war — page 11
Near average Ukrainian canola crop expected
Country expected to harvest 2.73 million tonnes of rapeseed/canola, which is only slightly below the five-year average
Ukrainian president Volodymyr Zelensky recently warned that the country could harvest half of a normal crop this year because of the Russian invasion. However, there is one notable exception, and it is a crop that competes head to head in international markets with Canada’s top money-maker. APK-Inform is forecasting that Ukraine will harvest 2.73 million […] Read more
Tight supplies prompt bullish prediction
The pendulum has swung too far in grain markets, says an industry analyst. “I think we have overdone it on the downside,” said Todd Hultman, lead analyst with DTN/Progressive Farmer. December corn futures are stabilizing at around US$6 per bushel while nearby Minneapolis wheat futures have dipped below $9. Hultman thinks there is a reasonable […] Read more
Shrinking U.S. cattle herd signals sustained high beef prices
CHICAGO, Aug 9 (Reuters) – U.S. consumers grappling with soaring inflation face more pain from high beef prices as ranchers are reducing their cattle herds due to drought and lofty feed costs, a decision that will tighten livestock supplies for years, economists said. The decline in cattle numbers, combined with stiff costs for other production […] Read more
Wheat and corn fall as more grain ships leave Ukraine
HAMBURG, Aug 8 (Reuters) – Chicago wheat and corn prices fell on Monday after reports of more ships sailing from Ukraine to bring grain exports into global markets. Welcome rain and lower temperatures forecast in the U.S. Midwest also weakened corn and soybeans. The Chicago Board of Trade’s most active wheat contract Wv1 fell 1.4 […] Read more
Near average Ukrainian canola crop expected
Ukrainian president Volodymyr Zelensky recently warned that the country could harvest half of a normal crop this year because of the Russian invasion. However, there is one notable exception, and it is a crop that competes head-to-head in international markets with Canada’s top money-maker. APK-Inform is forecasting that Ukraine will harvest 2.73 million tonnes of […] Read more
Ukrainian farmers struggle as war continues
Producers desperately need exports to resume as they run out of money; some suggest 50 percent could go bankrupt
A tenuous agreement allowing some of Ukraine’s Black Sea ports to start shipping grain could be a lifeline for the country’s farmers. The war caused shipping costs to soar to US$160 to $180 per tonne from pre-war levels of $35 to $40 per tonne, said Mykola Gorbachov, president of the Ukrainian Grain Association. Farmers are […] Read more
Lloyd’s insurers prepare to cover Ukrainian grain
Company says it is putting together a plan to cover shipments now that a deal has been reached to resume exports
LONDON, U.K. (Reuters) — Lloyd’s of London insurers and brokers are preparing to provide cover for grain shipments from Ukraine and are likely to announce their plans shortly, the commercial insurance market’s chairman said July 27. Russia and Ukraine signed a deal, brokered by Turkey and the United Nations, to reopen grain and fertilizer exports […] Read more
Price hikes save retail sales
LONDON (Reuters) — Unilever raised its full-year sales guidance after beating first-half underlying sales forecasts as the maker of Dove soap and Knorr stock cubes hiked prices to counter soaring costs. The move lifted its shares on July 26. One of the biggest consumer companies in the world, with more than 400 brands ranging from […] Read more
Global demand drives increase in ADM profit
REUTERS — Global grain trader Archer-Daniels-Midland reported a 74 percent rise in second-quarter profit July 26, benefiting from high demand for grain and tighter supplies following Russia’s invasion of Ukraine. Shares jumped three percent in pre-market trading. Grain supply-chain middlemen like ADM and its peers have seen increased demand for crops they ship around the […] Read more
