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Cargo ship Despina V, carrying Ukrainian grain, is seen in the Black Sea off Kilyos near Istanbul, Turkey on Nov. 2, 2022. (Photo: Reuters/Umit Bektas)
Crops, Markets

Reasons for optimism seen on renewal for Ukraine grain deal

Deal set to roll over on Saturday

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Reuters — A United Nations source on Wednesday said they have reasons to be “cautiously optimistic” on the renewal of a Black Sea grains export agreement, which is set to roll over on Saturday unless there are objections. The U.N.-backed agreement on July 22 allowed grain shipments to resume from certain Ukrainian ports on the
CBOT December 2022 soft red winter wheat (candlesticks) with 20-day moving average (black line), MGEX December 2022 hard red spring wheat (yellow line) and K.C. December 2022 hard red winter wheat (orange line). (Barchart)
Crops, Markets

U.S. grains: Wheat, corn up on reports of Russian missiles hitting Poland

January soybeans also close higher

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Chicago | Reuters — U.S. grain futures rallied on Tuesday as reports that Russian missiles crossed into Poland raised concerns about escalating political tensions, market analysts said. A senior U.S. intelligence official said Russian missiles crossed into Poland, killing two people, the Associated Press reported. The Pentagon said it could not confirm reports that Russian
File photo of a CN locomotive in Chicago. (Photo courtesy CN)
Crops

Third U.S. union rejects national rail contract deal

Two major unions' decisions due next week

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Washington | Reuters — A third U.S. rail union voted on Monday to reject a tentative national contract reached in September, but expects to continue negotiating to reach a deal. The International Brotherhood of Boilermakers (IBB), which represents about 300 U.S. rail employees, rejected the agreement, said the union and the National Carriers’ Conference Committee
Bridge Agri Partners’ Katrime, Man. facility is built around a former Manitoba Pool Elevators site that company divested in 2001 during the formation of Agricore United (now part of Viterra). (BridgeAgriPartners.com)
Crops, Markets

Andersons buys grains broker Bridge Agri Partners

Lethbridge business will keep existing name

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Lethbridge grain marketing and handling firm Bridge Agri Partners has been taken up by U.S. grain and ag input firm The Andersons. Bill Krueger, president of The Andersons’ trade and processing arm, said in a release Nov. 1 it had bought the Prairie company for an undisclosed amount, its goal being “to expand our pet
CBOT February 2023 soybeans with 20-, 50- and 100-day moving averages. (Barchart)
Crops, Markets

U.S. grains: Soy futures up on China COVID curbs, weakening U.S. dollar

Corn market gains boosted by strength in crude oil market

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Chicago | Reuters — Chicago wheat, corn and soybeans rose on Friday, underpinned by strong commodities and equities markets, as well as hopes that China’s easing of COVID-19 restrictions could boost demand. Soybeans bounced on hopes that China’s move to ease some COVID-19 curbs might spur economic activity, potentially boosting demand for goods including soybeans.
U.S. special presidential envoy for climate John Kerry and Agriculture Sectretary Tom Vilsack applaud U.S. President Joe Biden’s speech at the COP27 climate summit at Sharm el-Sheikh, Egypt on Nov. 11, 2022. (Photo: Reuters/Kevin Lamarque)
Weather

Farm climate innovation commitments at COP27 double to US$8 billion

Agriculture could outpace other industries to net zero: Vilsack

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Sharm el-Sheikh, Egypt | Reuters — An initiative led by the United States and the United Arab Emirates to help agriculture adapt to climate change and reduce emissions through innovation has doubled investment commitments to US$8 billion and extended its reach, it said on Friday. The Agriculture Innovation Mission for Climate (AIM for Climate) was
File photo of barley being unloaded at a grain terminal in Ukraine on June 23, 2022. (Photo: Reuters/Igor Tkachenko)
Crops, Markets

Ukrainian farmers turn to U.N.-supplied grain sleeves for storage

'Last year's harvest still hasn't been sold'

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Kyiv | Reuters — On a crisp and sunny November morning, Ukrainian farmers lined up to collect U.N.-supplied grain sleeves to store crops over winter as the country faces a significant shortage of storing capacity caused by Russian shelling. Ukraine has said it may lack up to 15 million tonnes of regular grain storage capacity
CBOT December 2022 corn with 20-, 50- and 100-day moving averages. (Barchart)
Crops, Markets

U.S. grains: Chicago futures slide on profit taking, slumping dollar

Wheat slips following USDA report

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Chicago | Reuters — Chicago corn, wheat and soybean futures all fell on Thursday as investors across the board sought to take profits amid global supply questions, even as the U.S. dollar tumbled on news that U.S consumer prices rose less than expected in October, traders said. The monthly U.S. inflation reading is being closely
(FITTrials.com)
Crops, Markets

Competition Bureau’s call for Manitoba elevator sale rejected

Bureau 'carefully reviewing' Competition Tribunal decision

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A federal antitrust tribunal’s decision may soon make Canadian grain firm Parrish and Heimbecker the uncontested owner of the full set of Louis Dreyfus’ Prairie grain elevators. In a decision dated Oct. 31, the Competition Tribunal — the federal quasi-judicial body with the power of approval over any antitrust actions proposed by the federal Competition

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