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Grain storage at a Russian seaport. (Pridannikov/iStock/Getty Images)
Crops, Markets

Moscow retaliates against sanctions with export bans

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Reuters — Russia sought on Thursday to retaliate against Western sanctions imposed over its invasion of Ukraine by banning exports of certain goods and agricultural commodities. Exporting telecom, medical, auto, agricultural, electrical and tech equipment, as well as some forestry products, will be banned until the end of 2022. “These measures are a logical response
CBOT May 2022 wheat (candlesticks) with MGEX May 2022 spring wheat (yellow line) and K.C. May 2022 wheat (orange line). (Barchart)
Crops, Markets

U.S. grains: Wheat futures down off rally

Corn firm, soybeans strong

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Chicago | Reuters — U.S. wheat futures fell Tuesday, snapping a six-session winning streak, as the market wrestled with supply upheaval caused by Russia’s invasion of fellow grain exporter Ukraine. Wheat prices hit the downside of their daily trading limits during the session but closed well above those lows after Interfax news agency said Russian
Bread is baked at Erbil in northern Iraq in March 2003. (Photo courtesy United Nations Oil-for-Food Program, www.un.org/Depts/oip/)
Crops, Markets

Iraq to create strategic wheat reserve

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Reuters — Iraq will allocate US$100 million to urgently purchase wheat and create a strategic reserve by importing three million tons of the grain, the commerce minister said in a statement on Monday. “The ministry has a plan to achieve food security for citizens and to address the global rise in food prices due to
A sunflower crop north of St. Adolphe, Man. on Sept. 19, 2021. (Dave Bedard photo)
Crops

Sunflower market seeing broad strength

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MarketsFarm — Sunflower seed has found itself caught up with the general strength seen in most agricultural markets, with the Russian invasion of Ukraine adding another layer of uncertainty to the market as the two countries are both major world producers. “We believe sunflowers are a very attractive option going into 2022,” said Robert Deraas,
CBOT May 2022 wheat (candlesticks) with MGEX May 2022 wheat (orange O/H/L/C) and K.C. May 2022 wheat (black line). (Barchart)
Crops, Markets

U.S. grains: Chicago wheat limit up to 14-year peak

Soyoil sets record on Russia-Ukraine crisis

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Chicago | Reuters — Chicago Board of Trade wheat futures soared by the daily limit to their highest level in almost 14 years on Tuesday as traders feared prolonged disruptions to global supplies following Russia’s invasion of fellow grain exporter Ukraine. Soyoil futures set an all-time high on worries over vegetable oil exports from the
EU flags in front of the headquarters of the European Commission in Brussels. (Jorisvo/iStock/Getty Images)
Markets

EU predicts pain for farmers, consumers from Ukraine crisis

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Brussels | Reuters — Russia’s invasion of Ukraine and EU sanctions on Moscow will prove painful for farmers, consumers, fertilizer makers and exporters of farm products, the European Commission warned on Monday. Michael Scannell, deputy director-general of the Commission’s agriculture division, said grain buyers should brace for higher prices given that Russia and Ukraine made

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