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)

Reasons for optimism seen on renewal for Ukraine grain deal

Deal set to roll over on Saturday

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)

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

January soybeans also close higher

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



Zante, a cargo vessel carrying Ukrainian grain, transits Bosphorus, in Istanbul, Turkey in this Nov. 2 file photo.

Russian hypocrisy and the wheat market

Will the Black Sea shipping deal hold or fail?

Wheat prices went for a wild ride during the week of Oct. 31 to Nov. 4 due to Russian machinations over the Black Sea export agreement. During the weekend of Oct. 29 and 30, the Russian Black Sea fleet was apparently attacked at its base at Sevastopol. Russia quickly levelled accusations that Ukraine perpetrated the


A farmer spreads nitrogen in his wheat field in Blecourt, France, in May 2021.

U.S. nitrogen exports jump as Europe scrambles for fertilizer

Limited ability to backfill means there may be future “crisis of availability”

Reuters – American exports of nitrogen fertilizers jumped to a multi-year high this summer after surging natural gas prices in Europe drove up costs of producing the crop nutrient there, making U.S. shipments more competitive. The brisk U.S. sales highlight the far-reaching effect of the war in Ukraine on global food and energy supplies. Russia,

Workers repair the roof of a farm building that was damaged by a mortar, in the village of Malaya Rohan, as Russia's attack on Ukraine continues, in the Kharkiv region, Ukraine, April 9, 2022.

From Ukraine: Driven from his fields

Ukrainian farmer hopes to see his farm liberated from Russian invaders

From time to time, Oleh visits the positions of troops on the front lines of war in east Ukraine. While there, he looks hopefully to the horizon. There, just one mile away, are his fields, shop and grain warehouse now occupied by Russian invaders. I will not write Oleh’s last name, nor will I show



“It’s pretty hard to digest, but I still say Russia needs money. They don’t want to stop any grain shipments that they can…” says one Illinois commodity trader.  Photo: MaxZolotukhin/iStock/Getty Images Plus

CBOT weekly outlook: Russian flip-flop upsets markets, little change after Fed announcement

MarketsFarm – A pair of announcements affected the Chicago Board of Trade by different magnitudes on Nov. 2. Four days after Russian officials said the country was pulling out of an agreement to allow Ukrainian grain shipments on the Black Sea, the Russian government announced on Nov. 2 it changed its mind and will re-enter