Black Sea

Back in the 1980s and 1990s, for Russia to feed its people, they had to purchase a large amount of U.S. grain, particularly wheat.  However, a lot has changed over the past 30 years.   “Russia has emerged over the past few decades to be the dominant global supplier of wheat," noted USDA Outlook chairman Mark Jekanowski.  He added roughly 25% of...

Over the weekend, the United Nations Secretary-General announced an extension of the Black Sea Grain Initiative.  The announcement came at the last minute as the agreement was set to expire.  The Initiative facilitates the safe navigation for the exports of grain and related foodstuffs and fertilizers, including ammonia, from designated Ukrainian seaports.  During ...

There’s reason for optimism, and reason for concern, as wheat farmers across Idaho prepare for another growing season.  Britany Hurst Marchant, Executive Director of the Idaho Wheat Commission said on the positive side, the Gem state has received a lot of snow this water year.   “Our s...

It’s been just a little over a year since Russian tanks rolled into Ukraine and started a war that many thought would only last days or weeks—but has lasted now for 12 months.   "Quite honestly I would not be surprised 12 months from now if we're still talking about it," noted Karl Setzer, Commodity Risk Analyst with AgriVisor.  When the Russian in...

According to a recent analysis by U.S. Wheat Associates, since the highs of 2021, freight prices have dropped to lows not seen since June 2020.  Coupled with a recent break in wheat prices, decreased ocean freight costs have helped turn the tides back in the importers' favor.   ...

According to ERS, Ukraine's corn and wheat exports have almost returned to seasonal-average levels since the summer of 2022.  The change follows the Black Sea Grain Initiative to reopen the Black Sea shipping routes.  Russia's invasion of Ukraine in February 2022 led to elevated security risks and infrastructure damage, causing Ukraine's seaports to be almost completely cut off from March through

When Russia invaded Ukraine on February 24th of this year, ag trade was sent into a tizzy, thanks to not only the anxiety by volatility as well.  USDA chief economist Seth Meyer said the resulting high commodity prices played a part in helping raise U.S. farm i...

Cargill’s CEO said he expects food prices to decline in 2023.  Yahoo said that’s despite tight global crop stockpiles, especially in oilseeds.  David MacLennan, Cargill CEO, said the solution to the food versus fuel debate is to boost global crop commodity production.   “We don’t think i...

The Black Sea Grain Export Deal, due to expire Saturday, was extended for another 120 days, but Reuters said Moscow wants its own demands in the deal to get more fully addressed.  The agreement protects a sea transit corridor and was intended to help alleviate a global food shortage.  Ukraine...

On Thursday, a resumption of grain shipments from Ukrainian Black Sea ports, after Russia rejoined an international agreement allowing safe passage of Ukraine cargo ships.  That announcement came after days of uncertainty after Vladimir Puttin’s government temporarily withdrew from the original agreement.  USDA chief ec...