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CME Grain Futures Under Pressure After Renewal of Black Sea Grain Initiative

The Black Sea Grain Initiative, a deal brokered by the UN and Turkey last summer, was extended for at least 60 days on Saturday, the day it was due to expire.

Following Russia's attack on Ukraine over one year ago, the agreement was first set into motion in July 2022 in order to supply the global marketplace with food and fertilizer.

Both Russia and Ukraine are among the world's top suppliers of arable crops including wheat, corn, and oilseeds. Moreover, Russia is a major supplier of energy and fertilizer to the world markets. The war in Ukraine has limited...

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Mar 20 9:15 AM, UB Newswires

Grain Deal Negotiations Underway Between U.N. Officials and Russian Deputy Foreign Minister 

On Monday, U.N. officials and Russian Deputy Foreign Minister Sergi Vershinin started negotiations on a possible extension of the Black Sea Grain Initiative. 

The Initiative, brokered by the United Nations and Turkey in July 2022, allows for the exports of Ukrainian grain and fertilizer from three of Ukraine's Black Sea ports. Moreover, the deal also ensures that Russian food and fertilizer reach the global marketplace. 

The deal's renewal deadline is rapidly approaching on March 18. 

Ukraine's corn and wheat exports have returned to nearly seasonal-average levels since last summer...


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Mar 13 8:29 AM, UB Newswires

Russian Shelling Forces Blackout at Europe's Largest Nuclear Power Plant

Ukraine’s Zaporizhzhia nuclear power plant has again been targeted by Russian shelling overnight, forcing a blackout mode and cutting out electricity for a portion of Kyiv's civilians. This is the first time the site has lost all power since November 2022.

The Zaporizhzhia plant is Europe’s largest and is under Russian control since 2022. Media outlets report that several civilians have been killed by the overnight missile attacks.

“Currently, the power plant is de-energizised and stays in blackout mode for the sixth time during the occupation," according to a post by state energy company Energoatom...

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Mar 9 8:00 AM, UB Newswires

UN Secretary-General Meets with Zelenskyy in Kyiv to Discuss Grain Deal

UN Secretary-General António Guterres has arrived in Kyiv to discuss the future of the Black Sea Grain Initiative with Ukrainian President Volodymyr Zelenskyy. This is the Secretary-General’s third visit to Ukraine in less than a year. 

The grain deal was launched in Istanbul by the Russian Federation, Turkey, Ukraine, and United Nations in July 2022. The agreement allows for the exports of grain and fertilizer from designated Ukrainian ports to the global marketplace.  

The Black Sea Grain Initiative will expire on March 18 unless all parties involved agree on an extension...


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Mar 9 7:13 AM, UB Newswires

Future of Black Sea Grain Initiative Remains Unclear as Deal Approaches Expiration

The future of the Black Sea Grain Initiative, brokered by the United Nations and Turkey in July 2022, remains unclear as the deal approaches its expiration date. 

The initiative allows for Ukrainian grain shipments and Russian exports of key agricultural commodities amid the ongoing war, which hit its one-year mark one week ago.

Specifically, the Initiative allows for commercial food and fertilizer exports from three Ukrainian ports in the Black Sea—Odesa, Chornomorsk, and Yuzhny/Pivdennyi, according to the United Nations. 

The deal is set to expire...

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Mar 3 8:02 AM, UB Newswires

U.S. Issues Additional Russian Sanctions One Year into Russia-Ukraine War

In the early hours of February 24, 2022, explosions were reported in the Ukrainian cities of Kyiv, Kharkiv, and Odesa, sending shockwaves throughout the global marketplace.

One year into Russia's war on Ukraine has left nearly 18 million people in need of humanitarian assistance as civilians grapple with water and electricity shortages and widespread property damage. 

According to the latest United Nations Human Rights Office (OHCHR) data, at least 8,000 non-combatants have been killed along with nearly 13,300 injured since the start of the war. The actual number...

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Feb 24 8:17 AM, UB Newswires

Oil Futures Gain Following Russia's Voluntary Reduction in Oil Production Next Month 

In early action Friday, the April Brent crude oil futures contract is up by nearly 3% from Thursday’s close at $85.74 per barrel. The March West Texas Intermediate (WTI) futures contract was last trading at $79.11 per barrel, up 1.2% from yesterday's settlement price. 

Traders are digesting Russia’s recent announcement that it will voluntarily reduce its oil production by 500,000 barrels per day starting next month. The move comes in response to the recent Western price limits and bans on Moscow’s gasoline and oil products due to the war in Ukraine. 

Russia believes that the price ceiling mechanism for the sale of Russian oil and oil products is an interference in market relations and a continuation of the destructive energy policy of the countries of the collective West,” according to a statement published on the government website. 

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Feb 10 9:31 AM, UB Newswires

Ukraine's Coal and Gas Reserves Enough to Last Through Winter, Says Prime Minister

As Russia’s war on Ukraine approaches its one-year mark, the estimated fallout to human life and property continues its devastating rise.

According to the United Nations High Commissioner for Refugees, the number of refugees from Ukraine recorded across Europe has swelled to nearly eight million individuals as of January 24, 2023. Reuters estimates the number of deaths at 42,295 people, as of the latest update, with 15,000 people or more thought to be missing. 

Along with mass casualties and the displacement of millions, the war has resulted in the massive destruction of buildings and property, including Ukraine's energy infrastructure...

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Jan 26 7:50 AM, UB Newswires

U.S. Natural Gas Wholesale Prices Expected to Decline This Year

The U.S. Energy Information Administration (EIA) is forecasting lower wholesale U.S. natural prices this year and into 2024, according to its January Short-Term Energy Outlook (STEO) released Wednesday. 

The EIA is anticipating natural gas production in the United States to increase by 2% this year and expects the Henry Hub price, which is the U.S. benchmark, to average $4.90 per mission British thermal units (MMBtu) in 2023. If accurate, this would be more than $1.50/MMBtu lower than the 2022 average. 

In the first quarter of 2023, the Henry Hub price could average close to $5.00/MMBtu. This is due to increased demand during the winter along with liquefied natural gas (LNG) exports at near-capacity volumes, explained the EIA...

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Jan 19 8:00 AM, UB Newswires

How 10 of the Most-Read Stories of 2022 Capture the Year in Food

Urner Barry, the leading provider of food industry market intelligence for over 160 years, reviews the top stories of 2022—a year which featured countless disruptions and global shocks to supply and demand.

Featuring coverage of the Russia-Ukraine war; high path avian influenza, inflation, trade, and more. Read the most popular stories  published exclusively by Urner Barry in the past year...

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Dec 29 8:05 AM, Urner Barry

This Week in Retail: Meat and Poultry Highlights of 2022

2022 has been another challenging year for retailers and participants throughout the supply chain, who have had to contend with the effects of drought, disease pressure, persistent inflation, and logistical issues—just to name a few.

In the face of rising wholesale prices, retail prices for several popular protein options including fresh ground beef, boneless skinless chicken breast, and bacon have hit fresh record highs this year, raising concerns among grocers over slowed consumer purchasing.

As we prepare to ring in the new year, a tight supply situation and...

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Dec 29 8:00 AM, UB Newswires

No Extension Announced Yet for Black Sea Grain Initiative 

On Friday, officials from Russia and the United Nations convened in Switzerland to try to work out an extension of the Black Sea Grain Initiative, which is set to expire on November 19th. 

The agreement, which was brokered by the U.N. and Turkey over the summer, allows for Ukrainian grain shipments and Russian exports of key agricultural commodities including fertilizer amid the ongoing war.

Russia briefly pulled out of the deal two weeks ago due to an alleged Ukrainian drone attack on its Black Sea fleet in Crimea. 

Russian authorities have not yet decided on whether to extend the agreement. An extension could ease concerns about a global food shortage, particularly for countries in Africa, the Middle East, and Asia that rely heavily on grains, vegetable oils, and other goods from both Russia and Ukraine...

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Nov 15 8:37 AM, UB Newswires

Kyiv Braces for Potential Winter Without Energy as Russian Shelling Continues

Kyiv, the capital of Ukraine and home to nearly 3 million people, is bracing for a brutal winter ahead as Russia aims its attacks on Ukraine's power plants and water infrastructure.

Kyiv could be left without energy, water, or heat if Russia continues its shelling on Ukraine. In an attempt to conserve energy, Ukraine's grid operator has announced rolling blackouts in Kyiv and seven nearby regions.

“We are doing everything to avoid this,'' the Mayor of Kyiv Vitali Klitschko told state media. "But let’s be frank, our enemies are doing everything for the city to be without heat, without electricity, without water supply, in general, so we all die. And the future of the country and the future of each of us depends on how prepared we are for different situations.”...

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Nov 7 10:13 AM, UB Newswires

Wheat Futures Plummet as Russia Rejoins Black Sea Grain Initiative

Russia has rejoined the Black Sea Grain Initiative just days after announcing its withdrawal from the deal on Saturday.

Over the weekend, Russia declared that it would pull out of the initiative following an alleged Ukrainian drone attack on its Black Sea fleet. The news fueled a rally in the grains futures markets, with wheat leading the sharp advances.  

Ukraine is one of the world’s top exporters of grain and other agricultural products. Russia is a key provider of fuel and energy. In 2020, Ukraine was the fifth largest exporter of wheat, according to the Observatory of Economic Complexity (OEC).  

Ukrainian grain shipments will resume Wednesday at noon, easing some concerns about global food insecurity—particularly for countries that are heavily reliant on agricultural imports to meet their needs...


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Nov 2 8:20 AM, UB Newswires

CME Grain Futures Climb Following Russia's Suspension of Black Sea Grain Deal 

On Saturday, Russia’s Ministry of Defense announced that it would leave the Black Sea Grain Initiative for an "undetermined period" of time.

Russia claimed that Ukraine launched a drone attack on Russia’s fleet off the coast of Crimea early Saturday. Ukraine has denied these allegations, with Ukrainian Foreign Minister Dmytro Kuleba tweeting “[w]e have warned of Russia’s plans to ruin the Black Sea Grain Initiative. I call on all states to demand Russia to stop its hunger games and recommit to its obligations.”

The Black Sea Grain Initiative was brokered by Turkey and the United Nations in July of this year. The deal was aimed at combating a potential global food shortage caused by significant disruptions to agricultural shipments from the Black Sea. Both Russia and Ukraine are significant producers and exporters of key commodities including grain and fertilizers...

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Oct 31 10:15 AM, UB Newswires

Maersk’s Terminals Business Exits Russia with Sale of Russian Operator Global Ports

A.P. Moller-Maersk (Maersk)-owned APM Terminals (APMT) will divest its shares of Russian container terminal operator Global Ports Investments (GPI) to a long-term partner Delo Group.

The move follows Maersk’s decision to discontinue activities in Russia following the country’s invasion of Ukraine earlier in the year.

Specifically, APMT has now entered into a binding agreement, subject to regulatory approvals, to divest its entire 30.75% shareholding in GPI to APMT’s long-standing joint venture partner Delo Group who also owns 30.75% of the shares in GPI...

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Aug 30 10:55 AM, SeafoodNews

Three More Ships Carrying Ukrainian Grain Depart Port of Chornomorsk

On Friday, three additional ships carrying Ukrainian grain left the port of Chornomorsk, which is located on the north-western shore of the Black Sea.  

The first shipment of Ukrainian grain since Russia's invasion began in February departed Ukraine’s Black Sea port of Odesa on Monday under the agreement reached by Ukraine and Russia in late July. The ship arrived in Istanbul’s waters Tuesday evening and underwent a joint civilian inspection, said the Joint Coordination Centre...

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Aug 5 7:33 AM, UB Newswires

CME Grain Futures Decline After First Ship Carrying Ukrainian Grain Departs Odesa Port

For the first time in months, a commercial ship carrying Ukrainian grain left the Black Sea port of Odesa early Monday local time.

Ukrainian exports from the Black Sea region have been blocked by Russian forces since the invasion began in February.

On July 22 Ukraine and Russia signed a deal, brokered by Turkey and the United Nations, to resume Ukrainian grain exports in an effort to ensure the global food supply. The agreement also frees up Russian grain and fertilizer...

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Aug 1 9:15 AM, UB Newswires

Grain Export Deal in Question Following Russian Missile Strike on Odesa Port 

On Friday, Ukraine and Russia signed a deal in Istanbul to allow the resumption of Ukrainian grain exports via the Black Sea Ports.

Access to Ukraine's maritime ports had been blocked by Russian forces since the military invasion began in February.

The agreement was brokered by Turkey and the United Nations and is scheduled to be implemented in the next few weeks. Under the deal, up to 5 million metric tonnes of grain per month will be exported by shipping companies through safe passageways in Ukrainian waters. 

Millions of tons of grain exports have been stalled in Ukraine due to the war, pushing global food prices higher...

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Jul 25 9:45 AM, UB Newswires

CME Grain Futures React to Potential Russia, Ukraine Deal on Grain Exports

Grain futures have been losing ground in the latest three weeks and counting, offering some reprieve for livestock producers who have been contending with high feed costs.

Since June 17th, the December corn futures contract shaved off over $1.50 per bushel, while the most actively traded soybean contract declined by over $2.00 per bushel during the same time period.

The grain complex was under pressure again on Tuesday as traders eyed a potential deal between Ukraine and Russia to resume grain exports through Ukraine’s Black Sea ports...

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Jul 20 9:44 AM, UB Newswires

G7 Commits $5 bln to Tackling Global Food Insecurity - U.S. Official

The Group of Seven rich democracies will commit up to $5 billion to improve global food security, a senior U.S. official said, as the group responds to worries in developing nations about the threat of hunger triggered by war in Ukraine.

On the final day of the G7 summit in Germany, the official said that the United States would provide over half of that sum, which would go to efforts to fight hunger in 47 countries and to fund regional organisations.

The G7 is attempting to rally...

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Jun 29 10:57 AM, General News

G7 Leaders Discuss Potential Price Cap on Russian Oil Exports

G7 leaders gathered at the Bavarian Alps on Sunday for a three-day summit to discuss pressing issues including the ongoing Russia-Ukraine war. The seven G7 countries are Canada, France, Germany, Italy, Japan, the UK, and the US. 

Traders are closely eyeing any developments from the meeting with talks scheduled to resume today. G7 leaders are considering a cap on the price of Russian oil and pipeline gas exports in an effort to restrict Russia’s revenue...

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Jun 27 9:45 AM, UB Newswires

Record Gas Prices Heighten Supply Chain Concerns 

The national average for regular gasoline hit a fresh record high at $4.96 a gallon on Wednesday, according to AAA. This is up 28 cents in the latest week and nearly $1.90 a gallon higher than the year-ago average. 

The national average has been steadily climbing in the latest month with 14 states now recording their average gas price at $5 a gallon or more. 

Diesel prices are also forging new records and surged to $5.72 a gallon today based on the latest AAA data. This is 17 cents higher than this week last year and is heightening concerns for participants throughout the supply chain.

Diesel is an essential input for the production and transportation of a variety of goods. For instance, higher diesel costs are raising the trucking costs of livestock to the processing plants, intensifying inflationary pressures on consumer prices...

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Jun 8 8:28 AM, UB Newswires

Retailers Say New Biofuel Levels Will Drive Up Food Prices

The National Retail Federation today said biodiesel levels set by the Environmental Protection Agency for this year are too high and will drive up inflation for already high food prices, especially processed foods that rely on food oils from crops like soybeans.

“For more than a year, we’ve alerted the EPA and the administration about the shortage of food oils, which is causing significant disruptions throughout the supply chain and raising food costs for consumers,” said David French, NRF’s senior vice president for government relations and executive director of...

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Jun 8 8:22 AM, General News

NRF Says Economy ‘Being Rebalanced’ but ‘Extreme Cooling Off’ Seems Unlikely

The Federal Reserve faces “a tricky job” in addressing inflation but continuing growth in employment, wages and consumer spending make it unlikely the effort will backfire into a major setback for the economy, National Retail Federation Chief Economist Jack Kleinhenz said today.

“With changes underway that focus on taming inflation without splintering the economy, the nation’s economic system is in the process of being rebalanced in ways that are testing its resilience,” Kleinhenz said. “This is an extraordinary period with unprecedented factors that include inflation at a..."

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Jun 2 8:00 AM, General News

Rich Nelson from Allendale, Inc Weighs in on the Grain Situation

Nearby CBOT corn futures slid to a six-week floor on Tuesday following USDA’s latest Crop Progress report, which indicated that corn plantings were up to 72% complete. The latest figure was below the 5-year average but an impressive catch-up over the past few weeks. 

Despite the progress, the 72% of corn planted as of Sunday, May 22, represented the second slowest pace for that week in over 25 years. On Wednesday, corn futures closed mostly lower but recovered some of their earlier declines. The old crop July contract managed to hold onto a ½ cent gain and ended at $7.72 ¼ a bushel.

The ongoing Russia-Ukraine war has impacted the old-crop outlook due to stalled grain supplies from Ukraine’s Black Sea ports. The trade disruptions have restricted the global supply of grain and energy, exerting additional upward pressure on prices...


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May 27 8:00 AM, UB Newswires

Latest AgriBriefing Webinar: Many Markets Nervous as No End in Sight for Rising Raw Materials Prices

Russia’s war against Ukraine and subsequent blockade of Ukraine’s grain exports by sea have sparked an unprecedented global food crisis. The disruption has been further exacerbated by hot weather and droughts that have hurt crops in other parts of the world, sending prices of some grains to record highs and threatening food security in parts of the developing world too.  

And if we factor in challenging growing seasons for crops, lockdowns in major Chinese cities, bird flu in the US, and other pressure points for import, export, and production, the concerns over agricultural markets and global demand are unlikely to relent.   

Experts from AgriBriefing's brands –  Stratégie Grains, Feedinfo, and Urner Barry – came together in a live webinar entitled ‘Rising Raw Materials Prices: Why? How? What’s Next?’ on 24 May to provide their latest overviews of...

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May 25 9:00 AM, UB Newswires

McDonald’s Agrees to Sell Russian Assets to Existing Licensee

Days after McDonald’s announced it would exit the Russian market and sell its entire portfolio, the company reached a sale and purchase agreement with its existing licensee Alexander Govor.

Govor will acquire the entire Russian McDonald’s restaurant portfolio and operate the restaurants under a new brand. Govor has served as a licensee since 2015 and has operated 25 restaurants in Siberia.

McDonald’s said the agreement remains subject to certain conditions, including regulatory approval, with closing expected to occur in the coming weeks...

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May 20 9:48 AM, General News

McDonald’s "de-Arching" from Russia, Plans to Sell Entire Portfolio

McDonald’s announced it will officially exit the Russian market and has begun a process to sell its entire portfolio in the country.

Back in March, McDonald’s shuttered all of its Russian locations following Russia’s invasion of Ukraine with over 800 locations closed, and all operations were paused.

“The humanitarian crisis caused by the war in Ukraine, and the precipitating unpredictable operating environment, have led McDonald’s to conclude that continued ownership of the business in Russia is no longer tenable, nor is it consistent with McDonald’s values,” the company...

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May 17 8:00 AM, General News

WASDE Data Shows Lower Projected Corn Crop and Lower U.S. Exports

In the latest World Agricultural Supply and Demand Estimates (WASDE) report, the USDA's outlook for U.S. feed-grain is for lower production, domestic use, exports and ending stocks, and higher prices. The corn crop is projected at 14.5 billion bushels, which is down 4.3% from last year.  

In a special note, USDA wrote "Russia’s recent military invasion of Ukraine significantly increased the uncertainty of agricultural supply and demand conditions in the region and globally. The May WASDE represents an ongoing assessment of the short-term impacts as a result of this action". 

Total U.S. corn use for the 2022/23 year is expected to decline 2.5% from a year ago due to lower exports and domestic use. Corn used to produce ethanol is unchanged from last year, reflecting expectations of steady U.S. motor gasoline consumption

U.S. corn exports are down 4% in 2022/23 due to lower supplies and strong domestic demand. Despite record exports projected for Argentina and Brazil, a 550-million bushel drop in exports for Ukraine is the main cause for a decline in world trade...

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May 13 8:24 AM, UB Newswires

Diesel Prices Climb to Fresh Record High

According to data from AAA, diesel prices surged to a fresh record high this week at $5.55 per gallon. This is up about 13 cents from the week prior and a whopping 78% higher than a year ago.

Elevated diesel prices are intensifying inflationary pressures and raising the costs of production for a variety of industries including farming and manufacturing. 

The U.S. Bureau of Labor Statistics reported that inflation climbed to 8.3% in April. This was down slightly from the month prior but still a near 40-decade high. U.S. stocks were mixed following the latest CPI data...

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May 11 9:29 AM, UB Newswires

Foodservice Update Q2 2022: Foodservice in Troubled Times - Impact of the War in Ukraine

This is a special edition focusing on the impact that the war in Ukraine may have on the foodservice industry in the immediate and the longer term. Food and energy prices were already rising before the war began, and this conflict has amplified the trend, making clear that high prices will not revert any time soon. Also, foreign brands operating in Russia are exposed to reputational risks, which might have consequences in long term strategies.

Report summary
The consequences will differ, depending on the market and...

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May 10 9:04 AM, General News

Russia Given Authority to Halt Exports Under Executive Order Signed by Putin

On Tuesday, Russian President Vladimir Putin signed an Executive Order allowing Russia to halt exports and eliminate existing contracts for individuals on a forthcoming sanctions list.

Putin has ordered the Russian government to compile a list of sanctions against foreign individuals and companies over the next 10 days. 

The Executive Order was signed "to protect the national interests of the Russian Federation in response to unfriendly actions, which contradict international law, undertaken by the U.S., and joined by other foreign states and international organizations," according to a statement on Russia's presidential... 

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May 4 9:45 AM, UB Newswires

NRF Says Economy Should Continue ‘Bustling Forward’ as Fed Works to Bring Inflation Under Control

The economy’s fast-paced growth could slow somewhat as the Federal Reserve tries to bring inflation under control in the next few months, but consumers are likely to keep on shopping as lower inflation eases uncertainty, National Retail Federation Chief Economist Jack Kleinhenz said today.

“The Fed’s tightening has kicked off a new cycle of adjustment and the outlook for interest rates has consequences for consumers and businesses alike,” Kleinhenz said. “There is a growing list of uncertainties, and the risks are mounting. But underlying..."

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May 4 8:36 AM, General News

Ukraine Formally Closes Four Seaports Under Russian Control 

In a statement released on May 2, Ukraine’s Agriculture Ministry said the country has closed the four seaports of Berdyansk, Mariupol, Skadovsk, and Kherson "until Ukraine regains control” over them.

The ministry explained that the closures have been caused by the “inability to service ships and passengers, cargo, transport, and other related economic activities so as to ensure an adequate level of shipping safety and compliance with international treaties”.

Following Russia's invasion of Ukraine in late February, Russian forces had captured or blockaded some ports, forcing all Ukrakina seaports to indefinitely halt their activities. 

Ukraine is a major exporter of agricultural commodities including grains and vegetable oils. Prior to the conflict, most of Ukraine’s exports were shipped via sea but have since been rerouted to export by train or by its Danube river ports.

On Monday, Ukrainian President Volodymyr Zelenskyy warned that Ukraine could lose tens of millions of tons of grain due to the Russian-controlled Black Sea shipping lanes...

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May 2 10:00 AM, UB Newswires

Concerns Mount Over Global Cooking Oil Supply As Russia-Ukraine War Continues 

Soybean futures rallied during overnight trading as traders assessed the tight global supply of cooking oils spurred by the ripple effects of the ongoing Russia-Ukraine war.

Combined, Russia and Ukraine account for about 80% of the world’s sunflower oil exports. Russia’s invasion of Ukraine has forced buyers to find alternatives to sunflower oil shipments, which have largely been stalled in Black Sea ports.

Port closures and shipping disruptions in the Black Sea region have elevated the prices of competing vegetable oils like palm oil—a common ingredient used in food, cosmetics, and cooking.

Indonesia, the world’s largest exporter of palm oil, announced last week that it will ban shipments of the product beginning April 28 in an effort to curb rising domestic prices...


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Apr 27 9:00 AM, UB Newswires

CBOT Corn Prices Climb to a Nearly Decade High

CBOT corn futures roared to a nearly decade-high earlier this week as traders assessed ongoing supply concerns and global disruptions precipitated by the Russia-Ukraine war.

On Monday, July corn futures eclipsed $8 per bushel, the highest level since September 2012. July corn was trading at around $6 per bushel towards the beginning of 2022.  

The ongoing conflict in Ukraine has exacerbated upward price pressure for corn, along with many other agricultural commodities. Ukraine is a major exporter of items including wheat and barley. Russia’s largest exports include oil and...

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Apr 20 11:00 AM, UB Newswires

Finland and Sweden Consider Joining NATO as Russia-Ukraine War Continues

Finland and Sweden are considering joining the North Atlantic Treaty Organization (NATO) amid Russia’s ongoing invasion of Ukraine, a move which the Kremlin has cautioned “will not lead to more stability on the European continent,” according to Kremlin spokesperson Dmitry Peskov.

US officials expect Finland’s application as early as June while Sweden could follow. If approved, the Western alliance would expand to 32 members.

NATO is an intergovernmental military alliance formed in 1949 by the United States and Canada along with several Western European nations including France and Belgium. Its original goal was to provide post-war security against the Soviet Union. 

In response, Soviet Russia formed the Warsaw Pact—a military alliance of eastern European communist countries. The Warsaw Pact was disbanded following the dissolution of the Soviet Union in 1991. Subsequently, several former Warsaw Pact countries including Hungary and the Czech Republic joined NATO...

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Apr 11 10:03 AM, UB Newswires

Chicago Grain Traders Await USDA's WASDE, Crop Production Reports

Chicago grain futures closed mixed on Thursday. May corn rounded out yesterday's session 1 ½ cents higher at $7.57 ¾ a bushel while May soybeans were up 26 cents to $16.45 ½ cents a bushel.

Front-month Chicago wheat slipped by 18 ¼ cents to $10.20 a bushel, pressured in part by moisture in areas of the southern wheat-producing states.

According to the USDA weather desk, recent rain from northeastern Texas eastward has eased short-term drought, although drought remains entrenched over the southern and western portions of the region.

The USDA indicates that about 46% of the nation's spring wheat production is currently located within an area experiencing drought. 

Grain prices remain largely supported by Russia's ongoing invasion of Ukraine, which has spurred concerns about global supplies amid stalled Ukrainian exports of key agricultural commodities including wheat, corn, and sunflower oil...

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Apr 8 10:15 AM, UB Newswires

U.S. and Allies to Announce Additional Sanctions on Russia

The United States is expected to announce new sanctions on Russia today in coordination with the G7 and the EU over Russia’s ongoing invasion of Ukraine.

The package will ban new investments in Russia, enhance restrictions on financial institutions and state-owned enterprises in Russia, and sanction Russian government officials along with their family members.

Ukrainian President Volodymyr Zelenskyy has accused the Russians of war crimes. Images of civilian casualties on streets and in mass graves have emerged from the Ukrainian town of Bucha, along with other cities.

The number of refugees fleeing from Ukraine has swelled to over 4 million people since February 24, according to the United Nations High Commissioner for Refugees...

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Apr 7 8:00 AM, UB Newswires

The Russia-Ukraine War’s Impact on Global Fertilizer Markets

Higher fertilizer prices and/or a shortage of fertilizer supply resulting from the war in Ukraine will not have an immediate impact on food prices and/or food production. Currently, the fertilizer market in the northern hemisphere is relatively quiet. All transoceanic flows for the upcoming northern hemisphere spring season have already taken place, and movements are now primarily at the local level: from the import ports and/or domestic production locations to farm fields.

The first crop-growing regions to be ‘at risk’ are India and Latin America...

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Apr 6 9:09 AM, General News

Poultry Quarterly Q2 2022: Strong Market Conditions Continue, Despite Impact of War in Ukraine

Global poultry demand and trade will remain strong this year. The industry, however, will face challenges related to historic high cost inflation and logistic disruptions, which will especially impact low income countries.

Report summary
In most regions, supply is relatively tight and prices are strong. The war in Ukraine has led to an increase of 20% to 40% in global grain prices, and the poultry industry will be challenged to pass on all of these higher costs to consumers. This will likely be possible in developed...

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Apr 6 8:27 AM, General News

Impact of the Ukraine-Russia War on the Meat and Livestock Value Chain

Last week, National Pork Board hosted a Checkoff-funded webinar – The Ukraine-Russia War and the Meat Livestock Value Chain – to provide pork producers with an analysis of the current situation. Panelists included:

- Rupert Claxton, Gira
- Joe Kerns, Partners for Production Agriculture
- Dr. Steve Meyer, Partners for Production Agriculture

Impact of War Has Market Consequences Worldwide
Rupert Claxton shared the global economic impact of the Ukraine-Russia War on energy, fertilizer, feed and the livestock markets.


Russia accounts for 13% of globally traded fertilizer value, producing...

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Apr 5 8:23 AM, General News

NRF Chief Economist Says Economy Has ‘Strong Momentum’ Despite Challenges From Inflation and Ukraine

Top challenges have shifted from COVID-19 to inflation and the war in Ukraine, but the U.S. economy will continue to face uncertainties in the year ahead, National Retail Federation Chief Economist Jack Kleinhenz said today.

“While the public health situation has greatly improved, the impact of the pandemic continues to spread,” Kleinhenz said. “That ripple has extended into 2022 and includes a disproportionate impact from inflation reaching a 40-year high brought about by strong consumer demand interacting with restricted supply...”

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Apr 4 9:00 AM, General News

Poland Announces Steps to Stop Russian Oil Imports by End of Year

On Wednesday, Poland announced steps to halt all Russian oil imports by the end of 2022. This follows Poland’s broadcast on Tuesday that it was banning imports of Russian coal in response to Russia’s invasion of Ukraine.

According to Piotr Lewandowski, the president of the Institute for Structural Research in Warsaw, Russian coal accounts for 13% of the fuel used each year. Prime Minister Mateusz Morawiecki indicated that Poland has already reduced its dependence on Russian oil. 

Amid Russia’s continued attacks on Ukraine, powers including the United States and the EU have imposed various economic sanctions on Russia in an effort to restrict Moscow's economic resources. Among them include a U.S. ban on imports of Russian oil, natural gas, and coal...

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Mar 31 8:00 AM, UB Newswires

Peace Talks Between Russia and Ukraine Resume in Turkey

Russian and Ukrainian delegations resumed in-person peace talks Tuesday in Istanbul, Turkey as the conflict entered its 35th day today.

The ongoing talks in Turkey between Ukraine and Russia are aimed at achieving a ceasefire. Ukraine has proposed to adopt a neutral status—meaning it would not join military alliances or host troops of other countries on its territory—in exchange for security guarantees.

Turkey is a member of the North Atlantic Treaty Organization (NATO) and has maritime borders with Ukraine and Russia. As a result, Turkey has a large hand in the Black Sea region, which is a major hub for crucial exports including grains and crude oil.

Turkey has not indicated any intentions to join the Western sanctions against Russia. Moreover, Turkey has not shuttered its airspace to Russia...

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Mar 30 8:50 AM, UB Newswires

The Russia-Ukraine Conflict: What it Means for Agriculture 

As the premier provider of pricing, analysis and news intelligence for agricultural commodities markets, AgriBriefing has prepared this special report with contributions from its intelligence services Stratégie Grains, Feedinfo and Urner Barry, to provide insight into how this conflict is impacting the entire food supply chain.

This report features perspective on the grains, oilseeds and biofuels markets via Stratégie Grains, the feed additives and animal nutrition sector via Feedinfo, and the protein industry via Urner Barry.

Click HERE to view the full PDF report. 

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Mar 29 8:00 AM, Urner Barry

Oil Prices Soften as Shanghai Enters First Phase of Lockdown 

On Monday, Shanghai began its two-phase citywide lockdown. The city, home to about 26 million people, is battling its worst coronavirus outbreak in over two years. 

Shanghai is a key manufacturing and financial center and will remain partially open under the staggered lockdown.

The first phase will include Shanghai’s financial district and nearby areas, which will be locked down today through Friday while mass testing is implemented. In the second phase, the western side of Shanghai is scheduled to go into a five-day lockdown starting on Friday. 

Oil prices have declined on concerns over weakened Chinese demand due to the recent lockdown measures. Brent crude futures, the international benchmark for oil prices, was down by 5% to $111.40 a barrel early Monday. West Texas Intermediate futures dipped by nearly 6% to under $108.00 a barrel.

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Mar 29 8:00 AM, UB Newswires

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Foodmarket, a specialized media offering from Urner Barry, is the premier source of market news for the food industry.