Bloomberg writers Elizabeth Elkin and Megan Durisin reported yesterday that, “Ukrainian grain flows are pushing down global prices as the newly opened crop-export corridor shows initial success.”
Farm Policy News
Emergency Water Cuts Announced for Colorado River Basin States, Farmers Impacted
Tony Briscoe reported on the front page of Wednesday’s Los Angeles Times that, “After Colorado River Basin states failed to meet a deadline for emergency drought reductions Tuesday, the U.S. Bureau of Reclamation announced new emergency water cuts for Arizona, Nevada and Mexico as the nation’s two largest reservoirs decline to perilously low levels.”
U.S. to Contribute $68 Million to World Food Program to Buy Ukrainian Wheat
William Mauldin and Jared Malsin reported in today’s Wall Street Journal that, “The U.S. Agency for International Development is spending more than $68 million to purchase and ship Ukrainian grain in the largest such export deal since Russia’s invasion this year and the start of a July agreement to allow for renewed shipments from Ukraine’s Black Sea ports.”
Drought and Hot Temperatures Negatively Impact European Union Grain Production
In its monthly World Agricultural Production report Friday, the USDA’s Foreign Agricultural Service (FAS) indicated that, “European Union (EU) (MY) 2022/23 corn production is forecast at 60.0 million metric tons (mmt), down 12 percent from last month, 15 percent below last year’s crop, and 10 percent below the 5- year average.”
Black Sea Export Deal Shows Early Progress, But Risks Remain
Jared Malsin reported in today’s Wall Street Journal that, “An international agreement to restore Ukraine’s Black Sea grain exports is showing early progress, with 18 ships moving to and from ports in Odessa nearly six months after Russia’s invasion bottled up a chunk of the world’s agricultural products.”
Federal Reserve Ag Credit Surveys- 2022 Second Quarter, Farmland Values Continued to Rise
On Thursday, the Federal Reserve Banks of Chicago, Kansas City and Minneapolis released updates regarding farm income, farmland values and agricultural credit conditions from the second quarter of 2022.
U.S. Food Prices Climb Most Since 1979
Don Lee reported on the front page of today’s Los Angeles Times that, “After months of steadily climbing to a 40-year high, the pace of inflation slowed notably in July as gas prices fell sharply and Americans got relief on the cost of clothing, used cars and some other necessities.”
Cautious Optimism on Ukraine Export Deal, But Relief For Importing Countries Won’t Be Immediate
Nabih Bulos reported on the front page of today’s Los Angeles Times that, “Russia’s invasion of Ukraine upended the workings of what before the war was the world’s fourth-largest grain exporter.”
Ten Ships Have Sailed From Ukraine Under Black Sea Export Deal, While France Endures Record Drought
New York Times writer Emma Bubola reported yesterday that, “The biggest caravan of ships carrying grain and other agricultural products since the beginning of the Russian invasion has sailed from Ukrainian ports on Sunday, heading to Europe, Asia and the Middle East through the mined waters of the Black Sea.”
World Food Prices Post Sharp Decline in July, as Three More Ships Depart Ukraine Under Black Sea Export Deal
Bloomberg writer Aine Quinn reported today that, “Global food prices fell the most since 2008 after concerns over supplies of grains and vegetable oils eased as Ukraine moved toward restarting exports.”
First Ship With Ukraine Grain Cleared- Sails to Lebanon, as Farmers Continue Reaping Crops in War Zone
Financial Times writers Laura Pitel and Felicia Schwartz reported yesterday that, “The first grain ship to set sail from Ukraine in months was cleared to embark on the final leg of its journey after passing an inspection by a team of international monitors in Turkish waters.”
“Months” Before Ukraine Grain Exports Reach Prewar Levels and Backlog of Grain in Storage Cleared
Financial Times writers Mehul Srivastava, Laura Pitel, Harry Dempsey and Emiko Terazono reported yesterday that, “Ukraine’s infrastructure minister has warned it will take months before grain exports from Odesa and neighbouring ports reach prewar levels and alleviate the global food crisis despite the relaxation of a Russian blockade in the Black Sea.”
Ukraine Grain Shipped, But Global Hunger Still Looms
Dalton Bennett and Kareem Fahim reported on the front page of today’s Washington Post that, “The first ship carrying grain departed a Ukrainian port early Monday under a United Nations-brokered deal to ease a global food crisis sparked by the Russian invasion of Ukraine.”
Under Export Deal, First Ship Carrying Grain Leaves Ukrainian Port of Odesa For Lebanon
Reuters writer Natalia Zinets reported today that, “A ship carrying grain left the Ukrainian port of Odesa for Lebanon on Monday under a safe passage agreement, Ukrainian and Turkish officials said, the first departure since the Russian invasion blocked shipping through the Black Sea five months ago.”
Ukraine Ready to Start Shipping Grain from Black Sea Ports, UN Hopeful to Begin Soon
Reuters writer Michelle Nichols reported yesterday that, “U.N. aid chief Martin Griffiths said on Thursday he was hopeful that the first shipment of grain from a Ukrainian Black Sea port could take place as early as Friday, but ‘crucial’ details for the safe passage of vessels were still being worked out.”
Grain Deal Control Center Launches to Monitor Exports, As Obstacles to the Agreement Linger
Bloomberg writers Megan Durisin and Archie Hunter reported earlier this week that, “Now that Ukraine’s grain-export deal has been signed, all eyes are on clearing a major obstacle: freeing the scores of ships stuck there since February.”
Ukraine Plans to Move Ahead on Black Sea Export Deal, Despite Missile Strikes
Financial Times writers Mark Raczkiewycz and Polina Ivanova reported yesterday that, “Ukraine hopes to start implementing a deal to export millions of tonnes of grain from blockaded Black Sea ports as soon as this week, even after Russian missile strikes hit the key Ukrainian port city of Odesa and threatened to unravel the agreement.”
Russia Attacks Black Sea Port One Day After Signing Export Deal- Threatening Agreement
Ellen Francis, Kareem Fahim and Claire Parker reported on the front page of Sunday’s Washington Post that, “Russian missiles hit the Black Sea port of Odessa on Saturday, Ukrainian officials said, imperiling a deal Moscow and Kyiv reached a day earlier to allow shipment of millions of tons of trapped grain and ease a global food crisis.”
Ukraine, Russia Sign Black Sea Grain Export Deal
Reuters writers Ezgi Erkoyun, Ece Toksabay and Max Hunder reported on Friday that, “Russia and Ukraine signed a landmark deal on Friday to reopen Ukrainian Black Sea ports for grain exports, raising hopes that an international food crisis aggravated by the Russian invasion can be eased.”
Deal Reached on Ukraine Black Sea Grain Exports, Expected to Be Signed Friday
Jared Malsin, William Mauldin and Alistair MacDonald reported in today’s Wall Street Journal that, “Officials from Russia, Ukraine and the United Nations planned to sign a deal to resume exports of Ukrainian grain via the Black Sea on Friday, Turkish and U.N. officials said, in an announcement that raised hopes of freeing food supplies trapped by the Russian invasion.”