Financial Times opinion columnist Rana Foroohar indicated yesterday that, “We know that the war in Ukraine has led to sharp increases in prices for both food and fuel.”
Farm Policy News
“The Impact (on Global Markets) is Direct, Dramatic and Large. And it Continues,” Ukraine’s Ag Minister on Ag Exports
Reuters writer Natalia Zinets reported yesterday that, “Ukraine’s new agriculture minister Mykola Solskyi on Saturday said Ukraine’s ability to export grains was getting worse by the day and would only improve if the war with Russia ends.”
Ukrainian Farmers Plant First 150,000 Hectares, as Concerns Over Food Price Discontent Persist
Reuters writer Pavel Polityuk reported yesterday that, “Major global grain grower Ukraine has sown the first 150,000 hectares of spring crops amid the Russian invasion which could sharply reduce the sowing area, the country’s deputy agriculture minister said on Friday.”
“It’s Going to be Real,” President Biden on War-Related Food Shortages
Bloomberg’s Josh Wingrove reported yesterday that, “President Joe Biden said that the world will experience food shortages as a result of Russia’s invasion of Ukraine, and production increases were a subject of discussions at a Group of Seven meeting on Thursday.”
Food Security: EU to Aid Farmers, Free Up Fallow Land- U.S. Farm Groups Request CRP Flexibility
Bloomberg News reported yesterday that, “The European Union is proposing a 1.5 billion-euro ($1.65 billion) funding package for farmers, plus freeing up fallow land for crops as it seeks to shore up food security after Russia’s invasion of Ukraine.”
Planted Acres in Ukraine Could Fall By Half
Reuters writer Pavel Polityuk reported yesterday that, “Ukraine’s spring crop sowing area may more than halve this year from 2021 levels to some 7 million hectares, its Agriculture Minister Roman Leshchenko said on Tuesday, versus 15 million hectares expected before the Russian invasion.”
Fertilizer Prices Break New Records– in Conjunction with Elevated Commodity Prices, Stir Food Security Concerns
Emiko Terazono reported yesterday at The Financial Times Online that, “Fertiliser prices are breaking new records as supplies from Russia, the leading exporter, has dwindled, adding further to fears over food security.”
“Global Food Crisis” Possible- – “No Precedent Even Close to This Since World War II”
Writing on the front page of today’s New York Times, Jack Nicas reported that, “The war in Ukraine has delivered a shock to global energy markets. Now the planet is facing a deeper crisis: a shortage of food.”
Fall Out From Russian Invasion Pressures Food Prices Even More, as “Farmers are Facing Increasingly Tough Margins”
Wall Street Journal writers Nate Rattner and Andrew Barnett reported yesterday that, “Russia’s invasion of Ukraine threatens a significant portion of the world’s food supply when prices were already at their highest level in years.”
Fertilizer Prices Hit New Highs, as Russian Invasion “Exacerbating a Food Shortage”
Bloomberg writer Elizabeth Elkin reported yesterday that, “Fertilizer prices continue to surge to records as Russia’s invasion of Ukraine puts a massive portion of the world’s fertilizer supply at risk, adding to concerns over soaring global food inflation.”
Russian Grain Exports Persist, Albeit at Slower Pace, as China Turns to U.S. Corn
Bloomberg writer Megan Durisin reported yesterday that, “Grain exports from Russia are slowing but continue to flow, with ships calling at the nation’s ports even as the war in Ukraine rages on and fears over global food security increase.”
Fertilizer and Commodity Trade Flows Continue to Adjust to Russian Invasion
Reuters writer Tom Polansek reported yesterday that, “CF Industries Holdings is increasing fertilizer shipments to both U.S. coasts from the world’s largest nitrogen complex in Louisiana to help offset a decline in exports from Russia after it invaded Ukraine, Chief Executive Tony Will said.”
Ukraine Planting Area in Focus, as Global Fertilizer Sourcing Evolves
Reuters News reported yesterday that, “The area sown with Ukraine’s 2022 spring grain crops could fall 39% to 4.7 million hectares due to Russia’s military invasion, the APK-Inform agriculture consultancy said on Tuesday.”
Wheat Market Settles In More Narrow Range
Bloomberg writer Allison Nicole Smith reported yesterday that, “Wheat futures fell in a broad slump in commodities as markets assessed Ukraine-Russia talks and traders awaited a Federal Reserve decision on U.S. interest rates this week.”
“Limitations” on How Fast U.S. Farmers Can Respond to High Commodity Prices, as “Global Oilseed Prices Soar”
Financial Times writer Steff Chávez reported yesterday that, “The war in Ukraine is altering Shay Richter’s plans for his Montana family farm.”
ERS: “U.S. Wheat Prices Surging,” Markets Are in Flux – – FT Notes Ukraine Spring Planting Fears
Last week, in its March Wheat Outlook report, the USDA’s Economic Research Service (ERS) stated that, “Wheat prices are surging globally in the wake of the conflict between Russia and Ukraine.”
Food Prices Climb 7.9%, Biggest Jump Since 1981
Gabriel T. Rubin reported on the front page of Friday’s Wall Street Journal that, “Rising energy, food and services prices pushed already elevated U.S. inflation to a 7.9% annual rate last month—another four-decade high—with oil and commodity market disruptions from the Ukraine crisis expected to add more cost pressures.”
Ukraine Planting: “Farmers Are Pushing Forward Wherever Possible”
Bloomberg News reported today that, “Ukraine President Volodymyr Zelenskiy is urging farmers to sow as many fields as possible to protect the food supply. But several of the nation’s largest agribusinesses say some plantings just won’t happen if Russia continues its war in Europe’s breadbasket.”
Wheat Falls in “Most Volatile Market in at Least a Decade”
Reuters writer Mark Weinraub reported yesterday that, “U.S. wheat futures fell on Thursday, with the most-active Chicago Board of Trade soft red winter wheat contract plunging 9.5% as traders said the rally sparked by Russia’s invasion of Ukraine had made the grain too expensive for potential buyers.”
USDA Lowers Wheat, Corn Export Estimates for Ukraine; Fertilizer, Food Security Worries Escalate
Bloomberg writer Megan Durisin reported yesterday that, “The U.S. Department of Agriculture lowered its estimate for Ukraine and wheat and corn exports due to the attack by Russia.”