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.”
Farm Policy News
“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.”
Wheat Price Swings Wildly, as Food Inflation and Hunger Concerns Mount Due to Russia’s Invasion of Ukraine
David L. Stern, Ellen Francis, Ellen Nakashima and Joanna Slater reported on the front page of today’s Washington Post that, “The desperate effort to secure safe passage for civilians trapped in Ukrainian cities under attack by Russian forces remained deeply precarious on Tuesday: A single evacuation route opened, allowing thousands to escape safely, while Ukraine accused Russia of shelling another proposed corridor.”
Chicago Wheat Sets Record High, as Markets Sort Out Supply Concerns
Nabih Bulos, Laura King, and Henry Chu reported on the front page of today’s Los Angeles Times that, “A dozen days into a devastating war and a burgeoning refugee crisis, Russian forces on Monday launched withering new attacks on civilian areas and strategic centers in Ukraine, seeking to cripple the country’s defenses and establish supremacy over its vital Black Sea coast.”
Ukrainian Farmers Ask: “Plant or Not to Plant,” Even if Fighting Stops, Yields Could Suffer as Input Worries Loom
David L. Stern, Joby Warrick, Kareem Fahim, Dan Lamothe and Missy Ryan reported on the front page of today’s Washington Post that, “Russian forces pounded key airfields in central Ukraine and launched a fresh assault on the besieged port city of Mariupol on Sunday, Russian and Ukrainian officials said, as Moscow pressed ahead with its invasion in defiance of new Western economic threats and fierce resistance from Ukraine’s outgunned defenders.”
Global Food Prices Hit Record in February, Russian Invasion Intensifies Supply Risks, as Food Protectionism Stirs
Michael Schwirtz, Andrew E. Kramer and Michael Levenson reported on the front page of Sunday’s New York Times that, “President Vladimir V. Putin warned on Saturday that crippling economic sanctions imposed by the West were “akin to a declaration of war,” as the Russian military pummeled civilian targets and continued shelling near the first protected routes intended to allow besieged Ukrainians to flee, apparently violating a cease-fire that had been agreed to only hours earlier.”
Wheat: “Crazed Cash Market,” Many Grain Elevators Stop Issuing Bids as Futures and Cash Prices Diverge
Financial Times writer Guy Chazan reported today that, “Russia called a temporary halt to its bombardment of the Ukrainian port of Mariupol on Saturday, enabling thousands of civilians to take advantage of the brief break in fighting to flee the besieged city.”
Wheat Soars to 14-Year High; Surge to $14 Possible, Citigroup Says
David L. Stern, Alex Horton, Loveday Morris and Cate Cadell reported on the front page of today’s Washington Post that, “Russia has sent nearly all its assembled combat power into Ukraine and on Thursday unleashed some of the most intense fighting since the invasion began, with local officials pleading for help as ground troops seized or encircled strategically important southern cities.”