Trade

Reuters writer Pavel Polityuk reported yesterday that, “Ukrainian Deputy Prime Minister Oleksandr Kubrakov denied on Thursday reports by Ukrainian and British firms that the new Black Sea export corridor had been suspended.”

Reuters writer Pavel Polityuk reported today that, “Ukraine has suspended the use of its new Black Sea grain corridor due to what it sees as a threat from Russian warplanes, the Kyiv-based Barva Invest consultancy said on Thursday.”

Bloomberg writers Michael Hirtzer and Tarso Veloso Ribeiro reported yesterday that, “Chinese grain companies participated in a formal contract-signing ceremony for the purchase of US farm goods for the first time since the Trump-era trade dispute.”

In a Trade Spotlight report yesterday, the USDA’s Foreign Agricultural Service (FAS) indicated that, “U.S. soybean meal exports set a record at an estimated 13.2 million tons in MY 2022/23 (Oct-Sep), valued at nearly $7 billion, driven by increased soybean crush to supply feedstock oil for growing U.S. biomass-based diesel production.”

Bloomberg writer Tarso Veloso Ribeiro reported last week that, “A sevenfold jump in Brazilian soybean shipments to China for next month highlights how the US is losing influence over one of the world’s most important agricultural markets.”

Financial Times writer Sam Cowie reported yesterday that, “Few plants divide opinion in Brazil as much as soya, of which the country is the world’s largest producer and exporter.”

Bloomberg writer Hallie Gu reported yesterday that, “China has approved dozens of genetically modified corn and soybean seed varieties for planting, in a breakthrough move that could eventually boost production and reduce dependence on foreign supplies.”

Last week, in its quarterly Livestock and Poultry: World Markets and Trade report, USDA’s Foreign Agricultural Service (FAS) indicated that, “In 2024, EU pork, beef, and chicken meat exports are forecast to account for 15 percent of global exports, marking a significant decline from 20 percent in 2019.”

Bloomberg writer Hallie Gu reported on Sunday that, “Heavy rains will hit parts of China’s biggest grain producing areas in the next ten days, affecting crops from wheat to rice, the country’s weather bureau said.”

Dow Jones writer Kirk Maltais reported yesterday that, “Wheat for December delivery rose 3.3% to $5.78 1/4 a bushel on the Chicago Board of Trade on Thursday, with futures climbing in reaction to news throughout the day of Russian attacks on Ukrainian cities, and fears that vessels earmarked for carrying Ukrainian grain could be targeted.”

Reuters writers Olena Harmash and Pavel Polityuk reported today that, “Ukraine’s navy said on Wednesday that 12 more cargo vessels were ready to enter a fledgling Black Sea shipping corridor on their way to Ukrainian ports, as Kyiv steps up a push to defy a de facto Russian blockade on its vital sea exports.”

Reuters writer Pavel Polityuk reported on Sunday that, “Five more ships are on their way to Ukrainian sea ports using a new corridor opened to resume predominantly agricultural exports, an alternative arrangement to the Black Sea grain deal blocked by Russia, a top Ukrainian official said on Sunday.”

Bloomberg writers Isis Almeida, Gerson Freitas Jr, and Michael Hirtzer reported yesterday that, “Today the source of America’s agripower is rapidly dwindling.”

New York Times writers Victoria Kim and Matthew Mpoke Bigg reported today that, “Russian drones targeted southern Ukraine early Tuesday, hitting port infrastructure, warehouses and dozens of trucks near the Black Sea, after Ukraine increased attacks on Crimea in an effort to loosen Moscow’s grip on the south.”

Financial Times writer Roman Olearchyk reported today that, “Russian forces pummeled the Black Sea port city of Odesa in the early hours of Monday as they continued their months-long campaign of air strikes aimed at hobbling Ukraine’s grain exports.”

Bloomberg writers Hallie Gu and Tarso Veloso Ribeiro reported earlier this week that, “China’s voracious appetite for South American soybeans has continued into a period typically dominated by the US, an ominous sign for that nation’s growers as their harvest begins.”

Financial Times writer Susannah Savage reported yesterday that, “The price of wheat has been pushed to a near three-year low by an exceptionally strong crop in Russia, but analysts warn that an escalation of tensions between Ukraine and Russia in the Black Sea and high levels of hedge fund bets risk causing a renewed spike.”

Bloomberg writer Olesia Safronova reported today that, “As Ukraine’s farmers labor through their second wartime harvest, they’re expecting a big one. They just don’t know how much of it will ever make it to market.”

New York Times writer Matthew Mpoke Bigg reported today that, “A commercial ship loaded with wheat left a Ukrainian port on Tuesday, becoming the first vessel with cargo to use a new Black Sea route out of the country aimed at avoiding Russian naval threats.”

Reuters writer Tom Balmforth and Pavel Polityuk reported today that, “Ukraine plans to sue Poland, Hungary and Slovakia over bans on Ukrainian agricultural products, Agriculture Minister Mykola Solsky said on Monday.”