Trade

Bloomberg writer Elizabeth Elkin reported yesterday that, “In more bad news for farmers, a fertilizer that’s key for corn production will remain expensive for at least two years.”

In its monthly Wheat Outlook report on Monday, the USDA’s Economic Research Service (ERS) stated that, “The U.S. season-average farm price (SAFP) for 2022/23 is projected to reach a record $10.75 per bushel, supported by tight domestic stocks.”

Reuters writers Rajendra Jadhav and Mayank Bhardwaj reported today that, “India will allow overseas wheat shipments awaiting customs clearance, the government said on Tuesday, introducing some relaxation in exports after it banned overseas sales of the staple on Saturday.”

Financial Times writers Hudson Lockett and Nic Fildes reported yesterday that, “Wheat prices rose by the maximum amount allowed on Monday after India imposed a ban on exports, stoking pressure on food costs as tight global supplies roiled international markets.”

Bloomberg writer Pratik Parija reported today that, “India’s move to restrict wheat exports is set to reverberate through global agricultural markets, exposing just how tight global supplies are after the war in Ukraine and threatening to drive up food prices even more.” 

Bloomberg writer Pratik Parija reported today that, “India prohibited wheat exports that the world was counting on to alleviate supply constraints sparked by the war in Ukraine, saying that the nation’s food security is under threat.”

In its monthly Grain: World Markets and Trade report yesterday, the USDA’s Foreign Agricultural Service (FAS) indicated that, “Global [wheat] production is forecast at 775 million tons, down 4 million from the previous year. The largest cut to production is in Ukraine, which is projected to have a crop one-third smaller than the prior year with reduced harvested area and lower yields due to the ongoing war with Russia.”

Bloomberg writers Megan Durisin, Kim Chipman, Jen Skerritt, and James Poole reported today that, “As Russia’s invasion chokes off Ukrainian wheat exports, pushing up bread and noodle prices, the global harvest faces an added test: extreme weather.”

New York Times writers Michael Schwirtz, Marc Santora and Michael Levenson reported on the front page of today’s paper that, “Russia’s nearly three-month-old invasion of neighboring Ukraine has been punctuated by flawed planning, poor intelligence, barbarity and wanton destruction. But obscured in the daily fighting is the geographic reality that Russia has made gains on the ground.”

Financial Times writers Oliver Telling, Benjamin Parkin and Emiko Terazono reported yesterday that, “Rising protectionism is exacerbating chaos in global food markets brought on by the war in Ukraine, with governments clamping down on exports of staples including grains, cooking oil and pulses.”

Jack Nicas and André Spigariol reported in today’s New York Times that, “When the first Russian missiles struck Ukraine, the reverberations were felt 6,500 miles away, on the vast Brazilian farms that grow much of the world’s soybeans.”

Bloomberg writer Megan Durisin reported on Friday that, “Global food prices held near a record as crop trade is disrupted by the war in Ukraine, exacerbating tight supplies and stoking inflation.”

DTN writer Russ Quinn reported earlier this week that, “According to retail fertilizer prices tracked by DTN for the fourth week of April 2022, prices are somewhat mixed to end the month of April.”

Bloomberg writers Pratik Parija and Shruti Srivastava reported yesterday that, “India is considering restricting wheat exports as severe heat waves have damaged crops, exacerbating tight global supplies after the war in Ukraine sent food inflation soaring.”

Reuters writer Pavel Polityuk reported yesterday that, “Ukraine’s farmers have sown around 31% of the area expected for the 2022 spring crops sowing, or 4.7 million hectares, Ukrainian grain traders union UGA said on Tuesday, citing official data.”

Wall Street Journal writers Jesse Newman and Patrick Thomas reported on the front page of today’s paper that, “From India to Ireland, governments are moving to fill a void from the Black Sea region that could total tens of millions of tons of grain. They are paying farmers to sow more crops and are enlisting railcars and additional containers to move wheat.”

Christine Hauser reported in today’s New York Times that, “First the coronavirus, then the war. Just as the pandemic caused shortages of essential items, Russia’s invasion of Ukraine has disrupted important food supplies, driving up prices of staples like cooking oil in supermarkets around the world.”

Ana Swanson reported on the front page of today’s New York Times that, “Ukraine has limited exports of sunflower oil, wheat, oats and cattle in an attempt to protect its war-torn economy. Russia has banned sales of fertilizer, sugar and grains to other nations.”

Reuters writers Rajendra Jadhav and Mayank Bhardwaj reported today that, “But a rare confluence of high international prices, consecutive record crops, a weaker rupee against the dollar and improved internal logistics have made [wheat] shipments from India attractive.”

Bloomberg writers Eko Listiyorini, Anuradha Raghu, and Rieka Rahadiana reported yesterday that, “Indonesia, the world’s biggest edible oils shipper, will widen an export ban to include crude palm oil, adding to uncertainty in a market that’s suffered dizzying price swings and threatening to worsen global food inflation.”