Combinables Price Tracker

  • Russia opens sea corridors for international shipping to ports
  • Supply concerns remain in India, US cuts production forecast
(Published 05:20 AM this morning)

(Bloomberg) --

Wheat fell for a third session after Russia announced that it’s opening sea corridors for international shipping from seven Ukrainian ports, bolstering the outlook for higher grain shipments.

Futures in Chicago dropped as much as 2.8% on Thursday after losing more than 3% over the previous two days. Humanitarian maritime corridors from ports on the Black Sea and Azov Sea, including Odessa, will operate from 8 a.m. to 7 p.m. daily, Russian Defense Ministry official Mikhail Mizintsev said Wednesday.

The breakthrough after months of conflict in the Black Sea followed growing international criticism that Moscow’s blockade of shipping corridors in the region had triggered an unfolding global food crisis. Support has been rising across Europe to send warships to escort shipments stuck at Ukrainian ports.

Still, investors are keeping an eye on India’s shrinking wheat crop, while the US Department of Agriculture has downgraded its production forecast for the 2022-23 season. The outlook has been cut to 99 million metric tons, down from an initial estimate of 110 million as “terminal heat stress” impacts yields.

Corn futures also fell on Thursday, dropping to the lowest level in seven weeks. China has snapped up supplies from Brazil in an extremely rare move to ward against any disruptions to shipments from key suppliers in the US and Ukraine.

The world’s biggest importer of corn booked 250,000-to-400,000 tons from the South American nation for September, according to state traders, who added that the purchase was made ahead of an accord signed on Monday that guarantees Brazil’s access to the Chinese market.

Securing access to grains has become a paramount concern for governments across the world as prices for wheat, corn and soy soar. With a gauge of global costs near record highs following Russia’s invasion of Ukraine, a spate of nations have moved to curb exports -- a trend that could see prices rally higher as supply is further restricted.
 

teslacoils

Member
Arable Farmer
Location
Lincolnshire
It's called turning the tide. World is now doing deals for grain. UN sending someone tomorrow to get access to russian fert. Germany needs gas. Hungary blocking oil embargo. Zelensky still after more weapons. But politically the tide is turning. Russia will have Luhansk by monday. Donetsk soon after. It's not even front page on BBC online or aljazeera.

You can't expect Russia to just let this stuff out for free. Oil exports down ten percent. Price up more. Rouble record strenth. Word is that russian troops are outnumbering 10:1 on the ground. 10000 ukrainian pows now.

You will see world politicians start to suggest to zelensky to stop the fighting.
 

teslacoils

Member
Arable Farmer
Location
Lincolnshire
I'd suggest there is no difference between paying Russia £10 for grain and giving Ukraine £10 in aid, as opposed to giving Ukraine £10 fir their stolen grain while giving Russia £10 to access the ports. Well, apart from semantics.
 

4course

Member
Location
north yorks
It's called turning the tide. World is now doing deals for grain. UN sending someone tomorrow to get access to russian fert. Germany needs gas. Hungary blocking oil embargo. Zelensky still after more weapons. But politically the tide is turning. Russia will have Luhansk by monday. Donetsk soon after. It's not even front page on BBC online or aljazeera.

You can't expect Russia to just let this stuff out for free. Oil exports down ten percent. Price up more. Rouble record strenth. Word is that russian troops are outnumbering 10:1 on the ground. 10000 ukrainian pows now.

You will see world politicians start to suggest to zelensky to stop the fighting.
reckon if nato reduces sanctions and clears the black sea whilst turning its back on ukraine we better start learning to speak russian
 

Chae1

Member
Location
Aberdeenshire
It's called turning the tide. World is now doing deals for grain. UN sending someone tomorrow to get access to russian fert. Germany needs gas. Hungary blocking oil embargo. Zelensky still after more weapons. But politically the tide is turning. Russia will have Luhansk by monday. Donetsk soon after. It's not even front page on BBC online or aljazeera.

You can't expect Russia to just let this stuff out for free. Oil exports down ten percent. Price up more. Rouble record strenth. Word is that russian troops are outnumbering 10:1 on the ground. 10000 ukrainian pows now.

You will see world politicians start to suggest to zelensky to stop the fighting.

You've changed your tune!?

Was no chance of this occurring on Monday.
 

Happy

Member
Location
Scotland
Just had my grain merchant on the phone to say he’d sold my last load of wheat this morning but that I didn’t need to take it if I didn’t want to:D
He had a note I still had 1 load left so took the liberty of selling it for June at £350.
 

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HSENI names new farm safety champions

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Written by William Kellett from Agriland

Farm-safety-640x360.png
The Health and Safety Executive for Northern Ireland (HSENI) alongside the Farm Safety Partnership (FSP), has named new farm safety champions and commended the outstanding work on farm safety that has been carried out in the farming community in the last 20 years.

Two of these champions are Malcom Downey, retired principal inspector for the Agri/Food team in HSENI and Harry Sinclair, current chair of the Farm Safety Partnership and former president of the Ulster Farmers’ Union (UFU).

Improving farm safety is the key aim of HSENI’s and the FSP’s work and...
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