Ukrainian grain terminals on the Danube River have blossomed in importance during the war with Russia and now account for 65 percent of the nation's grain exports, said three agricultural economists at the farmdoc daily blog.
Russia's months-long drive to shut off Ukraine grain exports has produced both financial and diplomatic gains for President Putin, said a Washington think tank. "Securing ample and low-cost export routes for Ukrainian grain and increasing investments to rebuild Ukraine's agricultural sector are crucial to to defusing what has become one of Russia's most potent weapons in its war with Ukraine," said the Center for Strategic and International Studies.
On the same day Russia aimed a "retribution" attack on the port of Odesa, USAID administrator Samantha Power announced an additional $250 million to support Ukraine's war-battered agricultural sector on Tuesday. The money, put into the U.S.-created Agriculture Resilience Initiative-Ukraine (AGRI-Ukraine), will help the nation's farmers produce, store, and export their agricultural products.
The United States will work with allies to find new ways to get Ukrainian grain onto the world market following Russia's decision to effectively blockade its ports again, said an administration spokesman on Monday. Nonetheless, exports from Ukraine, a leading supplier of wheat, corn, and sunflower oil, are sure to decline with the demise of the year-old Black Sea grain agreement, he said.
Pressed by the United States to act, agriculture ministers from most of the world's leading economies condemned the Russian invasion of Ukraine and said in a statement that Moscow should allow Ukrainian grain to flow through the Black Sea unimpeded. Agriculture undersecretary Xochitl Torres Small said on Tuesday the expression of world support for Ukraine was a U.S. priority at the meeting of G20 agriculture ministers in India over the weekend.
A global economic slowdown will combine with inflation, higher interest rates, and the strong dollar to erode U.S. food and agriculture exports by 12 percent through fiscal 2026, projected the USDA on Wednesday.
UN and European leaders called on Russia on Sunday to revive the international agreement for grain exports from Ukraine, calling it crucial for stabilizing grain prices and keeping food flowing to tens of millions of people.
U.S. farmers will plant less corn and soybean land than expected this year, despite a surge in commodity prices, suggesting that tighter grain supplies will persist into 2022, said the USDA on Wednesday. Although with normal weather and yields, the corn and soybean harvests could be the second largest ever, they will not be quite as large as projected by traders and the government.
Snow and bitter cold damaged the citrus crop in Texas, slowed meat production in the Plains, and threatened to snarl grain exports through the Gulf of Mexico. Some traders have claimed force majeure because of ice and cold weather in Houston and New Orleans, reported AgriCensus
The House gave final congressional approval to the Grain Standards Reauthorization Act on a voice vote on Wednesday and sent the bill to the White House for President Trump's signature.
Exporters sold nearly 2.7 million tonnes of U.S. soybeans in the first half of this month for delivery to China, said the USDA on Thursday. A "significant" sale was reported on each of the 10 business days beginning on Sept. 3, said the Foreign Agricultural Service.
With President Trump ready to impose trade sanctions on China for hijacking U.S. technology, his chief agricultural negotiator told a farm conference that the administration is defending agriculture, too.
The United States rebounded to its longtime spot as the world’s largest wheat exporter last year, but Russia will be No. 1 by a long shot in the 2017/18 marketing year, says the monthly Grain: World Markets and Trade report.
U.S. farmers lost as much as $3.5 billion in corn, wheat and rice sales to China last year because the world's most populous nation used its tariff system to unfairly limit imports, the Obama administration said in a complaint to the World Trade Organization. Separately, the U.S. asked WTO to appoint a dispute panel to investigate its complaint of excessive Chinese subsidies of corn, wheat and rice.
The mammoth U.S. grain harvest and reduced competition from South America will set the stage for a rapid increase in exports over the next six months, the chief executive of ADM told analysts. Agrimoney quoted ADM leader Juan Luciano as saying, "Demand continues to be strong and the United States is competitive now for the future months."