Page 5 - Commodity Pricing News Today

Soymeal futures have increased over the past month due to lower projections for global soybean supplies in 2023/24.

Wheat prices leaped, leading a strong session for grain futures, as a massive attack by Russia on Ukrainian ports shattered hopes for the country’s grain exports, reports the CRM Agri team.

The Black Sea agri-commodities export corridor, which allowed Ukrainian grain and oilseeds to be shipped safely, is now set to expire, after Russia announced it is pausing its participation in the initiative.

The EU Commission has released a proposal today to lift restrictions for plants resulting from new gene-editing technology.

The dual impacts of high commodity prices and rising interest rates are squeezing the operating margins of cooperative grain elevators in the US.

Existing investors in Viterra, Canada’s biggest pension funds, would back a potential merger between the Glencore Plc entity and Bunge Ltd, according to a report by Bloomberg.

The EU Commission’s Mars bureau this week nudged its forecast for the EU’s 2023 rapeseed yield higher to 3.34t per hectare, led most likely by an increase in the French crop. Should that be achieved, it would be the highest yield since the high of 3.61t per hectare recorded nine years ago, finds a CRM Agri outlook.

Moscow’s signing up to a third extension of the Black Sea grain export deal, confirmed late Wednesday, keeps open the safe corridor for Ukraine’s grain shipments and removes doubts over access to Russia’s substantial exportable wheat supplies too, commented CRM Agri analysts.

Renewal of the UN brokered Black Sea grain export corridor remains a key watchpoint in markets, with it set to expire on Thursday this week, notes the AHDB.

As industry experts warn that some US soy crush expansion projects could be put in jeopardy by EPA proposals, ADM confirms its soybean crushing plant in Spiritwood, North Dakota, is set to come on stream in Q3 of 2023.