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REPORTER: Two Years In: Russia-Ukraine War’s Impact on the Agricultural Marketplace 

This article was originally featured in the WINTER 2024 Edition of Urner Barry’s Reporter magazine. 

On February 24, 2022, Russia launched a full-scale invasion of Ukraine, resulting in far-reaching ramifications to human life and for the global marketplace.

Both Russia and Ukraine are among the world’s most significant producers and exporters of agricultural goods. The two countries play a critical role in supplying the global market with critical commodities like fertilizer, grains, and oilseeds.

Prior to the invasion, global food...

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Jan 9 8:33 AM, Urner Barry



Where Are Commodities Prices Headed?

Individuals investing in commodities haven't had a smooth ride over the past few years.

U.S. crude-oil futures briefly turned negative during the height of the pandemic in 2020 before rebounding to more than $82 a barrel recently. World food prices reached their highest level on record last year, in part as the Russia-Ukraine war spooked markets, but have fallen back more recently. And commodities from lumber to copper rode high and then fell, as global inflationary pressures and recession concerns drove trading.

So what happens next...

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Nov 6 10:28 AM, Urner Barry


Russia and China Planning to Construct Bordering Grain Terminal 

Over the four-day Eastern Economic Forum held in Vladivostok, Russia from September 10-13, Chinese and Russian officials signed multiple deals to enhance trade flows between the two countries. 

This includes the construction of a new grain terminal, called the Grain Terminal Nizhneleninskoye-Tongjiang, as reported by the South China Morning Post. The terminal will help export food produced in the Ural Mountains, Siberia, and Russia’s Far East to China. 

The new logistics hub will be located between Vladivostok, a major port city in Russia, and China’s northeastern province of...

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Sep 14 9:30 AM, UB Newswires


Wheat Futures Rise Following Alleged Drone Attack on Moscow

Wheat futures on the Chicago Mercantile Exchange advanced by nearly 2% early Friday, boosted by mounting concerns over global supplies following an alleged drone attack on a building in central Moscow earlier in the day, according to media reports. 

December wheat reversed Thursday’s losses and narrowly surpassed $6.28 per bushel. This, however, was down sharply from its week-ago settlement price of $6.53 ¾ per bushel. Wheat prices have generally been on a steep downtrend since surging to $7.96 per bushel in late July, a five-month high... 

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Aug 18 7:05 AM, UB Newswires


Ukraine's Navy Announces Temporary Corridors for Black Sea Vessels

Ukraine's Navy recently announced "temporary corridors" for merchant vessels destined for and departing from Ukrainian ports in the Black Sea.

The specified routes will primarily be used for the possibility of leaving civilian ships that have been in the Ukrainian ports of Chornomorsk, Odesa, and Pivdennyi since the beginning of the full-scale invasion of Russia on February 24, 2022,” said Thursday's post.

The routes were previously proposed by Ukraine to the International Maritime Organization (IMO). 

Yesterday's announcement acknowledged military threats and mine danger from Russia along these routes. Moscow pulled out of the UN-backed...

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Aug 11 7:10 AM, UB Newswires


Improved Rainfall Sends Soybean Futures to Multi-Week Lows

Widespread showers have largely benefitted corn and soybeans in the nation's key crop-producing regions, sending soybean futures on the Chicago Mercantile Exchange to multi-week lows on Monday.

November soybeans shed over 31 cents and fell to the lowest level since June 30, closing at $13.02 per bushel. 

In the latest USDA Crop Progress report, good to excellent ratings for soybeans were reported at 54%, up 2% from the week prior. Soybeans blooming moved up to 90%, above past progress benchmarks...

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Aug 8 7:21 AM, UB Newswires


NATO to Increase Reconnaissance in Black Sea Following Russian Attacks on Ukrainian Grain Storage

During the second meeting of the NATO-Ukraine Council on Wednesday, NATO and Ukraine condemned Russia’s withdrawal from the Black Sea grain deal last week, which raised fears of global food insecurity and higher food prices for countries that depend on Ukrainian exports.

Moscow is creating “deliberate attempts to stop Ukraine’s agricultural exports on which hundreds of millions of people worldwide depend,” read a statement issued by NATO yesterday

The U.N.-brokered grain deal, signed last summer, allowed the export of 32.9 metric tons of commodities...

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Jul 27 7:26 AM, UB Newswires


Latest Treasury Sanctions Take Aim at Russia's Revenue Sources, Including Mining Sector

Today, the U.S. Department of the Treasury's Office of Foreign Assets Control (OFAC) announced further sanctions to inhibit Russia's supplies and revenue-generating sources that aid in its war efforts against Ukraine.

The designations made today by OFAC and the Department of State are part of the commitments that G7 Leaders made in February and May of this year.

The latest sanctions seek to restrict Russia’s access to products that support its military and war efforts, reduce Russia’s revenue from the metals and mining sector, undermine its future energy capabilities...

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Jul 20 12:20 PM, UB Newswires


Russia's Warning to Black Sea Bound Vessels Ignites Rally in Wheat Futures

Wheat futures on the Chicago Mercantile Exchange climbed to multi-week highs Wednesday after Russia's Defense Ministry announced that any vessel bound for Ukranine's Black Sea ports will be viewed as potential carriers of military cargo, starting tomorrow. 

"From 00:00 am Moscow time on 20 July 2023 (2100 GMT), all vessels on the Black Sea sailing to Ukrainian ports will be regarded as potential carriers of military cargo," according to a Telegram post released by the defense ministry. "The flag states of these vessels will...

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Jul 20 8:12 AM, UB Newswires


EU Denounces Russia's Attacks on Odesa and Ukraine's Grain Storage

Josep Borrell, High Representative of the European Union for Foreign Affairs and Security Policy, denounced Russia's attacks on  Odesa, which have resulted in the large-scale destruction of Ukraine's grain storage. 

In press remarks made today, Borrell explained: "for the third night, Russia bombs and destroys all of the port infrastructure in Odesa [and other coastal cities] and the storages of grain – more than 60,000 tons of grain has been burned."

"So not only do they withdraw from the grain agreement, in order to [halt the] export the grain from...

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Jul 20 7:41 AM, UB Newswires


Russian Attacks on Odesa Target Grain Deal, Says Zelenskyy

Following a second night of Russian attacks on Odesa, a city on the Black Sea in Ukraine, Ukrainian President Volodymyr Zelenskyy wrote that Moscow is deliberately taking aim at the Black Sea Grain Initiative after the deal's collapse on Monday.

“Russian terrorists absolutely deliberately targeted the infrastructure of the grain agreement, and every Russian missile is a blow not only to Ukraine, but also to everyone in the world who seeks a normal and safe life,” wrote Zelenskyy on Wednesday

“Deputy Prime Minister Kubrakov and Minister Klymenko informed about the consequences of the strikes. There were also reports by Chief of Staff Zaluzhnyi and Air Force Commander Oleschuk. He instructed Voyskov to strengthen the protection of people and port infrastructure... 

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Jul 19 8:01 AM, UB Newswires


Crop Condition Ratings Increase; Futures Choppy Following Grain Deal Expiration 

In the latest Crop Progress report, the USDA shows corn conditions were modestly altered to reflect a combined 13% in poor to very poor condition, compared to 14% the previous week. 30% of corn is rated fair, while 57% ranges good to excellent, up 2 points from a week ago.

Corn in the silking stage was up to 47% complete, compared to the 5-year average of 43%.

This week's report also showed preliminary figures for corn dough—which is the stage of growth when about half the kernels are...

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Jul 18 9:32 AM, UB Newswires


U.N. Secretary-General Addresses Black Sea Grain Deal Termination

United Nations Secretary-General António Guterres has addressed the Black Sea Grain Initiative, which was terminated on Monday after Russia withdrew from the deal. 

Ships traveling in the northwestern part of the Black Sea are no longer guaranteed safety from Russian forces, raising concerns over the export capabilities of grain and other commodities from Ukraine’s three key ports. 

The grain deal, which was discontinued hours before its renewal deadline, has ensured the safe passage of over 32 million metric tons of food commodities from Ukrainian ports to countries at high...

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Jul 18 7:40 AM, UB Newswires


U.N. Secretary-General Sends Letter to Russia Ahead of Grain Deal Expiration

Ahead of the Black Sea grain deal’s looming expiration date on July 17, the United Nations continues in its efforts to secure Russia's agreement. 

Earlier this week, U.N. Secretary-General António Guterres sent a letter to Russian President Vladimir Putin detailing a proposal to revive the crucial grain deal, which was launched in Istanbul by the Russian Federation, Türkiye, Ukraine, and the United Nations last July. 

The deal is aimed at preventing global hunger and securing the safety of merchant ships that deliver grain and other...

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Jul 13 7:05 AM, UB Newswires







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