GFM Network News

(Photo courtesy Canada Beef Inc.)

Russia-Turkey tensions stymie new wheat deals

Reuters — Political tension between Russia and Turkey has put a brake on new wheat deals between the two countries and created uncertainty about existing agreements, traders said Thursday. Relations between Russia, one of the world’s largest wheat exporters, and Turkey, the largest buyer of Russian wheat, have quickly deteriorated after Turkey shot down a […] Read more

(Dave Bedard photo)

Cargill said restructuring, cutting jobs

London | Reuters –– Cargill Inc., one of the world’s largest privately held corporations, has launched a restructuring that includes job cuts, one company source and four industry sources said Friday, the latest casualty of a downturn in the farm economy. The 150-year-old company, a top commodities trader, is also closing offices, two of the […] Read more

Russia surprises peers with early wheat export market exit

London/Moscow | Reuters — Russian wheat has made a surprise early exit from key global export markets, despite the country’s near-record crop, after domestic prices rose in the fallout from the Ukraine crisis. With a bumper crop and the rouble close to historic lows, Russia could reasonably be expected to actively supply wheat to key […] Read more

Egypt’s political turmoil unlikely to derail vital wheat buy

Egypt’s first deal on the international wheat market after a long absence is expected to complete even after the army ousted the country’s first democratically elected president earlier this week, traders said on Thursday. Egypt’s armed forces overthrew Islamist President Mohamed Mursi on Wednesday, after the armed forces chief General Abdel Fattah al-Sisi said Mursi […] Read more