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Liberia-flagged bulker K Sukret, carrying grain under the Black Sea Grain Initiative, waits for inspection in the southern anchorage of Istanbul on May 17, 2023. (Photo: Reuters/Mehmet Emin Caliskan)
Crops, Markets, Reuters

Insurers seen reviewing Black Sea ship cover after Russia quits deal

Last ship covered under deal left Sunday

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London | Reuters — Insurers are reviewing whether to freeze cover for any ships willing to sail to Ukraine after Russia on Monday quit a UN-backed deal that allows the export of grain through a wartime Black Sea safe corridor, industry sources said. The agreement, brokered by Turkey last July, aimed to alleviate a global […] Read more
Ukraine’s President Volodymyr Zelenskyy (r) and South Korean President Yoon Suk Yeol attend a joint statement in Kyiv on July 15, 2023. Photo: Reuters/Valentyn Ogirenko
Crops, Markets, Reuters

Grain shipping deal can operate without Russia, Zelenskyy says

'Blackmail is not allowed for anyone'

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Kyiv | Reuters — The Black Sea grain shipment deal must continue and could operate without Russian participation after Moscow’s withdrawal on Monday, Ukrainian President Volodymyr Zelenskyy said. Ukraine, Zelenskyy said in his nightly video address, was a food source for 400 million people. “Africa has the right to stability. Asia has the right to […] Read more
Vessels are seen as they await inspection under the Black Sea Grain Initiative, brokered by the UN and Turkey, in the southern anchorage of the Bosphorus at Istanbul on Dec. 11, 2022. (File photo: Reuters/Yoruk Isik)
Crops, Markets, Reuters

UN waits for Russian answer as Black Sea deal deadline looms

U.S. says Russia using grain deal 'as a weapon'

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United Nations | Reuters — UN Secretary-General Antonio Guterres is still waiting for a response from Russian President Vladimir Putin on a proposal to extend a deal allowing the safe Black Sea export of Ukraine grain beyond Monday, a U.N. spokesperson said on Friday. Guterres wrote to Putin on Tuesday asking him to extend the […] Read more
A Belize-flagged bulker, carrying grain under UN’s Black Sea Grain Initiative, transits the Bosphorus at Istanbul on May 12, 2023. (File photo: Reuters/Yoruk Isik)
Crops, Markets, Reuters

UN scrambles to save Black Sea deal ahead of Monday deadline

Russia says has not yet taken final decision

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United Nations | Reuters — The European Commission is helping the United Nations and Turkey try to extend a deal allowing the Black Sea export of Ukraine grain and is open to “explore all solutions,” a European Union spokesperson said on Thursday, ahead of the deal’s possible expiration on Monday. The U.N. and Turkey brokered […] Read more
Liberia-flagged bulker K Sukret, carrying grain under the Black Sea Grain Initiative, waits for inspection in the southern anchorage of Istanbul on May 17, 2023. (Photo: Reuters/Mehmet Emin Caliskan)
Crops, Reuters

UN asks Putin to extend Black Sea grain deal in return for SWIFT access

Grain export initiative to expire Monday otherwise

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United Nations | Reuters — U.N. Secretary-General Antonio Guterres has proposed to Russian President Vladimir Putin that he extend a deal allowing the safe Black Sea export of grain from Ukraine in return for connecting a subsidiary of Russia’s agricultural bank to the SWIFT international payment system, sources told Reuters. Russia has threatened to ditch […] Read more
File photo of a sunflower crop in Manitoba. (MysticEnergy/Getty Images)
Crops, Markets

Manitoba sunflowers doing well with fewer acres

Few pest, weed problems appear so far

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MarketsFarm — Despite fewer acres under hot and dry conditions, things are going well for Manitoba’s sunflower crop. Out of the 88,000 acres planted for sunflowers across Canada, 77,000 of them are in Manitoba, according to Statistics Canada’s (StatCan) principal field crop acreage estimates released June 28. Both figures represent the fewest number of acres […] Read more
Vessels are seen as they await inspection under the Black Sea Grain Initiative, brokered by the UN and Turkey, in the southern anchorage of the Bosphorus at Istanbul on Dec. 11, 2022. (File photo: Reuters/Yoruk Isik)
Crops, Markets, Reuters

Russia rejects bank compromise as Black Sea grain deal expiry looms

Collapse of deal could aggravate global food crisis

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Reuters — Russia on Tuesday restated a demand for its state agricultural bank to be reconnected to the global SWIFT payments system to avert the collapse of the Black Sea grain deal, and said it would not accept a reported compromise proposal. With 13 days remaining until the expiry of the deal, which has allowed […] Read more
Liberia-flagged bulker K Sukret, carrying grain under the Black Sea Grain Initiative, waits for inspection in the southern anchorage of Istanbul on May 17, 2023. (Photo: Reuters/Mehmet Emin Caliskan)
Crops, Markets, Reuters

EU seen weighing concession to Russian bank over Black Sea deal

New arm of ag bank could connect to SWIFT

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Reuters — The European Union is considering a proposal for the Russian Agricultural Bank to set up a subsidiary to reconnect to the global financial network as a sop to Moscow, the Financial Times said on Monday. With the bank under sanctions, the move aims to safeguard the Black Sea grain deal that allows Ukraine […] Read more
Vessels are seen as they await inspection under the Black Sea Grain Initiative, brokered by the UN and Turkey, in the southern anchorage of the Bosphorus at Istanbul on Dec. 11, 2022. (File photo: Reuters/Yoruk Isik)
Crops, Markets, Reuters

Ukraine ‘99.9 per cent’ certain Russia will quit Black Sea deal next month

Russia wants demands met on ammonia shipments

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Kyiv | Reuters — Russia is 99.9 per cent certain to quit a U.N.-brokered deal on the safe wartime passage of Black Sea grain next month because it no longer needs Ukrainian ports to export ammonia, a senior Ukrainian diplomat said. The United Nations and Turkey brokered the Black Sea Grain Initiative with Moscow and […] Read more
Detail from the front of the CBOT building in Chicago. (Vito Palmisano/iStock/Getty Images)
Crops, Markets, Reuters, Weather

U.S. grains: Soy, corn futures steady; wheat mixed

Large Russian exports tempered fears of Black Sea corridor agreement breakdown

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Chicago | Reuters — U.S. corn and soybean futures steadied on Tuesday after the market rallied sharply at the end of last week on concerns that hot and dry weather will lead to harvest shortfalls. The market remained underpinned by the most recent forecasts, which remained unfavourable for key growing areas of the U.S. Midwest, […] Read more

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