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Shining Light on Farm & Food Policy for 20 Years.
Thursday, November 07, 2024
AGCO has agreed to sell most of its grain and protein business for $700 million to American Industrial Partners, an industrials investor worth $16 billion, in an all-cash transaction.
Russia’s repeated claims that the Black Sea Grain Initiative only helps wealthy nations have kept Ukraine on the defensive for months. Now, Ukraine is trying to flip the script on Moscow, with support from the U.S., United Nations, Japan, France, Norway and other countries.
In today's WASDE report, USDA increased production and offset some of those gains with higher domestic use. However, USDA did not lower export expectations which may be coming in the months ahead.
Stevedores at Odesa ports are loading ocean-going vessels with grain as Ukraine prepares to ramp up exports well beyond the comparatively meager amounts it’s been able to ship since Russia invaded five months ago.
A broad coalition of countries is making a last-minute push to change World Trade Organization rules and allow governments to increase farm subsidies and accumulate massive stocks of grain that can be dumped into the global market.
Ukrainian farmers are short on diesel, fertilizer and manpower. They’ve been bombed, occupied, had their fields mined and silos and tractors destroyed by the Russian military. They've even had their grain robbed and sold overseas while they themselves are struggling to export because of a Russian blockade at ports, sources tell Agri-Pulse.
The USDA on Thursday reported yet another Chinese purchase of more than a million metric tons of U.S. corn, pushing cumulative U.S. corn sales to China so far in the current 2021-22 marketing year to roughly 14.7 million metric tons.
Agricultural shippers should not have to pay the price for increasingly unreliable railway service that is pushing American farmers and ranchers to the breaking point, Deputy Agriculture Secretary Jewel Bronaugh said Tuesday at an emergency hearing held by the Surface Transportation Board.
