Latest News From Russia

Experts are watching global dynamics to understand the input market’s longer-term outlook in the U.S. Among their top concerns are geopolitics, weather and low supply.

Roughly 37.6 million acres of U.S. ag land is foreign owned, according to USDA. However, select purchases of U.S. land could come to an end following a Senate vote this week.

Grain prices continue to rally as Russia ramped up attacks on Ukrainian ports on the River Danube. But agricultural economists and markets analysts point out the situation still hasn’t reached a worst-case scenario yet.

The Kremlin said there was no link between the attack and suspending the deal, which lets Ukraine export grain through the Black Sea. Instead, it occurred over a failure to ease rules for food and fertilizer exports.

According to USDA, Russian-speaking hackers are the likely suspects. The Office of Personnel Management and two organizations within the Department of Energy also were apparently targeted or breached.

This comes amid word that Ukraine's ag output is expected to decline by 36% this year, compared to 2021.

China's exports to Russia reached a record high in April, amounting to $9.6 billion.

The Ukraine Black Sea grain deal has been extended for two more months, one day before Russia could have quit the pact over obstacles to its grain and fertilizer exports.

Wheat and corn exports out of the Black Sea region are at risk again as Ukrainian officials say Russia is taking action to block inspections of ships under the Black Sea grain initiative.

Kansas typically accounts for 25% of the nation's winter wheat production, but ongoing drought is weighing on overall crop conditions. Farmers are now facing the possibility of increased abandonment this year.

As Ontario, Canada farmer Julie Maw scouts her wheat fields, it’s the moment of truth for the record number of acres planted across the province this year.

Russia badly needs to replace expended and outdated Soviet arms while China needs Russian energy. That is compelling math. This is bad news not just for the heroic people of Ukraine, but Europe and the US.

Russia is now saying it will only extend its Black Sea grain deal if sanctions are lifted on its own agricultural products. The deal, which was brokered last year, allowed for safe passage of Ukrainian ag products. 

A year ago, Russia’s invasion of Ukraine injected uncertainty about global grain supplies into the market. Today, initial concerns have been squashed by the reality of record exports from the Black Sea Region.

The price surge comes as Europe announced a ban on Russian diesel fuel and G7 countries vowed to price-cap Russian oil products.

As of January 2022 there were over 1,000 satellites in orbit that fall into the category of Earth observation.

Global inflation will likely decrease to 6.5% in 2023 and to 4.1% by 2024, according to the International Monetary Fund (IMF) forecast.

Putin said he now wants to renegotiate the U.N.-brokered Ukraine grain export deal, raising concerns the pact may not be able to last. Meanwhile, G7 countries mull over a $44 price cap on Russian oil.

Before Putin’s forces even breached the Ukraine border, fear and speculation drove commodity prices skyward. Concerns are warranted.

On Wednesday, Nutrien said it plans to increase potash output by nearly 1 million tonnes this year to about 15 million tonnes.

The company said: “More than two weeks have passed since Russia’s invasion of Ukraine. From the outset, we have utterly condemned this brutal aggression against a sovereign country."

“Before the war with Ukraine, the President encouraged Russia to produce more oil to help us lower the price at the pump,” says U.S. Sen. Jerry Moran (R-KS). “That’s so hypocritical.”

UPDATE: WASHINGTON (AP) - Biden: US ban on Russian oil a 'powerful blow' to 'Putin's war,' warns Americans 'defending freedom is going to cost.'

UPDATE: 03/02 4:23 pm-EST-There are reports a missile struck a vessel flying under the flag of Bangladesh in Ukraine.

Nutrien Ltd, the world's biggest potash miner, could boost production by up to 29% in coming years, depending on any sanctions facing rival producers

AgriTalk Host Chip Flory and Pro Farmer policy analyst Jim Wiesemeyer discuss plans Congress will probably have these last weeks of 2021, including the debt ceiling and the Build Back Better plan in the Senate.

Following years of abundant global supplies, an accident in early March made the industry nervous about supplies and production.

The U.S. Commerce Department has recommended that President Donald Trump impose tariffs on aluminum imports from all countries.