Russia's Bumper Wheat Harvest Consolidates Control of Global Market Amid Ukraine War

Russia's large wheat harvest slashes global prices to 3-year lows
War in Ukraine disrupted exports, cementing Russia's domination of market
Russia enforcing unofficial price floor to support incomes and tax revenue
But inconsistent application allows some buyers to skirt floor in deals
Russia's bumper exports offset concerns about Ukraine shipments
Russia consolidating control over global wheat market amid Ukraine war

yahoo.com

Relevant topic timeline:

8/25/2023

Drought concerns linger and hoist grain markets

Wheat prices decrease due to increased production estimates out of Russia and hot dry conditions, while corn and soybeans increase with support from weather forecasts projecting hot dry conditions.

8/26/2023

‘The Market Is Dead’: Ukraine’s Farmers Count the Cost of Grain Deal’s Collapse

Farmers in Ukraine, such as Valery Kolosha, are facing the consequences of Russia's actions that restrict Ukraine's grain exports.

9/4/2023

Exclusive-Egypt buys nearly half a million tons of Russian wheat in private deal

Egypt's state grains buyer, the General Authority for Supply Commodities (GASC), has purchased around 500,000 metric tons of Russian wheat in a private deal at a price lower than those offered in traditional tenders, as Egypt shifts towards direct purchases in the aftermath of the war in Ukraine disrupting its buying.

9/5/2023

Wall Street Breakfast: Against The Grain

Ukraine's grain export deal with Russia remains uncertain, impacting global grain prices, while Russia continues to export record volumes of wheat and ink deals with other countries. Airbnb hosts in New York face new regulations that ban short-term rentals, potentially setting a precedent for other cities. A lack of homes for sale in the US has pushed up home prices, with the median home-sale price reaching its highest level since October. AI adoption in the healthcare sector is expected to double by 2024, with potential transformative effects.

9/6/2023

Russia: Turkey agrees in principle to handle 1 million tons of grain for Africa

Russia has reached an agreement with Turkey to handle 1 million metric tons of discounted grain that Russia plans to send to Africa with financial support from Qatar, as part of its efforts to court African countries suffering from food shortages.

9/8/2023

War and Weather Threaten Global Food Supplies, But Large Shortages Unlikely

Russia's blockade of Ukrainian grain exports and extreme weather events have raised concerns about global food supplies, but the OECD suggests that the situation may not be as dire as it seems, with adjustments and adaptations being made to production and logistics chains to mitigate potential shocks in the market.

9/9/2023

G20 Calls for Continued Grain Exports from Russia and Ukraine to Ease Global Food Inflation, Especially in Developing Nations

The Group of 20 nations have urged uninterrupted grain exports from Russia and Ukraine to meet the demand in developing countries and reduce global food inflation.