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03-05-2014 10:48 AM
Traders still shun new grain deals in Ukraine - minister
KIEV, March 5 (Reuters) - Foreign trading houses have not resumed concluding new grain exports contracts due to continued tensions between Ukraine and Russia, Ukraine's Agriculture Minister Ihor Shvaika said on Wednesday.
"They are still waiting and there are no new contracts," Shvaika told Reuters.
Ukraine said on Wednesday it hoped the crisis in the Crimea region, where Russian forces have taken over buildings and military installations, could soon be resolved through dialogue.
Political instability and violence had caused some traders in Ukraine, the world's third-biggest maize exporter, to hold back from agreeing new contracts, while Russian maize export prices have been rising for two weeks. (Full Story)
Ukrainian grain lobby UAC said that traders were continuing grain exports from terminals in Crimea despite tensions.
UAC said in a statement 45,000 tonnes of Ukrainian maize had been sent from terminals in Sevastopol to Italy and Spain in the last two days.
But the lobby said that it expected a decrease in shipments in the near future.
Ukraine, a leading grain seller, said this week it had exported around 25 million tonnes of grain so far this season and planned to ship an additional 8.7 million tonnes in the remaining four months of this season which runs from July to June.
03-05-2014 11:28 AM
The EU offer of $15 billion in aid seems like a great boost to Ukraine's prospects - but I don't think Putin will let it happen. The whole point is to keep Ukraine completely dependent either through a puppet government or boots on the ground.
03-05-2014 12:02 PM
I have mixed feelings on that. Apparently the last kleptocracy cleaned out the country's treasury of billions, leaving essentially nothing (I'll guess Putin had a hand in that). The current government, such as it is, has nothing to work with and many Ukraine farmers, especially in the wheat growing and drier west have had severe problems with about every third crop.
As long as Russua occupies I don't mind if their crop can't be sold through the Black Sea.
03-05-2014 12:28 PM
The russian proping up of the former president, the manipulation of the ukraine elections, the bleeding of the treasury and every other transaction, all became obvious to the people in the last couple years. I think the ports are the reason for the occupation---- when your game is scalping commerce, commerce needs to keep flowing. shooting protesters is bad PR, Economic squeeze will strave out EU desires.
03-05-2014 06:48 PM
expectd mesns there is 8 mmt there to export whn things clear some. grown grain will be sold. se 100 yrs of history.
8 /4 mo is 2 mmt short vs their plans we consume ~ 2 a day world wide. there is no crisis, just a poor people unable to sell one of teh few things they vave. Putinis cruel.power hungry..a s s
US SRW is in high supply, been going down fo 2 yrs +, lets see if this reaction rally fails once again.
opportuity for producers to forward 15%,, use seasonals and events to spread out maarketings
vs trying to be a hero.
works in case you have not noticed..
03-05-2014 08:28 PM - edited 03-05-2014 08:35 PM
from my research - the world W stocks/use has been trending tighter for about 3 yrs, with the exception of 3 and 4 quarters ago --was a slight uptick.
THE MARKET has lagged that trend for a while -- some energy has built during price discount....gotta consider a bunch of factors -- only one being -- on the surface, soy is tighter in US than Wheat - we all agree on that.
however, since 1/30 W up 17% in price - soy only up 14% - why is this?
an objective observer must consider the greater acceleration of one system over another -- price and price vs. time action is probably the single most variable of a commodity that is un-arguable or most widely agreed upon -- -- -- -- -- -- -- -- --
also, commercials were about as historically net long as in Corn at the lows -- this is noteworthy to behavior.