Wheat held losses as grain shipments continued from Black Sea ports even as tensions escalated in the key export region. Benchmark futures in Chicago traded near $6.40 a bushel after sliding 1.9% on Monday.
Russia opened fire on a ship over the weekend to force the vessel to stop for checks, a continuation of hostilities in the waterway after Ukrainian drones attacked Russian vessels earlier this month. Despite the escalation, Rabobank says exports continue from both Ukraine and Russia. Wheat remains 19% lower this year due to bumper harvests. On Friday, the US Department of Agriculture raised its estimate for Russian wheat exports to 48 million metric tons for the 2023-24 season.
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:
South Africa Latest News, South Africa Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Ukraine update: Kyiv’s troops make ‘tactical advances’; Russia fires at cargo ship in Black SeaUkraine’s troops made ‘tactically significant advances’ along the administrative border between Zaporizhia and Donetsk oblasts, according to the military analysts at the Institute for the Study of War.
Source: dailymaverick - 🏆 3. / 84 Read more »
Russian warship fires warning shots on cargo ship in Black SeaMoscow says the vessel did not respond to a halt warning.
Source: TimesLIVE - 🏆 28. / 59 Read more »
UAE's Al Dahra, Abu Dhabi fund sign $500 mln deal to supply wheat to EgyptUAE-based agribusiness Al Dahra and the Abu Dhabi Exports Office (ADEX) signed a $500 million deal to supply Egypt with wheat, a statement said on Monday.
Source: ReutersAfrica - 🏆 31. / 53 Read more »
Algeria relies on Russia’s wheat now more than everAlgeria began to diversify its wheat imports in 2020 after a poor harvest in France. Drought, high temperatures and the Ukraine war have only increased its reliance on Russia. Agribusiness reporter EstelleMaussion has the latest.
Source: TheAfricaReport - 🏆 29. / 55 Read more »
OPINION | South Africa cannot be an economic island in a sea of povertyUnderstanding the historical perspective of how the South African economy came into being is important when considering the economies of the southern African countries, including South Africa itself .
Source: City_Press - 🏆 7. / 72 Read more »
Watch: 'Heart of the Great African Sea Forest' captures an underwater edenWatch: The marine wonderland of Table Mountain National Park's extensive 127km coastline takes centre stage in a captivating short film titled Table Mountain National Park Marine Protected Area – Heart of the Great African Sea Forest:
Source: CapeTownEtc - 🏆 17. / 63 Read more »