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Wheat prices recover some ground despite Black Sea pressure

Posted to Maritime Reporter on September 18, 2024

Chicago wheat futures rose Wednesday, after France's agriculture ministry downgraded its crop once again. However, large exports of Black Sea wheat at a low price continued to suppress a rally which drove prices to their three-month highs the previous week.

South Korea, Japan and South Korea report that North Korea fired a missile off the east coast of its country.

Posted to Maritime Reporter on September 17, 2024

SEOUL/TOKYO (Sept. 18) - South Korea and Japan reported that North Korea launched a missile on its east coast Wednesday. This comes days after the country unveiled an uranium enrichment plant and pledged to beef up its arsenal of nuclear weapons.

EU wheat eases up further as Black Sea competition returns to focus

Posted to Maritime Reporter on September 17, 2024

Euronext wheat declined for a second consecutive day on Tuesday, in line with Chicago. Concerns over the escalation of Russia's conflict with Ukraine have subsided as traders return to the export competition due to cheaper Black Sea products.

Wheat prices fall as Black Sea tensions fade

Posted to Maritime Reporter on September 17, 2024

Chicago wheat futures eased Tuesday as geopolitical conflicts between Russia and Ukraine receded and Black Sea wheat exports continued to be a fierce competitor to U.S. Wheat exports. Soy futures rose as traders monitored heat and drought in Brazil, which could threaten soybean seeding.

Analyst APK-Inform estimates that the Ukraine soybean crop in 2024 could reach 6 million tonnes

Posted to Maritime Reporter on September 17, 2024

APK-Inform, an analyst, said that despite the bad weather, Ukraine will likely have a record soybean harvest in 2024 due to its large sowing area. The consultancy estimated that the harvest would be up to 6,000,000 metric tons or 9% higher than 2023.

US announces date for Gulf of Maine Offshore Wind Auction

Posted to Maritime Reporter on September 16, 2024

The U.S. The Interior Department announced Monday that the sale of offshore wind leases for eight areas off Massachusetts, New Hampshire, and Maine will take place on October 29. Why is it important? These areas could produce up to 13 gigawatts (or more) of clean…

Swiss and US win reprieves for America's Cup qualifying

Posted to Maritime Reporter on September 16, 2024

Both Switzerland and the United States kept their America's Cup dreams alive by winning dramatic semi-final races against Britain and Italy, respectively, in the qualifying series. The Swiss and U.S. were both on the verge of elimination in…

Paris wheat drops with Chicago after rally

Posted to Maritime Reporter on September 16, 2024

European wheat futures dropped on Monday, in line with Chicago. This was a technical setback following last week's rally which was fueled by fears over Black Sea supply. The December wheat price on Paris' Euronext fell 2% to 220.50 euro ($245.33) per metric ton.

Yonhap reports three dead in fishing boat capsize off South Korea

Posted to Maritime Reporter on September 16, 2024

Five people were rescued and three died when a fishing vessel capsized off the west coast of South Korea. The coast guard reported this on Monday. Yonhap reported that two South Koreans, and one Indonesian were among the dead. His office reported…

In Nigeria, at least 64 people are believed to have died in a boat accident

Posted to Maritime Reporter on September 14, 2024

Local officials reported on Saturday that at least 64 people are believed to be dead after a boating accident in Zamfara State, in the northwest of Nigeria. On Saturday morning, a wooden boat with 70 farmers on board capsized while transporting them to their farmlands near Gummi town.

China condemns German Navy's transit through Taiwan Strait

Posted to Maritime Reporter on September 14, 2024

China's military condemned Saturday the transit of two German Navy ships through the Taiwan Strait, saying that it increased security risk and sent the "wrong signal". Chinese forces also monitored and warned vessels. China, which claims democratically-governed Taiwan as its territory…

GRAINS-CBOT Wheat reaches 12-week high on Black Sea tensions

Posted to Maritime Reporter on September 13, 2024

Chicago Board of Trade Wheat Futures hit a 12-week-high on Friday, as the escalating tensions between Russia and Ukraine inflicted increased uncertainty over Black Sea exports. Traders have focused their attention on the Black Sea, after Ukraine…

The Black Sea tensions have pushed the CBOT wheat to its 12-week high.

Posted to Maritime Reporter on September 13, 2024

Chicago Board of Trade Wheat Futures hit a 12-week-high on Friday, as the escalating tensions between Russia and Ukraine inflicted increased uncertainty over Black Sea exports. Traders have focused their attention on the Black Sea, after Ukraine…

EU approves 682 million euros in Belgian state subsidies to support offshore wind energy

Posted to Maritime Reporter on September 13, 2024

The European Commission announced that EU regulators had approved a Belgian scheme of state aid worth 682 million euros ($756.54 millions) to support renewable energy offshore wind. The commission stated that the measure would support the construction…

Sailing-British select Swiss for America's Cup Challenger Semi-Final

Posted to Maritime Reporter on September 13, 2024

The United States will be facing Italy in the semi-finals for the America's Cup Challenger Series, which begins this weekend. The four teams will compete to be the first to take on New Zealand in the "Auld Mug", the oldest trophy of international sport dating back to 1851.

The British choose Swiss to compete in the semi-final of the America's Cup Challenger Semi-final

Posted to Maritime Reporter on September 13, 2024

The United States will be facing Italy in the semi-finals for the America's Cup Challenger Series, which begins this weekend. The four teams will compete to be the first to take on New Zealand in the "Auld Mug", the oldest trophy of international sport dating back to 1851.

Italian divers recover video from Mike Lynch's sunken boat

Posted to Maritime Reporter on September 13, 2024

A source familiar with the situation said that Italian Navy divers recovered video surveillance gear from the superyacht which sank near Sicily in late October, killing British tech magnate Mike Lynch, as well as six others. The equipment recovered…

GRAINS-Wheat hovers at near 2-month high amid Black Sea tensions

Posted to Maritime Reporter on September 13, 2024

Chicago wheat futures rose on Friday, hovering near their highest level in two months. Supply concerns increased due to the escalating tensions around the Black Sea region. The corn market rose for the third session in a row despite the U.S.

EU wheat prices fall as USDA data dampens rally over Black Sea risks

Posted to Maritime Reporter on September 12, 2024

Euronext Wheat ended Thursday slightly lower as an unexpected rise in a closely followed forecast for the U.S. Corn Crop encouraged prices to consolidate following a rally related to Black Sea Supply Concerns, traders said. The December wheat contract…

EU wheat runs on as missile strike reports add to Black Sea concerns

Posted to Maritime Reporter on September 12, 2024

Euronext Wheat Futures rose on Thursday for the third consecutive day, reaching a new peak of one month. Reports that a grain ship had been struck by a missile on the Black Sea kept attention on the supply risks in this vital export zone. The gains were modest…

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