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☆ Wheat up 6% after Russia quits Black Sea pact; corn, soy firm
▼ + stars: | 2022-10-31 | by ( Julie Ingwersen | ) www.reuters.com time to read: +2 min

CHICAGO, Oct 31 (Reuters) - U.S. wheat futures jumped 6%, hitting a two-week high, and corn rose 1.6% on Monday as Russia's withdrawal from a Black Sea export agreement raised concerns over global supplies. Chicago Board of Trade December wheat settled up 53 cents at $8.82-1/4 per bushel after reaching $8.93-1/4, the contract's highest since Oct. 14. CBOT December corn ended up 10-3/4 cents at $6.91-1/2 a bushel and January soybeans finished up 19-1/4 cents at $14.19-1/2 a bushel. Reuters GraphicsReuters Graphics"The grain and oilseed markets rose sharply overnight, led by wheat, as food shortage fears rise again after Russia pulls out of the Black Sea trade agreement," StoneX chief commodities economist Arlan Suderman said in a client note. Moscow suspended its participation in the Black Sea deal on Saturday in response to what it called a major Ukrainian drone attack on its fleet in Russia-annexed Crimea.

☆ Wheat climbs 5% to 2-week high as Russia suspends Black Sea agreement
▼ + stars: | 2022-10-31 | by ( Naveen Thukral | ) www.reuters.com time to read: +2 min

Summary Russia suspends participation in Black Sea grain exports dealWheat futures jump 5%, at highest since mid-Oct, corn up 2%Black Sea wheat, corn supplies at risk on Russia withdrawalU.N., Turkey, Ukraine press ahead with grain exportsSINGAPORE, Oct 31 (Reuters) - Chicago wheat futures jumped more than 5% on Monday and corn rose over 2% as Russia's withdrawal from a Black Sea export agreement raised concerns over global supplies. Wheat futures hit a record high of $13.64 a bushel in March. "This is an inflationary move, supporting prices of wheat and corn," said a Singapore-based trader. Moscow suspended its participation in the Black Sea deal on Saturday in response to what it called a major Ukrainian drone attack on its fleet in Russia-annexed Crimea. More than 9.5 million tonnes of corn, wheat, sunflower products, barley, rapeseed and soy have been exported from the Black Sea since July.

☆ Wheat climbs 5.5% as Russia withdraws from Black Sea export agreement
▼ + stars: | 2022-10-31 | by ( Naveen Thukral | ) www.reuters.com time to read: +2 min

Summary Russia suspends participation in Black Sea grain exports dealBlack Sea wheat, corn supplies at risk on Russia withdrawalU.N., Turkey, Ukraine press ahead with grain exportsSINGAPORE, Oct 31 (Reuters) - Chicago wheat futures jumped more than 5% on Monday and corn rose over 2% as Russia's withdrawal from a Black Sea export agreement raised concerns over global grain supplies. "(The market) is going to be overwhelmed in early trade today by Russia suspending its participation in the Black Sea grain corridor during the weekend," said Tobin Gorey, director of agricultural strategy at the Commonwealth Bank of Australia. "Our view has been that wheat futures were adding little premium to prices for the risk that the corridor would close." Moscow suspended its participation in the Black Sea deal on Saturday in response to what it called a major Ukrainian drone attack on its fleet in Russia-annexed Crimea. Wheat futures hit a record high of $13.64 a bushel in March.

☆ Wheat prices jump by nearly 6% after Russia withdraws from vital Ukrainian export deal
▼ + stars: | 2022-10-31 | by ( Holly Ellyatt | ) www.cnbc.com time to read: +3 min

Anadolu Agency | Anadolu Agency | Getty ImagesGlobal wheat prices rose sharply Monday following Russia's withdrawal from the Black Sea grain export deal over the weekend. The increases come after Russia announced Saturday that it was suspending its involvement in the Black Sea Grain Initiative, which allowed vital agricultural products to be exported from several Ukrainian ports. Zelenskyy and Foreign Minister Dmytro Kuleba accused Russia of starting to sabotage the grain deal in September. Antonov told Russian media on Saturday that Kyiv's "reckless actions" had caused Moscow to suspend implementation of the grain deal. Many of the grain ships that left Ukraine in recent months, under the grain deal, were bound for both European and African ports.

☆ Grain deal: Wheat and corn prices rise as Russia withdraws
▼ + stars: | 2022-10-31 | by ( Hanna Ziady | ) edition.cnn.com time to read: +5 min

Ukraine and Russia together account for nearly a third of global wheat exports, according to Gro Intelligence, an agricultural data firm. Russia suspended its participation in the grain deal indefinitely on Saturday, after what it claimed was a drone attack by Ukrainian armed forces on its Black Sea fleet in the Crimean city of Sevastopol. After reaching a record high in March, the UN Food and Agriculture Organization’s global food price index has declined for seven months in a row. Russia’s decision to suspend its participation “is adding immense volatility to global grain prices,” said Tracey Allen, an agricultural commodities strategist at JPMorgan Chase. Twelve vessels left Ukraine’s Black Sea ports on Monday, Ukraine’s Minister of Infrastructure Oleksandr Kubrakov said on Twitter.

☆ Chicago to Convert Famous Business District Office Buildings to Apartments
▼ + stars: | 2022-10-10 | by ( Peter Grant | ) www.wsj.com time to read: 1 min

Chicago’s LaSalle Street is best known as the historic home of the Chicago Board of Trade and most of the city’s largest banks and law firms. Chicago is offering financial help to developers willing to convert aging office towers into residential buildings, a new program that could become a test case for other cities looking to promote these office conversions. City officials said last week they would provide tens of millions of dollars in subsidies to revitalize the LaSalle Street corridor whose landmark office buildings made up the thriving center of Chicago business for decades. Since the pandemic, though, the strip’s mostly vacant streets and towers have come to symbolize the slow pace that employees have been returning to office buildings.

☆ Russia's wheat harvest could hit a record 100 million tons this year, but a perfect storm of economic conditions is keeping it from being exported
▼ + stars: | 2022-09-23 | by ( Huileng Tan | ) www.businessinsider.com time to read: +2 min

Russia's wheat harvest could hit a record 100 million tons this year, according to SovEcon. The country's wheat harvest could hit a record 100 million metric tons this year, according to SovEcon, a research firm focused on Black Sea grains and oilseeds. Russia is the world's top wheat exporter, accounting for about one-fifth of the world's wheat exports, according to US Department of Agriculture data. SovEcon's forecast is a 33% increase over the country's 75.2 million-ton wheat harvest last year, according to the USDA. The inter-government International Grain Council forecasts global wheat production at 792 million tons this year — which is more than its global consumption forecast of 785 million tons, according to the council's report released on Thursday.

[1/3] Cargo ship Despina V, carrying Ukrainian grain, is seen in the Black Sea off Kilyos near Istanbul, Turkey November 2, 2022. The agreement, reached in July, created a protected sea transit corridor and was designed to alleviate global food shortages, with Ukraine's customers including some of the world's poorest countries. So far, some 9.76 million tonnes of agricultural products have been shipped, predominately corn, but also volumes of soybeans, sunflower oil, sunflower meal and barley. A drop in shipments from major exporter Ukraine has played a role in this year's global food price crisis, but there are also other important drivers. At the start of the conflict there were around 2,000 seafarers from all over the world stranded in Ukrainian ports.

☆ The pros and cons of going to graduate school right now, according to academic and business experts
▼ + stars: | 2020-07-09 | by ( Robin Madell | ) www.businessinsider.com time to read: +13 min

Due to the current job market, many recent college graduates are considering going back to school. Could now be a smart time to put your job search on ice and shift gears to graduate school? The prosYou avoid entering a limited job market and possibly stunting your compensationPatrick Mullane, executive director of Harvard Business School Online, explained one benefit of going to graduate school while the economy isn't robust. J. Celeste Walley-Jean, dean at Clayton State University's School of Graduate Studies & Inclusive Engagement, noted that another indicator that the timing may be right to attend graduate school is cost. "If you just graduated and can't find a job, grad school might seem like a great way to ride out the recession.

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