Grains Recover from Russian Announcement
Strengthening demand counters initial slump on news of end to export ban.
Compiled by staff
Published: May 31, 2011
U.S. grain prices followed Europe lower after Russia lifted its grain export ban, but strengthening demand prospects are already bringing the market back. Initially, the overnight wheat market slumped on news that Russia would end its ban July 1. The ban, caused by severe crop damaging drought that bit into supplies took Russia out of the international wheat market, but the country is poised to return to the market soon.
Market Analyst Arlan Suderman and Farm Broadcaster Pam Jahnke talk about this issue, along with other factors impacting the market. You can listen to their conversation using the audio player on this page.
Arlan Suderman is Market Analyst for Farm Futures magazine and FarmFutures.com. He has served on the staff of Farm Progress Cos. since May 2000, providing market analysis and commentary for its family of 18 state and regional publications. His Afternoon Recap provides market analysis on this site each afternoon that the grain trade is open. Suderman also provides real-time market commentary via Twitter at twitter.com/ArlanFF101. Suderman brings a wealth of hands-on experience to the table after completing his Certified Crop Advisor status in 1997 while serving in the Kansas Extension Service.
Pam Jahnke is Farm Director of the Wisconsin Farm Report that is carried on 16 stations in Wisconsin. Known as the "Fabulous Farm Babe" Pam studied broadcast journalism and broad area agriculture at the University of Wisconsin - River Falls. After college, Pam moved into her chosen field, doing farm broadcasting, radio and television, from Green Bay to Eau Claire, WI - and she's never looked back. Pam often says she feels like farm broadcasting and communicating on behalf of food producers is exactly what she was made for. Pam has been named "Friend of Agriculture" by the Wisconsin Department of Agriculture for her assistance in raising awareness of the "Harvest of Hope" program. She has also served as president of the National Association of Farm Broadcasting.
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Tagged: farm, wheat, farmfutures, farmfutures.com, arlan suderman
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