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Russia’s Putin Extends Ban on Grain Exports

Connie Madon — Fri, 03 Sep 2010 15:00:00 +0000

Filed under: Russia, Economic Data, Commodities, Agriculture

In a surprise and unexpected move, Russian Prime Minister Vladimir Putin told Reuters that he was extending the grain export ban until 2011. “I would like to note that lifting of the export ban can only be considered after next year’s crops have harvested,” Putin said according to Reuters.

Russia is now suffering through its worst drought in nearly 100 years. Grain harvest have been cut by two thirds, down to 60-65 million tons from 97 million tons in 2009.

Continue reading Russia’s Putin Extends Ban on Grain Exports

Russia’s Putin Extends Ban on Grain Exports originally appeared on BloggingStocks on Fri, 03 Sep 2010 10:00:00 EST. Please see our terms for use of feeds.

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Wheat Moves Sharply Higher on Rumors of Drought in Russia

Connie Madon — Tue, 06 Jul 2010 19:20:00 +0000

Filed under: International Markets, Forecasts, Russia, Market Matters, Economic Data, Commodities

The grain markets are weather related. Any change in the normal growing weather pattern sends the markets into turmoil.

The story of the day is Russia. The farm ministry said that Russia will harvest 85 million metric tons of grain, down 5 million tons from the previous forecast. Why is this news? Russia and Canada vie with the U.S. as the second largest world wheat exporter.

Continue reading Wheat Moves Sharply Higher on Rumors of Drought in Russia

Wheat Moves Sharply Higher on Rumors of Drought in Russia originally appeared on BloggingStocks on Tue, 06 Jul 2010 14:20:00 EST. Please see our terms for use of feeds.

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Oil Prices Rebound Despite Bearish Inventory Report

Michael Fowlkes — Wed, 26 May 2010 23:00:00 +0000

Filed under: International Markets, Good news, Russia, Middle East, Economic Data, Oil, Housing, Recession, Financial Crisis

Oil prices have rebounded from yesterday's sell off, despite a larger than expected increase in oil inventories last week.

As we noted yesterday, analysts were expecting to see a 250,000 barrel increase in reserves last week, but the Department of Energy reported today that inventories actually rose by a much greater 2.4 million barrels.

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Oil Prices Rebound Despite Bearish Inventory Report originally appeared on BloggingStocks on Wed, 26 May 2010 18:00:00 EST. Please see our terms for use of feeds.

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Hugo Chavez Racing Toward Economic Peril

Sheldon Liber — Tue, 16 Mar 2010 17:00:00 +0000

Filed under: Rants and Raves, Exxon Mobil (XOM), Venezuela, Avon Products (AVP), Colgate-Palmolive (CL), Procter and Gamble (PG), Kimberly-Clark (KMB), CEMEX S.A.B. de C.V. (CX), Currency

It is mind boggling that Hugo Chavez, the authoritarian President of Venezuela is racing towards a mock socialist political system when the two largest socialist regimes in the world, China and Russia, have done the opposite. Even our long standing communist adversary (now trading partner) Vietnam entered the 21st Century on a capitalist influenced spring loaded economic boom.

BusinessWeek reports in its latest edition that the Chavez government has been taking privately held supermarkets under government control:

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Hugo Chavez Racing Toward Economic Peril originally appeared on BloggingStocks on Tue, 16 Mar 2010 12:00:00 EST. Please see our terms for use of feeds.

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Vladimir Putin on short visit to India

Sunil Kashyap — Mon, 15 Mar 2010 12:38:31 +0000

The visit of the Russian Prime Minister Vladimir Putin was not really planned as the two countries have a regular practice one head of state visiting the other country every year. However, the Indian officials just could not overlook a request for a “working visit” by someone so important on the international political arena.
Putin has cut short his visit by one day and has kept all his engagements strictly related to business. The official delegation he heads includes members of the Russian Telecom major Sistema, a fact that surprised some officials.