Russia Says Grain Supplies Not Affected by Radiation Release
Thursday, November 23, 2017
2017-11-22 13:05:09.665 GMT
By Anatoly Medetsky and Manisha Jha
(Bloomberg) -- A radiation release in the remote Urals region of western Russia hasn’t affected grain supplies from the world’s top exporter of wheat, according to a government agency.
Routine tests, which includes checks for radioactive atoms, showed no contamination of grain that was being prepared for export, according to the government’s grain safety agency.
Mayak, a unit of Russia’s state nuclear power company Rosatom, said the concentration of ruthenium-106 reported by the country’s meteorological service earlier this week posed no health risk.
Wheat futures added 0.2 percent in Chicago. Yesterday, prices rose as much as 1.5 percent amid speculation that Russian exports may slow following the radiation report. Russia’s record crop and fast pace of exports have depressed global prices this year.
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“There could be more to it in the future, but given what we know now it’s a non-factor for the market,” said Matt Ammermann, a commodity risk manager at INTL FCStone Inc. “The reaction has been kind of muted.”
Wheat from southern Urals, the area thought to be the source of the radiation, makes up a very small share of Russia’s exports because it’s far from Black Sea ports. The radiation emission spread as far away as France in late September and was detected by a number of European monitoring stations at the time.
“We are keeping track of this and are monitoring the situation,” said Yulia Koroleva, director of the Federal Center of Quality & Safety Assurance for Grain & Grain Products.
Greenpeace has demanded that Rosatom and law-enforcement agencies investigate the radioactive emission. Mayak has denied being the source of radiation in a statement.
“This must be raising concerns for traders and consumers, said Charles Clack, an analyst at Rabobank International. “It could be a real concern if radiation is detected in the grain supply chain.”
Any worries from international buyers could boost exports of wheat from the European Union and the U.S., which are currently running slower than last year. The spread between Russia’s inland and export prices signals there’s still good demand for Russian wheat, said Arnaud Saulais, a broker at SCB Group in Switzerland.
"I haven’t heard anything from clients" on the radioactive matter, said Saulais. "There’s big production inland, but good demand at ports."
--With assistance from Isis Almeida.
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SCB Group qualifies as a finalist for Best Risk Solutions Provider in the first Global Grain Awards
Friday, November 03, 2017
Over 20 industry leaders will compete across seven different categories on 14 November in Geneva.
SCB Group has been nominated for Best Risk Solutions Provider for 2017 along with Swiss Re Corporate Solutions.
The winner will be announced at the inaugural Global Grain Award, organised by Global Grain Events. The ceremony will recognise the most successful and influential members of the grain and oilseeds industry on 14 November at the InterContinental Hotel Geneva.
The rest of the categories include Trading Excellence, Best Legal Provider, Quality Control, Innovation, Best Global Commodities Finance Bank and Best Shipping & Logistics Provider.
The Awards will be judged independently by a panel of industry experts, including Emily French, Managing Director of ConsiliAgra, and Dan Basse, President of AgResource.
The ceremony will be a perfect opportunity for celebration and networking as it takes place alongside the annual Global Grain Geneva conference which attracts nearly 1000 grains and oilseeds decision makers.
SCB is the world’s largest biofuel brokerage group of companies and is a market leader in European Grains and Softs as well as carbon reduction credit markets. Founded in 2006, the company’s goal is to promote the adoption of a low carbon future. SCB Group has offices in Chicago, New York, Puerto Rico, London, Nyon and Singapore. The firm also offers global expertise in RINS and other government credit markets as well as glycerine, UCO, tallow and paper swaps on biofuels.
For more information visit www.globalgrainevents.com/awards
CME Group Announces First Trades of New Australian Wheat FOB (Platts) Futures
Wednesday, August 23, 2017
SYDNEY, Aug. 6, 2017 PRNewswire
CME Group, the world's leading and most diverse derivatives marketplace, today announced the first trades of the Australian Wheat FOB (Platts) futures contract, that launched on 24 July 2017. The trade that took place on 3 August 2017 was brokered by SCB Group. A total of 60 futures contracts, equaling 3,000 metric tons, were traded.
"We are very excited to see industry interest and support for the new Australian Wheat FOB (Platts) futures contract," said Tim Andriesen, Managing Director, Agricultural Products, CME Group. "This contract further enhances CME Group's already broad range of hedging and trading tools for managing exposure to wheat price risk around the globe, helping us better serve our wheat customers both globally and in Asia Pacific."
"We are very pleased to broker the first Australian Wheat FOB (Platts) futures contract as it finally provides the global wheat market access to the international export price of Australian wheat via a financially-settled contract," said James McKay, a broker at SCB Group. "It gives the trade a chance to better manage price risk and it will provide industry participants greater flexibility with which to run their businesses, whether they are an exporter, Asian consumer or any other business around the world with an interest in Australian wheat."
This new Australian Wheat FOB (Platts) Futures contract complements CME Group's existing suite of Euro-denominated EU Wheat, Soft Red Winter Wheat (SRW), Hard Red Winter Wheat (HRW) and Black Sea Wheat futures contract. For more information on this new Australian Wheat FOB (Platts) Futures contract, please visit:- http://www.cmegroup.com/trading/agricultural/grain-and-oilseed/australian-wheat-fob-futures.html
Source: CME Group
For further information: Media Contacts, Lee Meng Gan, +65.6593.5564, or Donal McCarthy, +44.20.3379.3799, firstname.lastname@example.org, www.cmegroup.com/media-room.html, or Investor Contact, John Peschier, 312.930.8491