Indian sugar mills have been renegotiating and defaulting on contracts to supply 400,000 tonnes of the sweetener to overseas buyers as prices jumped after the government cut this year’s export quota. After Reuters revealed the news, New York raw sugar futures jumped 2.3% to hit a seven-month peak yesterday. Shares of Indian sugar producers jumped as much as 8% after...

Ukraine wants the Black Sea grain export deal expanded to include more ports and goods and hopes a decision to extend the agreement for at least a year will be taken next week. The deal, which eased a global food crisis by unblocking three major Ukrainian ports during Russia’s invasion, expires on Nov. 19 and briefly appeared imperiled last month...

The government of Trinidad and Tobago is asking the U.S. to authorize Venezuelan gas imports to restart an idled liquefaction train in the Caribbean nation. Trinidad’s past requests for U.S. approval have gone unanswered, but the Biden administration’s willingness to ease some sanctions on Venezuela if President Nicolas Maduro and the opposition progress in talks for a presidential election could...

Brazilian coffee farmers are defaulting on contracts for a second straight year, failing to deliver on pre-agreed sales and exposing trade houses to losses. The defaults, less widespread than last year, have scrambled the coffee market, leaving traders reluctant to agree to forward sales for next year’s crop or the one after.

Mexico is considering direct agreements with farmers in the United States, Argentina, and Brazil to secure non-genetically modified yellow corn imports, citing the country’s deputy agriculture minister, who added that a 2024 ban on genetically modified corn would not be amended. He said Mexico is on track to halve its U.S. imports of yellow corn when the ban comes into...

The Bank of England released images of the first bank notes to feature the portrait of King Charles III.