Fed Chairman Jerome Powell faces the tough challenge of presenting a unified voice on Fed policy from the most divided Fed in years.Market Insiderread more
Beijing is still short on details on how it will respond to new U.S. tariffs on Chinese goods.World Economyread more
Falling air cargo demand could be flashing warning signs about the broader economy.Transportationread more
U.S. Secretary of State Mike Pompeo says Huawei CFO Meng Wanzhou, who is under house arrest in Canada and facing extradition to America, is not a bargaining chip in the trade...Technologyread more
Target's latest earning report shows how these investments are driving traffic and sales at a time when other retailers are struggling.Retailread more
The chip, called the Ascend 910, was first unveiled in October last year and is aimed at data centers.Technologyread more
Brazilian President Jair Bolsonaro hit back at French leader Emmanuel Macron, after he urged dialogue among G-7 leaders on the rising number of fires in the Amazon rainforest.World Politicsread more
Investors are rushing to get a piece of its privately held rival Impossible Foods before it goes public, according to the Wall Street Journal.Food & Beverageread more
"The economy may be in good shape now, but if we keep getting more and more tariffs it could deteriorate," Jim Cramer says.Mad Money with Jim Cramerread more
Local governments commonly share single service providers, making many vulnerable at once. On top of this, ransomware has often been used to mask more targeted, malicious...Technologyread more
Google says it shut down hundreds of YouTube channels tied to misinformation around the Hong Kong protests.Technologyread more
* Three cooperatives struck alliance to revive grain exports
* French exports eroded by cheap, good-quality Black Sea supply
* Some traders say exporters are waking up to the challenge
* Others still see France vulnerable to losing Algerian market
PARIS, July 22 (Reuters) - A French export alliance of grain cooperatives to take on the challenge of Black Sea supplies may not be enough to stop the EU's top exporter losing the vital Algerian market to Russian wheat, traders and analysts said.
The unveiling this month of Grains Overseas, an unprecedented alliance in which InVivo, Axereal and NatUp will combine soft wheat and feed barley exports outside the European Union, is a response to booming Russian and Ukrainian shipments.
Russia's rise to become the world's biggest wheat exporter has reduced French sales in importing countries like Egypt and Morocco, making France more reliant on Algeria, whose tender requirements effectively preclude Russian wheat.
In the 2018/19 season to June 30, France shipped close to 10 million tonnes of soft wheat outside the EU, compared with 12 million-plus levels seen earlier this decade.
Russian exports fell back from a record-breaking 2017/18, but at 36 million tonnes held well above an EU total of 21 million.
Grains Overseas, which will involve the merging of trading desks and joint procurement, is aimed at maintaining large volumes of French grain in North Africa while avoiding financial losses that have hurt trading desks in recent years.
"This could be a shake-up for the French sector so it realizes it's not alone in export markets," one trader said. "The fact you've got three big co-ops involved may force the French market to compete on international prices."
France is also coming to terms with the fact Black Sea supplies often have an edge on quality as well as price.
Family-owned Soufflet, another major French grain exporter, last year launched a new port facility on the Atlantic coast, notably aimed at sorting grain more effectively to meet the requirements of milling clients in Africa.
But others warn that France is barely waking up to the rise of the Black Sea region.
Russia has plans to invest tens of billions of dollars to 2035 in the grain sector and is actively seeking access to countries like Algeria and Saudi Arabia that are crucial to EU exports.
"The day that Algeria turns to Russia, the French are doomed," one grain analyst said.
"Until they can compete on quality and price with the Black Sea, the French co-ops can consolidate all they want, it won't change anything."
Shipments to Algeria made up just over half of French soft wheat exports outside the EU in 2018/19. A strict limit on bug damage currently prevents Black Sea origins from being offered in Algeria's tenders.
"If Algeria changes its tender terms, French prices will lose 10 euros overnight," one trader said. "Where would French wheat go instead?"
French milling wheat currently trades at around 170-180 euros a tonne.
Budgetary constraints and a clearout of officials in an ongoing political crisis could encourage Algeria to change tack and accept cheaper Russian supplies, some traders say.
Uncertainty over Algeria's future import strategy has been heightened by the suspension of the head of state grain agency OAIC in a corruption probe.
InVivo acknowledges the risks in Algeria.
"Since we're in a fragile position today, if we gain another two, three years (without Black Sea competition) that would help," InVivo Chief Executive Thierry Blandinieres said.
"I don't know if we'll manage to." (Reporting by Valerie Parent and Gus Trompiz in Paris, additional reporting by Polina Devitt in Moscow; Editing by Elaine Hardcastle)