Wheat prices leaped, leading a strong session for grain futures, as a massive attack by Russia on Ukrainian ports shattered hopes for the country’s grain exports, reports the CRM Agri team.
The Black Sea agri-commodities export corridor, which allowed Ukrainian grain and oilseeds to be shipped safely, is now set to expire, after Russia announced it is pausing its participation in the initiative.
Ukraine is producing enough crops, but Russia’s Black Sea blockade is severely limiting how much it can export, according to Ukraine’s Deputy Minister for Economic Development, Trade and Agriculture. Is there a workaround?
