INSUBCONTINENT EXCLUSIVE:
the countries most in need of them roils markets anew.
The sudden move by Russia has left leaders scrambling to rescue the
UN-and-Turkey-brokered agreement credited with saving vulnerable populations from risk of starvation.
The pact reached in July had helped
The latest trade setback threatens to worsen already severe inflation and deepen a global food crisis
global head of grain futures at ED-F Man Capital Markets Inc
in Chicago.
How much of a price jump is harder to predict since the safe-passage deal was already set to expire in mid-November if no
agreement is reached to extend it
Over the weekend, Turkey and the United Nations were working to salvage the agreement, even as Russia said any next steps could only be
determined after a full investigation into an attack on its naval fleet
The two parties, alongside Ukraine, agreed to have vessels carrying food from Ukrainian ports sail on Monday, posing a challenge to Moscow
Chicago wheat was set to tumble 10% in October, the most since June, in part on easing supply worries
Money managers increased their net-bearish positions on the futures to the highest since June 2020, according to the latest weekly US
government data.
Typically, the world relies on the Black Sea region for more than a quarter of annual wheat and barley exports, about a
fifth of its corn cargoes and the bulk of its sunflower oil shipments.
Along with a reduction of exports, the early termination of the
Black Sea deal puts at risk a main export route of fertilizer relied on by farmers to grow ample crops
It also means farmers face a possible lack of storage space for wheat and corn with nowhere to go, said Chris Trant, head of the US
