Reuters was first to report that Russia was withdrawing from the UN-brokered agreement for a wartime safe shipping channel for Ukraine’s grain exports. The Monday announcement pushed global wheat prices sharply higher. U.S. wheat futures also jumped 8.5% on Wednesday and European grains soared after Reuters reported, ahead of competition, that Moscow would deem all ships traveling to Ukrainian ports to be potential carriers of military cargo.
Energy
Black Sea grain deal: Russia refuses to renew and says no guarantees for ships now
17 July 2023, 5:54 pm 1 minute
Market Impact
The Monday announcement pushed global wheat prices sharply higher. U.S. wheat futures also jumped 8.5% on Wednesday and European grains soared after Reuters reported, ahead of competition, that Moscow would deem all ships traveling to Ukrainian ports to be potential carriers of military cargo.
Article Tags
Topics of Interest: Energy
Type: Reuters Best
Sectors: Commodities & Energy
Regions: Europe
Countries: Russia
Win Types: Speed
Story Types: Exclusive / Scoop
Media Types: Text
Customer Impact: Important Regional Story
