The world market reacted to Russia’s withdrawal from the Grain Agreement
17.07.2023 - 16:00
After the Russian Federation announced the termination of the Black Sea Grain Initiative, global wheat prices rose sharply.
On the Chicago Stock Exchange on Monday, July 17, wheat prices rose immediately by 6.7% to $6.89 per bushel, writes The Telegraph.The Telegraph.
Read also: Agricultural market in Ukraine and the world. Analysts’ forecasts.
Prices were affected by the statement of Russian officials about the termination of the Grain Agreement, since Ukraine is one of the leading producers of agricultural products in the world and the main player in the wheat market.
As previously reported by USM, on July 17, Russian Foreign Ministry representative Maria Zakharova and Putin’s spokesman Dmitry Peskov announced that the Russian Federation was withdrawing from the Grain Agreement. At the same time, the operation of the “grain corridor” is possible without Russia. Navigation in the Black Sea could be supported by three NATO countries — Romania, Turkey and Bulgaria.
