Russia Suspends Participation in Black Sea Grain Deal

On Saturday, Russia announced that it is suspending participation in the U.N. brokered grain deal to move grain out of Ukraine.

The move, according to Russia, is in response to a drone attack on it’s fleet in the port city of Sevastopol. According to an article from Reuters, Russia said in a statement it could not “guarantee safety of civilian ships” travelling under the pact after an attack on its Black Sea fleet on Saturday.

On Sunday, the U.N. along with Turkey and Ukraine have said they have a plan in place to move 16 ships (12 outbound and 4 inbound) on Monday, October 31st despite Russia backing out of the grain deal.

Wheat markets overnight into Monday shot higher amid the ongoing concern over the grain deal and whether or not it would continue.

This is on-going, developing story. Read more from Reuters here: https://www.reuters.com/world/europe/russia-suspends-participation-deal-ukraine-grain-exports-tass-2022-10-29/

Related articles

Thursday and Friday, November 24th and 25th, 2022 Programs

***No video interviews for our holiday programs on Thursday and Friday. Markets were open for a shortened session on Friday as well. Below are links to our Thursday and Friday episodes with various interviews...

Biden Wants Rail Unions, Freight Railroads to Settle Contract Dispute Themselves

President Biden wants rail unions and freight railroads to resolve their long-running contract dispute themselves, without saying publicly if he’ll intervene or ask Congress to do so, barring an agreement. Biden Press Secretary Karine Jean-Pierre...

Wednesday, November 23rd, 2022 Video and Audio Program

Overall, trade on Wednesday was fairly quiet headed into the Thanksgiving holiday. We did find some late buying interest in grains on the session and in turn, slipped lower in cattle and hogs on...

Farm State Senators Vent Over High Diesel Prices 

High input prices helped fuel debate over the next farm bill at a recent Senate Ag Committee hearing. High diesel prices mean high food prices, as farmers and truckers struggle to pay an average...

USDA Invites Producers to Respond Online to the 2022 Census of Agriculture

The USDA mailed survey codes to all known U.S. ag producers with the invitation to respond online to the 2022 Census of Agriculture at agcounts.usda.gov. The ag census is the nation’s only comprehensive and impartial...

Latest articles

%d bloggers like this: