Grain deal talks resume between Russia, UN as deadline nears
by the United Nations and Turkey last July, aimed to prevent a global food crisis by allowing Ukrainian grain blockaded by Russia’s invasion to be safely exported from three Ukrainian ports.Moscow has already signaled it will only agree to an extension if restrictions affecting its own exports are lifted, but many diplomats and senior officials, including Turkish Defence Minister Hulusi Akar, are optimistic that the deal will be renewed.
United Nations trade official Rebeca Grynspan and aid chief Martin Griffiths arrived at the UN European headquarters in Geneva on Monday morning, without making a comment. “Wheat and corn markets are weaker today as the talks start about extending the safe shipping agreement for Ukraine’s exports,” said Matt Ammermann, StoneX commodity risk manager.“As such a large wheat and corn exporter, Ukraine’s supplies are vital to world markets.”Wheat prices on the Chicago Board of Trade Wv1 were down 0.9 per cent at $6.73-3/4 a bushel at 1152 GMT while corn futures Cv1 had fallen 1 per cent to $6.11-1/4 a bushel.
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