Russia OKs Shipments from Ukraine Again
On Thursday, a resumption of grain shipments from Ukrainian Black Sea ports, after Russia rejoined an international agreement allowing safe passage of Ukraine cargo ships. That announcement came after days of uncertainty after Vladimir Puttin’s government temporarily withdrew from the original agreement. USDA chief economist Seth Meyer said the entire Black Sea region has been volatile over the past several months, leading to volatile grain markets.
"You have FOB prices for Russia and Ukraine being lower because of where that grain ends up or the risk of being able to access it you see improvements when a grain deal occurs.”
The current agreement between Russia and Ukraine brokered by Turkey and is set to expire November 19th. There’s no clear indication at this point if Russia will extend this deal. Currently three Ukrainian ports are allowed shipments to depart, plus overland transport routes of grain.
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