Analysis

Russia-Ukraine grain corridor deal tested by port missile strikes

By Ed Scamps, Cloudbreak Grain Marketing
July 29 2022 - 1:00am
Russia-Ukraine pact put to test

Global wheat markets remain in a strong downward trend, pressured by news that Ukraine, Russia, Turkey, and the UN signed an agreement to allow bulk grain exports from three Ukraine ports over the next 120 days. However not 24 hours after the deal was brokered, two cruise missiles hit the Odesa port in Ukraine, and further news from Tuesday is that more port infrastructure has been attacked in Mykolaiv. This has resulted in the markets clawing back losses that occurred after the export corridor deal.

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