The price of wheat fell by more than 1% after rising against the background of the withdrawal of the Russian Federation from the grain deal
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September futures price for wheat Chicago Mercantile Exchange fell to $6.54 per bushel on July 17. This is about 1.1% less compared to the close of previous trading. The cost of December futures for corn decreased by 1.5% to $5.06 per bushel.
On July 17, Russia announced the suspension of participation in the grain deal with Ukraine, the UN and Turkey. After that, the price of wheat on the Chicago Stock Exchange grew by 3.4% to $6.84 per bushel. The price of corn rose by 2.3% to $5.26 per bushel.
The grain deal was concluded between Russia, Ukraine, Turkey and the UN in the summer of 2022. It envisaged the export of Ukrainian grain across the Black Sea and the removal of obstacles to the supply of Russian fertilizers and food. The grain deal ended today, July 18, due to unfulfilled demands made by Russia.
On the prospects for the resumption of the transaction – in the material “Kommersant” “Grain cutting”.
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