Wheat on the Chicago Stock Exchange rose by 3.4% against the backdrop of Russia’s suspension of participation in the grain deal
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Wheat on the stock exchange in Chicago in the morning grew in price by 3.37%, to $6.84 per bushel. As of 12:47 Moscow time, the September futures for wheat on Chicago stock exchange rises in price by 2.95%, to $6.81 per bushel.
Wheat began to add in value after today, July 17, the Kremlin announcedthat the operation of the grain deal is actually suspended, as Russia is waiting for the fulfillment of its conditions. The authorities assure that there is no connection between the attack on the Crimean bridge and the extension of the agreement. Vladimir Putin declaredthat Russia could suspend participation in the deal if the conditions set by it remain unfulfilled.
A grain deal on the export of grain from the Black Sea ports was concluded between Ukraine and Russia through the mediation of Turkey and the UN on July 22, 2022. The second part of the agreement is a memorandum between Russia and the UN on lifting restrictions on the export of Russian agricultural products. The agreement expires today, July 17th.
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