The prices for grain crops exported by Ukraine jumped by almost 8% during morning trading on October 31. This happened against the backdrop of Russia’s exit from the “Grain Transfer”, writes Bloomberg.
At the opening of bidding in Chicago, wheat went up by 7.7%, corn – 2.8%. After that, the prices fell slightly. By noon, wheat growth was 5.8% to $ 8.78 per buffet (35-36 liters – ed.), And for corn – 2.6% to $ 6.99 per boosel (35-36 liters – ed.).
Continuation of growth has not yet been followed. The UN, Turkey and Ukraine continued to export within the framework of the Black Sea Grain Initiative (“Grain transaction”), warning Russia about this.
“Ukrainian grain on the world market will not be enough, the supply is and so limited. The market will have to find supplies somewhere else, and there are few such places,” said Comonwealth Bank of Australia Tobin Gori
Recall, Russia announced the termination of participation in an agreement on their export from Ukrainian ports.