An agreement between Russia and Ukraine to maintain an export passage through the Black Sea will end in two weeks.
While negotiations continue—the Russians do not appear motivated in extending the agreement for a fourth time.
Grain shipments through the Black Sea have dropped off dramatically over the last several weeks, according to the Jade Delafraye–the global media manager for Argus Agriculture, based in London.
Even though news on the Black Sea corridor can move wheat prices up or down, Delafraye says global wheat supplies are more than adequate with surplus stocks in the European Union, Russia and Australia
Ukrainian farmers will seed less land for a second straight year while the war with Russia drags on.
Jade Delafraye is the global media manager for Argus Agriculture, based in London. She made her comments on a webinar on Thursday.
