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The World’s Food Security Is at Stake as Russia Exits Grain Deal

  • Wheat is set for a price swing upward as market opens in Asia
  • Leaders scramble to save pact that helped stabilize market
A ship coming from Ukraine loaded with grain is anchored in Istanbul prior to its inspection, on Oct. 11, 2022.
A ship coming from Ukraine loaded with grain is anchored in Istanbul prior to its inspection, on Oct. 11, 2022.

Photographer: Yasin Akgul/AFP/Getty Images

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Traders are bracing for a fresh spike in grain prices after Russia’s exit from a deal allowing Ukraine crops to move from the Black Sea to the countries most in need of them roils markets anew.

The sudden move by Russia has left leaders scrambling to rescue the UN-and-Turkey-brokered agreement credited with saving vulnerable populations from risk of starvation.