Ukraine Crop-Deal Renewal Still Unresolved a Day Before It Ends
- Kyiv resisted Russian proposal for shorter 60-day extension
- UN and Turkey-brokered deal has bolstered Ukraine crop exports
An UN-chartered vessel is loaded with Ukrainian wheat at the port of Chornomorsk in Ukriane.
Photographer: Oleksandr Gimanov/AFP/Getty ImagesThis article is for subscribers only.
The extension of the deal that’s bolstered Ukraine’s crop exports is still clouded by uncertainty, as negotiations continue the day before the existing term ends, sending prices up.
Futures for wheat and corn — the top two commodities shipped under the deal — had their first weekly gains in a month in Chicago. Wheat rose 4.4% this week, while corn gained 2.8% on its its best week since January. Corn has also been rising on stronger demand —the US Department of Agriculture announced flash sales of 2.2 million tons to China this week.