Wheat, Corn Rise With Ukraine Grain Deal Days Away From Expiring
Wheat harvest on a field near Novosofiivka village, Mykolaiv region, Ukraine.
Photographer: Anatoli Stepanov/AFP/Getty Images
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Wheat and corn futures rose for a second session as uncertainty looms over the Ukraine grain deal nearing its expiration.
The Black Sea Grain Initiative — which has allowed for crop shipments to move out of the key supply hub — is up for renewal Monday, and Russia hasn’t made any statements about extending the deal, Interfax reported Friday. Russian President Vladimir Putin said Thursday the country is still deliberating whether to extend the pact, arguing that its interests haven’t been taken into account. The United Nations has yet to receive a reply on a proposal sent to Russia to salvage the deal.