# Explainer: What is Russia's problem with the Black Sea grain deal?

> The Black Sea grain deal allows food and fertilizer exports from three Ukrainian ports and has been extended three times, most recently to July 17. Nearly 32 million tonnes of mostly corn and wheat have been exported under it, and no ammonia has yet been shipped despite provision for it.

- Date: 2023-06-16 · published 2023-06-16T12:00:00.000Z
- Category: geopolitics · region Black Sea · magnitude medium
- Page: https://feedsoft.ai/events/14383-explainer-what-is-russia-s-problem-with-the-black-sea-grain-deal
- Commodities: [Corn](https://feedsoft.ai/c/CORN.md), [Wheat (SRW)](https://feedsoft.ai/c/WHEAT.md)

## Why it matters

The deal's uncertain future puts Ukrainian corn and wheat export flows at risk, which supports global grain prices if it lapses.

## Read by commodity

- CORN: bullish ▲
- WHEAT: bullish ▲

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| CORN | 2023-07-17 | [Black Sea grain deal: What's next now that Russia has pulled out?](https://feedsoft.ai/events/35074-black-sea-grain-deal-what-s-next-now-that-russia-has-pulled-out.md) | -8.6% | -12.6% |
| CORN | 2023-07-17 | [Black Sea grain deal expires after Russia quits \| Reuters](https://feedsoft.ai/events/7057-black-sea-grain-deal-expires-after-russia-quits-reuters.md) | -8.6% | -12.6% |
| CORN | 2023-03-17 | [Russia Still Slow-Walking Ukraine Food Exports in Black Sea Grain Deal](https://feedsoft.ai/events/14410-russia-still-slow-walking-ukraine-food-exports-in-black-sea-grain-deal.md) | -1.0% | +1.3% |
| CORN | 2023-06-01 | [Ukraine says Russia again blocking Black Sea grain export deal \| Reuters](https://feedsoft.ai/events/14384-ukraine-says-russia-again-blocking-black-sea-grain-export-deal-reuters.md) | -2.2% | -3.2% |
| CORN | 2022-10-29 | [U.N., Turkey, Ukraine press ahead with Black Sea grain deal despite Russian pullout \| Reuters](https://feedsoft.ai/events/14445-u-n-turkey-ukraine-press-ahead-with-black-sea-grain-deal-despite-russian.md) | -2.2% | -3.8% |
| WHEAT | 2023-07-17 | [Black Sea grain deal: What's next now that Russia has pulled out?](https://feedsoft.ai/events/35074-black-sea-grain-deal-what-s-next-now-that-russia-has-pulled-out.md) | +2.4% | +2.8% |
| WHEAT | 2023-07-17 | [Black Sea grain deal expires after Russia quits \| Reuters](https://feedsoft.ai/events/7057-black-sea-grain-deal-expires-after-russia-quits-reuters.md) | +2.4% | +2.8% |
| WHEAT | 2023-03-17 | [Russia Still Slow-Walking Ukraine Food Exports in Black Sea Grain Deal](https://feedsoft.ai/events/14410-russia-still-slow-walking-ukraine-food-exports-in-black-sea-grain-deal.md) | -3.7% | -6.8% |

## Sources

- reuters.com: https://www.reuters.com/world/europe/what-is-russias-problem-with-black-sea-grain-deal-2023-06-16/

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Data from Feedsoft AI (https://feedsoft.ai/). For information only; not investment advice.