# Ukraine Black Sea grain export deal extended, UN and Turkey say | Russia-Ukraine war News | Al Jazeera

> Turkey and the UN announced that the Ukrainian Black Sea grain export deal was renewed on March 18, 2023, before its Saturday expiry. Russia said the extension was 60 days, while Ukraine said 120 days, and more than 11 million tonnes of farm products had shipped from three ports.

- Date: 2023-03-18 · published 2023-03-18T12:00:00.000Z
- Category: geopolitics · region Black Sea · magnitude medium
- Page: https://feedsoft.ai/events/14408-ukraine-black-sea-grain-export-deal-extended-un-and-turkey-say-russia-ukraine
- Commodities: [Corn](https://feedsoft.ai/c/CORN.md), [Wheat (SRW)](https://feedsoft.ai/c/WHEAT.md)

## Why it matters

Renewal keeps Ukrainian corn and wheat flowing, reducing supply risk and weighing on feed grain prices. The disagreement over duration leaves a future risk of disruption.

## Read by commodity

- CORN: bearish ▼
- WHEAT: bearish ▼

## Linked price moves

| Commodity | Date | Window | Change % | z-score | Why linked |
| --- | --- | --- | --- | --- | --- |
| WHEAT | 2023-03-20 | 1 | -3.2% | -3.1 | Coverage of the same extension, with Russia and Ukraine disagreeing on its length, shows that export flows were continuing, which supports a weekend-to-Monday sell-off. |

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| CORN | 2021-02-21 | [Ukraine, Russia ink deal to export grain on Black Sea](https://feedsoft.ai/events/48492-ukraine-russia-ink-deal-to-export-grain-on-black-sea.md) | +1.6% | -3.4% |
| CORN | 2024-02-04 | [Turkey to discuss 'new mechanism' for Ukraine Black Sea grain exports with Russia, minister says](https://feedsoft.ai/events/14322-turkey-to-discuss-new-mechanism-for-ukraine-black-sea-grain-exports-with-russia.md) | -4.6% | -6.1% |
| CORN | 2022-11-17 | [Black Sea grain export deal extended, but Russia wants more on fertiliser exports](https://feedsoft.ai/events/14436-black-sea-grain-export-deal-extended-but-russia-wants-more-on-fertiliser-exports.md) | -1.7% | -4.9% |
| CORN | 2023-03-18 | [Black Sea Grain Initiative extended on deadline day \| UN News](https://feedsoft.ai/events/14406-black-sea-grain-initiative-extended-on-deadline-day-un-news.md) | -0.0% | +0.4% |
| CORN | 2023-05-17 | [Ukraine Black Sea grain deal extended for two months \| Reuters](https://feedsoft.ai/events/14391-ukraine-black-sea-grain-deal-extended-for-two-months-reuters.md) | +2.4% | +0.5% |
| WHEAT | 2021-02-21 | [Ukraine, Russia ink deal to export grain on Black Sea](https://feedsoft.ai/events/48492-ukraine-russia-ink-deal-to-export-grain-on-black-sea.md) | +0.7% | -0.7% |
| WHEAT | 2024-02-04 | [Turkey to discuss 'new mechanism' for Ukraine Black Sea grain exports with Russia, minister says](https://feedsoft.ai/events/14322-turkey-to-discuss-new-mechanism-for-ukraine-black-sea-grain-exports-with-russia.md) | -1.3% | -9.3% |
| WHEAT | 2022-11-17 | [Black Sea grain export deal extended, but Russia wants more on fertiliser exports](https://feedsoft.ai/events/14436-black-sea-grain-export-deal-extended-but-russia-wants-more-on-fertiliser-exports.md) | +1.0% | -0.5% |

## Sources

- aljazeera.com: https://www.aljazeera.com/news/2023/3/18/russia-ukraine-black-sea-grain-deal-extended-un-turkey

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