# Ukraine seeks changes to the Black Sea Grain Initiative

> Ukraine plans to renegotiate the Black Sea Grain Initiative, which expires March 18, and seek a one-year extension instead of three-month renewals. Kyiv also wants more inspection teams in Turkish waters to clear a growing ship queue and may add Mykolaiv port and other commodities. Ukraine's dry bulk exports fell 77.8% in the first year of war, per BIMCO.

- Date: 2023-02-27 · published 2023-02-27T12:00:00.000Z
- Category: geopolitics · region Black Sea · magnitude medium
- Page: https://feedsoft.ai/events/14418-ukraine-seeks-changes-to-the-black-sea-grain-initiative
- Commodities: [Corn](https://feedsoft.ai/c/CORN.md), [Wheat (SRW)](https://feedsoft.ai/c/WHEAT.md)

## Why it matters

A growing inspection queue is already constraining export volumes, which tightens near-term corn and wheat supply. Renewal risk adds to the upside for prices if the terms are not settled.

## Read by commodity

- CORN: bullish ▲
- WHEAT: bullish ▲

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| CORN | 2023-08-01 | [Update from the Office of the UN Coordinator for the Black Sea Grain Initiative](https://feedsoft.ai/events/14376-update-from-the-office-of-the-un-coordinator-for-the-black-sea-grain-initiative.md) | -2.3% | -2.8% |
| CORN | 2023-11-14 | [The Black Sea Grain Initiative: What was achieved? Why was it important? \| United Nations](https://feedsoft.ai/events/14347-the-black-sea-grain-initiative-what-was-achieved-why-was-it-important-united.md) | -0.7% | -2.2% |
| CORN | 2022-06-15 | [Unblocking the Black Sea for Ukrainian Grain \| RAND](https://feedsoft.ai/events/14481-unblocking-the-black-sea-for-ukrainian-grain-rand.md) | -1.6% | +0.4% |
| CORN | 2023-03-01 | [Talks on extending Black Sea grain deal start in a week - Ukraine](https://feedsoft.ai/events/14414-talks-on-extending-black-sea-grain-deal-start-in-a-week-ukraine.md) | +2.0% | +1.4% |
| CORN | 2022-05-26 | [Black Sea ports still the best way to get Ukraine's grain moving fast \| Reuters](https://feedsoft.ai/events/14484-black-sea-ports-still-the-best-way-to-get-ukraine-s-grain-moving-fast-reuters.md) | -4.6% | -3.2% |
| WHEAT | 2023-08-01 | [Update from the Office of the UN Coordinator for the Black Sea Grain Initiative](https://feedsoft.ai/events/14376-update-from-the-office-of-the-un-coordinator-for-the-black-sea-grain-initiative.md) | +0.4% | -7.2% |
| WHEAT | 2023-11-14 | [The Black Sea Grain Initiative: What was achieved? Why was it important? \| United Nations](https://feedsoft.ai/events/14347-the-black-sea-grain-initiative-what-was-achieved-why-was-it-important-united.md) | +2.7% | +0.3% |
| WHEAT | 2022-06-15 | [Unblocking the Black Sea for Ukrainian Grain \| RAND](https://feedsoft.ai/events/14481-unblocking-the-black-sea-for-ukrainian-grain-rand.md) | -2.3% | -13.8% |

## Sources

- ukragroconsult.com: https://ukragroconsult.com/en/news/ukraine-seeks-changes-to-the-black-sea-grain-initiative/

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