# A Trade Hope: The impact of the Black Sea Grain Initiative | UNCCD

> The UNCTAD resource describes the July 2022 Black Sea Grain Initiative and a parallel UN-Russia memorandum that facilitated exports of food and fertilizers. It states that the agreements have brought down food costs and stabilized markets, though progress remains fragile and price pressures persist.

- Date: 2023-01-01 · published 2023-01-01T12:00:00.000Z
- Category: policy · region Global · magnitude low
- Page: https://feedsoft.ai/events/14424-a-trade-hope-the-impact-of-the-black-sea-grain-initiative-unccd
- Commodities: [Wheat (SRW)](https://feedsoft.ai/c/WHEAT.md), [Corn](https://feedsoft.ai/c/CORN.md), [Urea](https://feedsoft.ai/c/UREA.md)

## Why it matters

Continued functioning of these agreements limits upside risk in grain and fertilizer prices, though currency weakness in importing countries keeps local feed costs elevated.

## Read by commodity

- CORN: neutral
- UREA: neutral
- WHEAT: neutral

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| WHEAT | 2018-01-24 | [Black Sea Grain-2018: European Commission expert to make an outlook on Ukraine-EU grain and food trade](https://feedsoft.ai/events/66838-black-sea-grain-2018-european-commission-expert-to-make-an-outlook-on-ukraine.md) | +1.3% | +2.7% |
| WHEAT | 2025-05-14 | [U.S. grains: Soybeans hit nearly 10-month high on biofuel and trade hopes - Grainews](https://feedsoft.ai/events/9504-u-s-grains-soybeans-hit-nearly-10-month-high-on-biofuel-and-trade-hopes-grainews.md) | -3.8% | -2.9% |
| WHEAT | 2018-12-17 | [USDA Launches Second Round of Trade Mitigation Payments](https://feedsoft.ai/events/61569-usda-launches-second-round-of-trade-mitigation-payments.md) | +0.8% | +0.2% |
| WHEAT | 2019-01-01 | [Overview of the Agricultural Improvement Act of 2018 \| Oklahoma State University](https://feedsoft.ai/events/61078-overview-of-the-agricultural-improvement-act-of-2018-oklahoma-state-university.md) | +1.3% | +3.8% |
| WHEAT | 2017-07-19 | [Preventive trade policies restrict export of key agri commodities: stu](https://feedsoft.ai/events/69947-preventive-trade-policies-restrict-export-of-key-agri-commodities-stu.md) | -2.9% | +0.4% |
| CORN | 2018-01-24 | [Black Sea Grain-2018: European Commission expert to make an outlook on Ukraine-EU grain and food trade](https://feedsoft.ai/events/66838-black-sea-grain-2018-european-commission-expert-to-make-an-outlook-on-ukraine.md) | +1.0% | +1.6% |
| CORN | 2020-12-01 | [Farmers Have Received $7.7B in Trade Aid to Date \| Feed & Grain](https://feedsoft.ai/events/49635-farmers-have-received-7-7b-in-trade-aid-to-date-feed-and-grain.md) | -0.4% | +1.4% |
| CORN | 2020-01-27 | [Chinese Grain Trade Waiting on Official Rules, Guidance on How to Implement Trade Deal](https://feedsoft.ai/events/54946-chinese-grain-trade-waiting-on-official-rules-guidance-on-how-to-implement.md) | -1.2% | -1.8% |

## Sources

- unccd.int: https://www.unccd.int/resources/unccd-library/trade-hope-impact-black-sea-grain-initiative

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