
Russia announced in October 2022 that it was quitting the UN and Turkey-brokered grain deal, citing an alleged Ukrainian attack on its fleet, then reversed course after Turkish mediation and Ukrainian written guarantees. The article assesses the deal as functional but vulnerable to Russian suspension at any time.
The deal's fragility means any renewed suspension could quickly remove Ukrainian grain from world markets, supporting corn and wheat prices.
After 323 past bullish geopolitics events, Corn moved a median +0.5% over 5 sessions (57% higher; middle half -1.5% to +2.9%), and +0.9% over 20.
After 361 past bullish geopolitics events, Wheat (SRW) moved a median +0.7% over 5 sessions (58% higher; middle half -1.4% to +3.7%), and +1.3% over 20.
Moves of each commodity's benchmark from the last close before the event. Historical reads pool past events of the same kind; they describe what happened, not what will. Not investment advice.