# The Black Sea Grain Initiative: What it is, and why it’s important for the world | UN News

> The UN and Türkiye brokered the Black Sea Grain Initiative, signed by the UN, Russia, Türkiye and Ukraine on 22 July 2022, to restore grain and fertilizer exports from Ukraine after Russia's invasion blocked its ports. Ukraine normally supplies about 45 million tonnes of grain a year, and the blockade had pushed up global staple food prices.

- Date: 2022-09-16 · published 2022-09-16T12:00:00.000Z
- Category: geopolitics · region Black Sea · magnitude high
- Page: https://feedsoft.ai/events/14452-the-black-sea-grain-initiative-what-it-is-and-why-it-s-important-for-the-world
- Commodities: [Corn](https://feedsoft.ai/c/CORN.md), [Wheat (SRW)](https://feedsoft.ai/c/WHEAT.md), [Urea](https://feedsoft.ai/c/UREA.md)

## Why it matters

Restoring Ukrainian grain flows adds supply to a market that had been tight, which weighs on wheat and corn prices. Reopened fertilizer exports also ease input costs for growers.

## Read by commodity

- CORN: bearish ▼
- UREA: bearish ▼
- WHEAT: bearish ▼

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| 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 | 2023-03-18 | [Ukraine Black Sea grain export deal extended, UN and Turkey say \| Russia-Ukraine war News \| Al Jazeera](https://feedsoft.ai/events/14408-ukraine-black-sea-grain-export-deal-extended-un-and-turkey-say-russia-ukraine.md) | -0.0% | +0.4% |
| CORN | 2024-05-09 | [How Ukraine broke Russia’s grip in the Black Sea](https://feedsoft.ai/events/14301-how-ukraine-broke-russia-s-grip-in-the-black-sea.md) | +2.7% | +0.5% |
| CORN | 2019-03-06 | [Boston Herald - Boston news, sports, politics, opinion, entertainment, weather and obituaries - Romanian Black Sea port finally receives its first shipment of Ukrainian grain amid food crisis](https://feedsoft.ai/events/59945-boston-herald-boston-news-sports-politics-opinion-entertainment-weather-and.md) | -1.7% | -1.5% |
| CORN | 2022-06-29 | [Ships going dark: Russia’s grain smuggling in the Black Sea](https://feedsoft.ai/events/14482-ships-going-dark-russia-s-grain-smuggling-in-the-black-sea.md) | +1.2% | -16.3% |
| WHEAT | 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) | -3.3% | +1.0% |
| WHEAT | 2023-03-18 | [Ukraine Black Sea grain export deal extended, UN and Turkey say \| Russia-Ukraine war News \| Al Jazeera](https://feedsoft.ai/events/14408-ukraine-black-sea-grain-export-deal-extended-un-and-turkey-say-russia-ukraine.md) | -3.3% | +1.0% |
| WHEAT | 2025-03-27 | [Black Sea uncertainty, tariff threats impacting wheat - Brownfield Ag News](https://feedsoft.ai/events/25620-black-sea-uncertainty-tariff-threats-impacting-wheat-brownfield-ag-news.md) | -1.4% | +1.9% |

## Sources

- news.un.org: https://news.un.org/en/story/2022/09/1126811

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