# Black Sea grain deal eased global food prices — now it's off and analysts are warning of a price 'roller-coaster' - ABC News

> Russia withdrew from the Black Sea grain deal, ending the arrangement that allowed Ukrainian grain exports through three ports. Analysts warn that food prices could surge again and become volatile. The deal had been credited with easing food price inflation in 2022.

- Date: 2023-07-18 · published 2023-07-18T12:00:00.000Z
- Category: geopolitics · region Black Sea · magnitude high
- Page: https://feedsoft.ai/events/35015-black-sea-grain-deal-eased-global-food-prices-now-it-s-off-and-analysts-are
- Commodities: [Wheat (SRW)](https://feedsoft.ai/c/WHEAT.md), [Corn](https://feedsoft.ai/c/CORN.md)

## Why it matters

Losing safe passage for Ukrainian and Russian grain cuts export capacity from two major suppliers. This raises risk premiums for wheat and corn and could lift prices.

## Read by commodity

- CORN: bullish ▲
- WHEAT: bullish ▲

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| WHEAT | 2022-10-31 | [Wheat futures jump, hitting record high in Sydney, after Russia exits Black Sea deal - Grain Price News](https://feedsoft.ai/events/39157-wheat-futures-jump-hitting-record-high-in-sydney-after-russia-exits-black-sea.md) | -5.6% | +2.4% |
| WHEAT | 2022-11-04 | [Russia’s UN Grain Deal Boomerang: Implications for the Deal and Global Food Prices](https://feedsoft.ai/events/7291-russia-s-un-grain-deal-boomerang-implications-for-the-deal-and-global-food.md) | +7.3% | +8.1% |
| WHEAT | 2023-07-20 | [Grain prices rise after Russian pullout of Black Sea deal sparks food crisis fears \| Commodities \| The Guardian](https://feedsoft.ai/events/35076-grain-prices-rise-after-russian-pullout-of-black-sea-deal-sparks-food-crisis.md) | -0.7% | -1.3% |
| WHEAT | 2023-03-17 | [Russia Still Slow-Walking Ukraine Food Exports in Black Sea Grain Deal](https://feedsoft.ai/events/14410-russia-still-slow-walking-ukraine-food-exports-in-black-sea-grain-deal.md) | -3.7% | -6.8% |
| WHEAT | 2023-07-17 | [Russia-Ukraine grain deal: What does it mean for global food prices](https://feedsoft.ai/events/35104-russia-ukraine-grain-deal-what-does-it-mean-for-global-food-prices.md) | +2.4% | +2.8% |
| CORN | 2022-10-31 | [Wheat futures jump, hitting record high in Sydney, after Russia exits Black Sea deal - Grain Price News](https://feedsoft.ai/events/39157-wheat-futures-jump-hitting-record-high-in-sydney-after-russia-exits-black-sea.md) | -2.2% | -3.8% |
| CORN | 2022-11-04 | [Russia’s UN Grain Deal Boomerang: Implications for the Deal and Global Food Prices](https://feedsoft.ai/events/7291-russia-s-un-grain-deal-boomerang-implications-for-the-deal-and-global-food.md) | -0.9% | -4.5% |
| CORN | 2023-07-20 | [Grain prices rise after Russian pullout of Black Sea deal sparks food crisis fears \| Commodities \| The Guardian](https://feedsoft.ai/events/35076-grain-prices-rise-after-russian-pullout-of-black-sea-deal-sparks-food-crisis.md) | +9.4% | -7.2% |

## Sources

- abc.net.au: https://www.abc.net.au/news/2023-07-18/grain-prices-more-volatile-as-black-sea-deal-ceases-explainer/102613746

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