# Black Sea grain deal: What's next now that Russia has pulled out?

> Russia has suspended its participation in the Black Sea grain deal, prompting questions about what comes next. Oilseed prices rose on the news, and wheat and corn prices had fallen earlier this year.

- Date: 2023-07-17 · published 2023-07-17T12:00:00.000Z
- Category: geopolitics · region Black Sea · magnitude high
- Page: https://feedsoft.ai/events/35074-black-sea-grain-deal-what-s-next-now-that-russia-has-pulled-out
- Commodities: [Soybean Oil](https://feedsoft.ai/c/SBO.md), [Canola Meal](https://feedsoft.ai/c/CANMEAL.md), [Wheat (SRW)](https://feedsoft.ai/c/WHEAT.md), [Corn](https://feedsoft.ai/c/CORN.md)

## Why it matters

Suspension of the grain corridor raises supply risk for Black Sea exports, supporting oilseed and grain prices. Lower year-to-date prices leave some room for a rebound.

## Read by commodity

- SBO: bullish ▲
- CORN: bullish ▲
- WHEAT: bullish ▲
- CANMEAL: bullish ▲

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| SBO | 2022-10-31 | [U.N. Black Sea grain pact under threat as Russia quits \| Reuters](https://feedsoft.ai/events/14444-u-n-black-sea-grain-pact-under-threat-as-russia-quits-reuters.md) | +3.1% | +0.8% |
| SBO | 2026-07-27 | [Black Sea grain trapped as Russia, Ukraine attacks continue \| World Grain](https://feedsoft.ai/events/14101-black-sea-grain-trapped-as-russia-ukraine-attacks-continue-world-grain.md) | -5.7% | -1.4% |
| SBO | 2022-06-28 | [The Battle for the Black Sea \| Russia-Ukraine war \| Al Jazeera](https://feedsoft.ai/events/14478-the-battle-for-the-black-sea-russia-ukraine-war-al-jazeera.md) | -6.8% | -13.9% |
| SBO | 2022-10-31 | [Palm rises over 4% after Russia pulls out of Black Sea export corridor - Markets - Business Recorder](https://feedsoft.ai/events/8074-palm-rises-over-4-after-russia-pulls-out-of-black-sea-export-corridor-markets.md) | +3.1% | +0.8% |
| SBO | 2022-04-15 | [Ukraine says grain on ships in blocked Black Sea ports may deteriorate \| Reuters](https://feedsoft.ai/events/14494-ukraine-says-grain-on-ships-in-blocked-black-sea-ports-may-deteriorate-reuters.md) | +3.2% | +2.7% |
| WHEAT | 2023-06-16 | [Explainer: What is Russia's problem with the Black Sea grain deal?](https://feedsoft.ai/events/14383-explainer-what-is-russia-s-problem-with-the-black-sea-grain-deal.md) | +3.5% | -0.1% |
| WHEAT | 2022-10-29 | [U.N., Turkey, Ukraine press ahead with Black Sea grain deal despite Russian pullout \| Reuters](https://feedsoft.ai/events/14445-u-n-turkey-ukraine-press-ahead-with-black-sea-grain-deal-despite-russian.md) | -5.6% | +2.4% |
| WHEAT | 2023-05-25 | [Russia signals end to Black Sea grain deal in July if demands not met](https://feedsoft.ai/events/14392-russia-signals-end-to-black-sea-grain-deal-in-july-if-demands-not-met.md) | -1.8% | -1.4% |

## Sources

- reuters.com: https://www.reuters.com/markets/commodities/why-does-black-sea-grain-deals-expiry-matter-2023-07-17/

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