# Grain prices rise after Russian pullout of Black Sea deal sparks food crisis fears | Commodities | The Guardian

> Wheat rose about 1.5% on the Chicago Board of Trade on Thursday, with corn and soybeans also higher, following an 8%-plus wheat rally the previous day. The moves came after Russia's withdrawal from the Black Sea grain deal raised food crisis fears.

- Date: 2023-07-20 · published 2023-07-20T12:00:00.000Z
- Category: geopolitics · region Black Sea · magnitude high
- Page: https://feedsoft.ai/events/35076-grain-prices-rise-after-russian-pullout-of-black-sea-deal-sparks-food-crisis
- Commodities: [Wheat (SRW)](https://feedsoft.ai/c/WHEAT.md), [Corn](https://feedsoft.ai/c/CORN.md), [Soybeans](https://feedsoft.ai/c/SOY.md)

## Why it matters

Sharp wheat and corn gains reflect the loss of Black Sea export capacity and a repricing of supply risk. Feed buyers should expect higher input costs while the corridor remains uncertain.

## Read by commodity

- SOY: bullish ▲
- CORN: bullish ▲
- WHEAT: bullish ▲

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| WHEAT | 2022-02-24 | [Ukraine crisis: commodities prices surge as stock markets slump \| Commodities \| The Guardian](https://feedsoft.ai/events/6312-ukraine-crisis-commodities-prices-surge-as-stock-markets-slump-commodities-the.md) | +6.8% | +25.3% |
| 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 | 2023-07-17 | [Black Sea grain deal expires after Russia quits \| Reuters](https://feedsoft.ai/events/7057-black-sea-grain-deal-expires-after-russia-quits-reuters.md) | +2.4% | +2.8% |
| WHEAT | 2023-07-17 | [Black Sea grain deal: What's next now that Russia has pulled out?](https://feedsoft.ai/events/35074-black-sea-grain-deal-what-s-next-now-that-russia-has-pulled-out.md) | +2.4% | +2.8% |
| 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% |
| CORN | 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) | -2.2% | -3.8% |
| CORN | 2023-07-17 | [Black Sea grain deal expires after Russia quits \| Reuters](https://feedsoft.ai/events/7057-black-sea-grain-deal-expires-after-russia-quits-reuters.md) | -8.6% | -12.6% |
| CORN | 2023-07-17 | [Black Sea grain deal: What's next now that Russia has pulled out?](https://feedsoft.ai/events/35074-black-sea-grain-deal-what-s-next-now-that-russia-has-pulled-out.md) | -8.6% | -12.6% |

## Sources

- theguardian.com: https://www.theguardian.com/business/2023/jul/20/rising-grain-prices-russia-pullout-black-sea-deal-food-crisis-fears

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