# Russia-Ukraine grain deal: What does it mean for global food prices

> Russia said on July 17, 2023 that it would not renew the UN-brokered Black Sea Grain Initiative, which expired that day. Wheat, corn and soybean prices rose on the news, and analysts warned of renewed food security concerns.

- Date: 2023-07-17 · published 2023-07-17T12:00:00.000Z
- Category: geopolitics · region Black Sea · magnitude high
- Page: https://feedsoft.ai/events/35104-russia-ukraine-grain-deal-what-does-it-mean-for-global-food-prices
- Commodities: [Wheat (SRW)](https://feedsoft.ai/c/WHEAT.md), [Corn](https://feedsoft.ai/c/CORN.md), [Soybeans](https://feedsoft.ai/c/SOY.md), [Barley](https://feedsoft.ai/c/BARLEY.md)

## Why it matters

The end of the grain corridor removes a key export channel for Ukrainian grain and raises the risk of supply disruption, supporting grain prices. Feed buyers should expect higher and more volatile grain costs.

## Read by commodity

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

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| 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 | 2022-01-31 | [Russia-Ukraine Tensions Drive Global Wheat Prices Higher](https://feedsoft.ai/events/43173-russia-ukraine-tensions-drive-global-wheat-prices-higher.md) | -1.7% | +0.5% |
| WHEAT | 2023-04-27 | [Ukraine grain deal under threat: What does it mean for the Middle East and Africa? \| The National](https://feedsoft.ai/events/36308-ukraine-grain-deal-under-threat-what-does-it-mean-for-the-middle-east-and.md) | +1.1% | -2.6% |
| 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 | 2023-11-22 | [Wheat prices jump as Russia targets Ukrainian grain supplies](https://feedsoft.ai/events/12252-wheat-prices-jump-as-russia-targets-ukrainian-grain-supplies.md) | -0.4% | -1.2% |
| 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 | 2022-01-31 | [Russia-Ukraine Tensions Drive Global Wheat Prices Higher](https://feedsoft.ai/events/43173-russia-ukraine-tensions-drive-global-wheat-prices-higher.md) | +0.6% | +6.9% |
| CORN | 2023-04-27 | [Ukraine grain deal under threat: What does it mean for the Middle East and Africa? \| The National](https://feedsoft.ai/events/36308-ukraine-grain-deal-under-threat-what-does-it-mean-for-the-middle-east-and.md) | -0.9% | -4.0% |

## Sources

- cnbc.com: https://www.cnbc.com/2023/07/17/russia-ukraine-grain-deal-what-does-it-mean-for-global-food-prices.html

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