# Russian U-Turn Allows Grain Deal to Resume | SupplyChainBrain

> Russia reversed its suspension of the Black Sea grain arrangement after agreeing with Turkey to rejoin. Russia's defence ministry says Kyiv gave written assurances the corridor will not be used for military action. The deal was set to expire November 19 and still needed extension.

- Date: 2022-11-02 · published 2022-11-02T12:00:00.000Z
- Category: geopolitics · region Black Sea · magnitude high
- Page: https://feedsoft.ai/events/38573-russian-u-turn-allows-grain-deal-to-resume-supplychainbrain
- Commodities: [Wheat (SRW)](https://feedsoft.ai/c/WHEAT.md), [Corn](https://feedsoft.ai/c/CORN.md), [Soybean Oil](https://feedsoft.ai/c/SBO.md)

## Why it matters

Resumed Black Sea grain flows support adequate wheat, corn and sunflower supplies and ease upward pressure on feed grain and vegetable oil prices. Uncertainty over the November 19 expiry keeps some risk premium in place.

## Read by commodity

- SBO: bearish ▼
- CORN: bearish ▼
- WHEAT: bearish ▼

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| WHEAT | 2021-02-21 | [Ukraine, Russia ink deal to export grain on Black Sea](https://feedsoft.ai/events/48492-ukraine-russia-ink-deal-to-export-grain-on-black-sea.md) | +0.7% | -0.7% |
| 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 | 2023-05-18 | [Russia agrees to extend Ukraine grain deal in a boost for global food security \| AP News](https://feedsoft.ai/events/14393-russia-agrees-to-extend-ukraine-grain-deal-in-a-boost-for-global-food-security.md) | -1.2% | -6.5% |
| WHEAT | 2023-05-17 | [What are the deals on Ukraine, Russia grain exports? \| Reuters](https://feedsoft.ai/events/14390-what-are-the-deals-on-ukraine-russia-grain-exports-reuters.md) | -1.4% | -6.9% |
| WHEAT | 2023-04-17 | [What are the deals on Ukraine, Russia grain exports? \| Reuters](https://feedsoft.ai/events/14397-what-are-the-deals-on-ukraine-russia-grain-exports-reuters.md) | +7.8% | -1.4% |
| CORN | 2021-02-21 | [Ukraine, Russia ink deal to export grain on Black Sea](https://feedsoft.ai/events/48492-ukraine-russia-ink-deal-to-export-grain-on-black-sea.md) | +1.6% | -3.4% |
| 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 | 2023-05-18 | [Russia agrees to extend Ukraine grain deal in a boost for global food security \| AP News](https://feedsoft.ai/events/14393-russia-agrees-to-extend-ukraine-grain-deal-in-a-boost-for-global-food-security.md) | +5.6% | +2.2% |

## Sources

- supplychainbrain.com: https://www.supplychainbrain.com/articles/36014-russian-u-turn-allows-grain-deal-to-resume

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