# Russia rules out reviving Black Sea grain deal | Portcroft Insights

> Russia's deputy foreign minister Alexander Alimov said Moscow sees no prospect of reviving the Black Sea Grain Initiative in any form, including UN proposals. He said Russia is reviewing proposals from several countries and holding talks with Turkey on keeping grain shipments moving safely.

- Date: 2026-11-01 · published 2026-11-02T09:12:34.817Z
- Category: geopolitics · region Black Sea · magnitude medium
- Page: https://feedsoft.ai/events/75292-russia-rules-out-reviving-black-sea-grain-deal-portcroft-insights
- Commodities: [Wheat (SRW)](https://feedsoft.ai/c/WHEAT.md), [Corn](https://feedsoft.ai/c/CORN.md), [Ocean Grain Freight](https://feedsoft.ai/c/OCEANFRT.md)

## Why it matters

With no formal safety framework, freight and insurance costs for Black Sea wheat, corn and sunflower oil are likely to stay elevated, supporting firmer export offers and reinforcing supply risk premiums.

## Read by commodity

- CORN: bullish ▲
- WHEAT: bullish ▲
- OCEANFRT: bullish ▲

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| 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 | [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 | 2023-07-17 | [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 | 2023-06-01 | [Ukraine says Russia again blocking Black Sea grain export deal \| Reuters](https://feedsoft.ai/events/14384-ukraine-says-russia-again-blocking-black-sea-grain-export-deal-reuters.md) | -3.6% | +8.1% |
| 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% |
| CORN | 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) | -1.0% | +1.3% |
| 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% |
| 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% |

## Sources

- portcroft.com: https://portcroft.com/insights/russia-rules-out-reviving-black-sea-grain-deal

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