And the cargoes are not expected to have a significant impact on the global price of corn, wheat and soybeans for several reasons. Grain prices peaked after Russia’s invasion, and while some have since come down to their pre-war levels, they are still higher than before the COVID-19 pandemic. Corn prices are 70% higher than at the end of February 2020, said Jonathan Haines, senior analyst at data and analytics firm Gro Intelligence. “If the flow of grain from Ukraine continues to expand, it will help relieve global supply constraints." It added that the Joint Coordination Center — run by officials from Ukraine, Russia, Turkey and the U.N. overseeing the deal signed in Istanbul last month — authorized the three ships and inspected a ship headed for Ukraine.
Source: The Herald August 05, 2022 11:21 UTC