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EU urges Russia to reverse suspension of Black Sea grain shipments (NYSEARCA:WEAT)

Freddie Green by Freddie Green
October 30, 2022
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FluxFactory/E+ via Getty Images

The European Union is asking Russia to reconsider its decision Saturday to pull out of a U.N.-brokered Black Sea grain deal, effectively cutting shipments from Ukraine, one of the world’s top grain exporters.

President Biden called the move “outrageous,” saying it would increase global starvation, while Secretary of State Antony Blinken accused Russia of weaponizing food.

Russia claimed its reason for ending the deal was a Ukrainian drone attack on its fleet in Crimea.

Ukraine’s President Zelenskyy said 176 ships loaded with grain for more than 7M consumers are being blocked.

Since Russia and Ukraine signed the grain deal on July 22, more than 9M metric tons of corn, wheat, sunflower products, barley, rapeseed and soy have been exported from Ukraine.

ETFs: (NYSEARCA:WEAT), (NYSEARCA:CORN), (NYSEARCA:SOYB), (DBA), (MOO)

Potentially relevant tickers include (ADM), (AGCO), (ANDE), (BG), (CF), (FMC), (MOS), (NTR)

Tags: BlackgrainNYSEARCAWEATreverseRussiaSeaShipmentssuspensionUrges
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Freddie Green

Freddie Green

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