Russia is returning to a grain export agreement with Ukraine after a four-day suspension.
Greg McBride with Allendale says this means Ukraine can resume exporting grain safely through the Black Sea Region.
“What they are doing is moving (grain) from Ukraine, or even Russia, to Turkey,” he said. “They are having it inspected, and then moving it onto its final destination.”
He tells Brownfield the reversal caused wheat futures to drop sharply overnight.