Wheat markets have endured a volatile week’s trading with focus on the talks between representatives from Ukraine, Russia and the UN as they discussed the renewal of the Black Sea export deal.
Russian officials have indicated that there is no objection from Russia to a deal extension, but that this extension would be limited to a 60-day term. This is due to Russia’s belief that western sanctions are preventing the free flow of its agricultural produce and harming its trade. In response, a Ukrainian official has stated that anything less than a 120-day extension would be in violation of the agreement. At the time of writing, the UN has not confirmed an extension or provided further details on possible terms.
During current intense volatility, markets can move significantly - sometimes in a matter of minutes and outside regular hours. Our MyFarm platform is free to Frontier customers and offers 24-7 access to market information and live grain prices, as well as the option to sell grain at a time that's more convenient. Find out more: www.frontierag.co.uk/myfarminfo
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