Free Trial

High-Level 4-Way Meeting On Grain Deal In Istanbul 10-11 May-RIA

WHEAT

Russia's state-run RIA citing an unnamed Russian official stating that a high-level four-way meeting regarding the Black Sea Grain Initiative will take place 10-11 May in the Turkish city of Istanbul. The four participants/guarantors of the deal - Russia, Ukraine, Turkey, and the UN, are set to be in attendance.

  • The deadline for extending the deal is approaching rapidly, coming on 18 May. If there are no objections the deal is automatically rolled over. However, Russia has indicated that it is unhappy with the implementation of the deal and may be inclined to pull the plug.
  • Last week, Reuters reported that ships returning to Ukraine to collect grain have slowed, for fear of becoming stuck if the deal is pulled on 18 May. Jan Rindbo of Danish shipping firm NORDEN stated to Reuters that his company's ships were not returning to Ukraine, stating "We are not participating in that trade at the moment ... It is a risky area - it is very hard to predict what will happen. Things can change quickly ... from the time you agree to go in and pick up a cargo and until the time the ship actually arrives."

To read the full story

Close

Why MNI

MNI is the leading provider

of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.

Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.