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Turkish Officials: Ukrainian Grain Exports Unlikely Without Deal In Place

WHEAT

Bloomberg reporting comments from Turkish officials downplaying the prospect of Ukrainian grain being exported via the Black Sea without a deal with Russia in place.

  • Turkish officials: "Ukraine grain moving out of ports unlikely... Turkey won't get involved in any grain shipments with deal over."
  • Markets have been sensitive to news that Ukrainian grain could be exported with unilateral security guarantees from the Ukrainian military but the prospect is unlikely due to the elevated risk of military confrontation with Russia and problems with insurance.
  • The most likely route back to a deal remains an agreement stuck between Russian President Vladimir Putin and Turkish President Recep Erdogan. More info: LINK
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