Wheat prices spike after Russian threats

Following Russia’s withdrawal from the Black Sea Grain Initiative, Vladimir Putin has launched attacks against Odesa and is threatening vessels sailing to Ukraine, causing wheat prices to soar


Jul 18-19: Russia launches extensive missile and drone attacks against port and grain infrastructure in southern Ukraine, destroying 60,000 tonnes of grain

Putin says he will return to grain agreement if list of demands is met


ROMANIA 
UKRAINE
Pivdennyi 
Odesa
Chornomorsk
Constanta
Kherson
CRIMEA 
Annexed by Russia in 2014
Sevastopol
BLACK SEA
Safe passage corridor
Istanbul
TURKEY
100km 60 miles


Black Sea Grain Initiative: Agreement among Russia, Ukraine, Turkey and United Nations created to safely export grain from Ukrainian ports


WHEAT COMMODITY (euros) 

Jun 22: 251.00

Weekend (no trade)

Jul 1, 2023

Jul 3: 226.25

Jul 17: Russia exits agreement on expiration date

Jul 19: 255.00


255
250
245
240
235
230
225
	20	25	5 	10	15


Sources: BBC, Reuters, ISW, Markets Insider
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