Turkey says grain shipments to resume via Ukraine grain corridor

Turkish President Recep Tayyip Erdogan said shipments via the Ukraine grain corridor would resume around midday on Wednesday.

Speaking to governing party lawmakers in capital Ankara, Erdogan said Russian authorities made the pledge with their Turkish counterparts earlier.

Wheat futures traded in Chicago dropped and traded down 3.6% on Wednesday, erasing some of this week’s earlier gains after Russia said it was suspending involvement in the deal over the weekend.

Grain prices have been volatile over the past few months amid speculation over the fate of the deal which was set to be renewed in mid-November.

Turkey hosts the joint coordination center for the corridor, where the UN announced a halt to grain ships moving crops, following a warning from Russia that ships weren’t safe using the route.

© 2022 Bloomberg

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