According to Turkish President Recep Tayyip Erdogan, grain exports through the Ukraine’s corridor will start up again Wednesday at noon. Speaking to MPs from the ruling party in the capital city of Ankara, Erdogan said that Russian officials had already made the commitment with their Turkish counterparts.
After Russia announced over the weekend that it was halting participation in the contract, wheat futures sold in Chicago fell and traded down 3.6% on Wednesday, wiping out some of this week’s previous gains. Due to rumours over the deal’s future, which was supposed to be renewed in mid-November, grain prices have been volatile over the previous few months.
The UN announced a stop to grain ships transferring crops through the corridor there after receiving a warning from Russia that the route was unsafe for ships to use. Turkey serves as the joint coordination headquarters for the corridor.
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