LONDON, July 25 — Wheat prices rose sharply today as a missile strike on the Ukrainian port of Odesa over the weekend raised doubts about whether it will be possible to implement...
LONDON, July 25 — Wheat prices rose sharply today as a missile strike on the Ukrainian port of Odesa over the weekend raised doubts about whether it will be possible to implement last week’s agreement to open a corridor for grain exports from the war-torn country.
“A restart of Ukrainian exports will not only need a safe shipping channel, but also safe ports. The Russians have created doubt about the safety of ports hardly before the ink was dry on the shipping agreement. Doubt is there again,” one European trader said. “Along with the uncertainty about how long it will take to clear the mines, ship owners will simply not sail to Ukraine, no matter what the freight rate is, if they think their ship will be hit by missiles,” another European grain trader said.