The extension of the grain agreement, which provides the supply of Ukrainian and Russian agricultural products to the world market, caused wheat prices to fall to the lowest value of the last two years. In the second half of May, the cost of a bushel reached $ 6.05. to witness Trade data on the Chicago Mercantile Exchange.
In the morning session on May 22, quotes for this agricultural crop fell 0.7% from the previous trade’s closing level. Such low values had not been recorded on the American site since April 2021. At the same time, as we approached the peak of the daytime session, prices retraced the morning decline somewhat and reached $6.09 per bushel.
The parties reached an extension of the grain agreement on 17 May. The next day in the Kremlin approved A solution reached through UN mediation.
Presidential spokesman Dmitry Peskov said the agreement was extended by 60 days. This decision was taken against the background of the development of various options for Rosselkhozbank equivalent to unlocking the ability to process transactions using the International System for Interbank Information Transfer and Payment (SWIFT).
Source: Gazeta
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