Russia agrees to extend trade agreement with Ukraine

Russia has agreed to a 60-day extension of the Black Sea Grain Initiative with Ukraine.

StoneX Group Chief Commodities Economist Arlan Suderman says that’s half the time of the original agreement and now, Turkey and the United Nations are trying to bring consensus to the issue.

“It’s anticipated by the markets that all trade will continue until we reach the 60-day period and that’s when we’ll have to deal with the conflict unless the United Nations and Turkey can work out the details,” says Suderman.

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