The best explanation I heard on the Russian / Ukraine grain corridor yesterday was that Russia has pulled out because Ukraine bombed Russian war ships that were protecting Ukraine exports from Russian war ships. Just think about that…..
Russia will claim the moral high ground and claim that they are exporting grains to the poorest nations in the world instead of Ukraine, thus averting a global famine. Russia will claim that the grain corridor was established so Ukraine could feed the poor but yet Ukraine exported to mostly wealthy EU countries, and mostly feed grain like corn. Russia, the friend of the poor, especially if you are male between 18-60 living in Russia, here take a gun.
The major insurer of vessels from Ukraine has paused quotes until there is further clarity on the situation. No insurance, no boats.
On Sunday 354.5kt of grain set sail from Ukraine, the highest daily release since February and the commencement of the grain corridor agreement.
There are already reports that 2 tug boats that were helping to move a grain vessel have been targets by Russian missiles.

The news rippled through the global wheat futures market quickly. The overnight session at Chicago pushing sharply higher and leading the way higher for their day session. Cash markets from the US and Canadian west coast, although higher, did not rally dollar for dollar with the US futures markets.  White wheat out of the PNW did make good gains, +AUD$12.74 when taking the weaker AUD into consideration.

The lead up to the Australian winter grain harvest continues like something out of a George R R Martin novel. OK, think of worst case scenario, and just make it a little worse. Strong winds have seen many near to harvest canola fields shell out and further heavy falls are expected to flood rivers again.