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Destruction of Ukrainian port throws hitch in export corridor talks

Continued conflict and destruction in Ukraine are muddying the waters for the Black Sea region to resume ag exports.

University of Missouri ag economist Ben Brown says recent actions by Russia, including destroying Ukraine’s third largest port, don’t bode well for talks among world leaders to open a trade corridor from the region.

“We hear these stories of ‘hey, we’re (Russia) going to destroy a major port that potentially could play a large role in that corridor,” Brown said.

But he tells Brownfield grain markets are having little reaction to the recent news and trade discussions.

“We’ve now drug on almost four months and so, the markets are taking every bit of new information with a little bit more of a tempered edge,” Brown said. “We’re not seeing those huge swings that we saw way back in March when this started.”

Ukrainian President Volodymyr Zelenskyy says he was not invited to discuss the unblocking of Ukrainian ports. He speculates Turkish representatives are meeting with Russian leaders to negotiate the safety of Turkish ships.

The vice president of the Kyiv School of Economics, Oleg Nivevsky, says he expects Russia to continue destroying Ukrainian ports.

Brown made his comments during the recent Brownfield Weekly Commodity Market Update.

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