Black Sea Food Deal Collapses, Russia Rejects Extension

Tensions in the region have escalated as the Black Sea food deal came to an end after nearly a year, adding to uncertainty over global food supplies.
Russia said the agreement would no longer be valid from today, with Monday the latest expiry date for the deal.
That jeopardizes a key trade route for Ukraine, one of the world’s top exporters of grain and vegetable oils, just in time for the next harvest.
Benchmark wheat futures in Chicago rose as much as 3.5% on the news.