Black Sea grain deal: Russia refuses to renew and says no guarantees for ships now

Reuters was first to report that Russia was withdrawing from the UN-brokered agreement for a wartime safe shipping channel for Ukraine’s grain exports. The Monday announcement pushed global wheat prices sharply higher. U.S. wheat futures also jumped 8.5% on Wednesday and European grains soared after Reuters reported, ahead of competition, that Moscow would deem all ships traveling to Ukrainian ports to be potential carriers of military cargo.