The Black Sea Grain Initiative has been extended for two more months.

Jim McCormick with AgMarket.Net tells Brownfield Russia had repeatedly threatened to back out of the agreement.

“The market, interesting enough, always seemed to have confidence a deal would get done,” he said. “You had never really seen any risk premium really getting put back into the corn or the wheat market.”

McCormick says the announcement will likely pressure U.S.

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