World wheat prices are falling after the first ship left the Ukrainian port of Chornomorsk.

According to Bloomberg, wheat futures on September 19 fell 1.3% to $5.84 per bushel after falling 2.2% the day before. Wheat futures are down about 26% this year after record harvests in parts of the Northern Hemisphere, including Russia. On September 19, the Minister of Agrarian Policy of Ukraine, Oleksandr Kubrakov, announced that the Resilient Africa, one of the two vessels that arrived at the Ukrainian port of Chornomorsk on Saturday, left the port with 3,000 tons of wheat on board and was heading to the Bosphorus. The second ship is in the port being loaded with Ukrainian wheat bound for Egypt. However, it is still too early to say whether Kyiv’s efforts to open the corridor will significantly help exports. The market is waiting for a reaction from Russia, which has said it will consider any ships bound for Ukrainian ports as potentially carrying weapons.


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