Global wheat prices, page-3

the underlying cause had until now been shipping insurance. without the grain deal, insurance policies wouldn't be given to exporters, who then wouldn't take the risk. but the infrastructure was always there and ready to go at any moment so the market was reacting to the invoking/revoking of insurance polices like an on and off switch.

if russia has managed, or manages to, critically damage the ports, then i don't see how this wouldn't be much worse than last year. as the matter would no longer be the whims of policy, but of the fact the ports have been destroyed.