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“This agreement has been bigged up as something that will be a solution to the world’s food shortage, and it is just not,” said Tracey Allen, an agricultural commodities strategist at JPMorgan Chase & Co. The deal may not hold amid the fighting, and even if it does, experts say it probably won’t be enough to address other issues hanging over the global wheat market. A little over a week ago, an agreement was reached to open an export corridor to allow some of the grain trapped by the war to move out across the world.

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An uptick in supply from winter-wheat harvests has also lowered prices in recent weeks.Ī deal to free trapped grain provides only partial relief.Ī major factor pushing wheat prices down has been the progress of negotiations over the fate of more than 20 million metric tons of grain stuck in Black Sea ports in Ukraine. On Friday, wheat traded at a little more than $8 a bushel.Īfter the initial shock of the invasion, higher prices dissuaded some countries from buying wheat, lowering demand and weighing on prices. The price mostly stayed in double digits until mid-June, when it began to fall. The price of a widely traded type of wheat that started the year about $7.70 per bushel jumped to $13 in the immediate aftermath of Russia’s invasion of Ukraine in late February, according to futures contracts traded in Chicago, a global hub for the commodity. Wheat prices, though, have fallen to roughly where they began the year.

Oil prices have eased a bit since the start of the war, although it still costs a lot more than it did at the start of the year for Americans to fill their cars with gasoline, for Europeans to heat their homes with natural gas and for just about anyone anywhere to do anything linked to the cost of oil. The two countries together account for roughly one-fourth of global wheat exports, according to the US Department of Agriculture. You received this message because you signed up for 's The New York Times Magazine newsletter.Īs a member of the TRUSTe privacy program, we are committed to protecting your privacy.Russia’s invasion of Ukraine caused food and fuel prices to soar, as war and sanctions disrupted supplies from two of the world’s major agriculture and energy exporters. Get unlimited access to and our NYTimes apps for just $0.99. Could she have caught something there that was causing strokes?įOLLOW THE NEW YORK TIMES MAGAZINE Ethicists' PodcastĪmy Bloom, Jack Shafer and Kenji Yoshino debate readers' ethical quandaries. Why Was This Patient Walking on Pins and Needles? Want to find what you didn't know you were looking for? Don't go to Google. Letter of Recommendation: Alternative Search Engines By JOSHUA COHEN The Mental Health Issue The Town Shrink By ROBERT SULLIVAN Trained as a psychiatrist, Mindy Thompson Fullilove now puts entire cities on the couch. Jeff Chien-Hsing Liao for The New York Times The Mental Health Issue Can the Bacteria in Your Gut Explain Your Mood? By PETER ANDREY SMITH The rich array of microbiota in our intestines can tell us more than you might think. Brass tray from Aero Studios.īy MARK BITTMAN How an old-school Chinese-American favorite found a new audience in L.A. It took years to get over a middle-school beat-down.Ĭonfessions of a Seduction Addict By ELIZABETH GILBERTĪ compulsion to coerce men into relationships becomes self-destructive. The Mental Health Issue Illustration by Luke Shuman On Racial Violence 'The Condition of Black Life Is One of Mourning' By CLAUDIA RANKINE The murder of three men and six women at a church in Charleston is a national tragedy, but in America, the killing of black people is an unending spectacle. On Racial Violence Racism's Psychological Toll Interview by JENNA WORTHAM A conversation with the psychologist Monnica Williams on racial trauma and its consequences.

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