On Sunday, Iraq booked 150,000 mt of wheat from Australia, Canada, and Lithuania at $480-499 C&F ($13.06 to $13.58 per bushel delivered).
Russia has banned passage of vessels not loaded in a Russian port through Kerch Strait into Azov Sea. That shuts off supplies to about half of Ukraine’s coast. This coastline is part of the disputed territory. This is not a big deal directly for grains, but it is another escalation of the struggle between Ukraine and Russia.
There was an explosion yesterday morning in downtown Istanbul, the capital city of Turkey. Six people are known dead with 81 injured; a terrorist suspect has been arrested. Another potential escalation of the war.