5,900 people were evacuated from flood affected areas

Grain prices have risen in recent days due to intense fighting in Ukraine and dry weather in northern Europe and the United States.

Two major events are drawing markets’ attention: Tuesday’s destruction of the Khakovka dam in southern Ukraine, whose waters submerged tens of thousands of hectares of farmland, according to reports from the Ukrainian Ministry of Agriculture and the Russian Ministry of Defense. On Wednesday, he accused Ukrainian forces of vandalizing an ammonia pipeline in the Kharkiv region (northeast) that connects the Russian city of Togliatti with the Ukrainian port of Odesa. It has not been operational since February 2022, but Moscow hopes to bring it back into service.

Before the war, it allowed Russia to export 2.5 million tons of ammonia, the main ingredient of nitrogen fertilizers, annually, mainly to the European Union. The Black Sea Grain Agreement, signed in July 2022, allowed Ukraine to export more than 31 million tonnes of grain, which Moscow has repeatedly insisted would be renewed only if its own grain and fertilizer exports improve.

“The reactivation of the ammonia pipeline is part of the Russian conditions for the extension of the Black Sea agreement. Its destruction would bury the UN project, which is trying to reopen it. At the request of Russia and made a request “extension” The agreement for other Ukrainian ports, at the request of kyiv, explained Damien Vercambre of the company Intercortage, who interviewed Agence France-Presse.

US winter wheat has rallied nearly 10% since last Wednesday, and its price is up 4.3% in five days on the Euronext platform.