Russia’s doubles down for a shorter extension as the Grain Deal expires tomorrow

The Black Sea Grain initiative is set to expire tomorrow, and Russian leaders are doubling down, wanting to stick to a 60 day extension of the deal.

Both Turkey and Ukraine have said the deal must be extended by 120 days under the existing terms. Leaders at the United Nations say they will continue working on a longer extension and say talks are still ongoing.

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While this adjustment is substantial in percentage terms, according to David Widmar with Agricultural Economic Insights—it is part of the natural ebb and flow of the agricultural economy.