Ukraine’s grain exports, crop still must prove themselves – Braun

Ukraine’s grain exports, crop still must prove themselves – Braun

(The opinions expressed here are those of the author, a market analyst for Reuters.)

NAPERVILLE, Ill. - The volume of grain Ukraine will have available for export over the coming year and whether those shipments can run smoothly remains to be seen, though optimism has increased with the first sea departure of a grain vessel since Russia's invasion.

Estimates across the industry still vary on harvest potential, but there are suggestions, including from Kyiv, that the grain crop could be larger than previously thought.

A ship carrying about 26,000 tonnes of Ukrainian corn left the Black Sea port of Odesa Monday headed for Lebanon following the export agreement signed on July 22. The U.N.- and Turkey-facilitated deal aims to safely restart Ukraine’s seaports, shuttered since late February.

Some details are still unclear, raising questions about the longevity of the program, which is renewable following the initial 120-day period. The issue of grain ownership is a top factor that could potentially jeopardize cooperation.

Ukraine has already accused Russia of stealing its grain on several occasions since the conflict began, most recently opening an inquiry into a ship docked last week in Lebanon with allegedly illicit cargo. That vessel was cleared for departure by Lebanese officials on