News Snapshot:
Russia is threatening to pull the plug on the Black Sea Grain Initiative on May 18, blocking Ukrainian seaborne exports of corn and wheat. The European Union has banned Ukrainian agriculture exports to neighboring Romania, Bulgaria, Poland, Hungary and Slovakia until June 5, with an extension through year-end possible. The Tolyatti-Odessa pipeline, a key conduit for Russian exports of ammonia — a vital fertilizer feedstock — remains offline. CNBC recently warned that “the basic food security of tens of millions across the globe is hanging by a thread.” The United Nations stressed that the Black Sea Grain Initiative is “critical”...
