Evening Update: Russia pulls out of deal for safe export of Ukrainian grain

News Snapshot:

Good evening, let’s start with today’s top stories: Russia has pulled out of a deal that allowed for the safe export of Ukrainian grains through the Black Sea, a move expected to lead to a spike in global food prices. The deal had been in place since last July and brought 33 million tonnes of grain to market, which the United Nations credited with helping lower food prices by 20 per cent. The World Food Programme – which is battling food shortages in Afghanistan, Yemen and East Africa – bought 80 per cent of its wheat from Ukraine during the...