Russia did a U-turn and rejoined the Black Sea Grain Deal after getting assurances Ukraine would not use this shipping corridor for military purposes. CHS Hedging commodity broker Ryan Kelbrants says the global situation is extremely volatile. “You don’t know what is going to happen one day to the next and it has people concerned.” Lloyds of London and other major insurance companies are quoting cargo insurance for the Black Sea Region. Kelbrants says those rates are “astronomical.”
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