Prices on the European exchange rose sharply after the attack on the ports of Odesa and Chornomorsk

On the night of July 19, with 33 missiles of various classes and 32 drones, the shahed Russian Federation attacked Odesa, as a result of which the grain export infrastructure of the port of Chornomorsk, in particular, the grain terminal of the Kernel company, was severely damaged. On the night of July 20, during another attack in Odesa and Mykolaiv, residential buildings were damaged and civilians were killed. Once again, the Russian Federation confirms that terror and intimidation remain the main methods of the terrorist country to achieve its goal of blocking exports from Ukraine and raising world grain prices in order to increase its own profits. By increasing the world crisis, the Russian Federation is trying to dictate its terms for negotiations with the West.

Yesterday, the Russian Federation achieved its goal of speculative growth in world prices, as quotations on the Euronext exchange rose by 5-8.2% (+6.2-9.5% since the beginning of the week) against the background of a possible disruption of grain supplies from Ukraine.

On the Euronext exchange, quotations of the main agricultural crops rose sharply yesterday:

• September wheat futures – up 8.2% to €253.75/t or $284.75/t (+9.5% from Monday),
• November corn futures – by 5% to €242.5/t or $280/t (+6.2%),
• August rapeseed futures – by 5.4% to €503.25/t (+8.1%).

The Ministry of Agrarian Policy of Ukraine reported that as a result of the Russian attack, the grain infrastructure of international traders and carriers Kernel, Viterra, CMA CGM Group was damaged, and it will take at least a year to fully restore it. This threatens the food security not only of Ukraine, but of the whole world, so he must respond harshly to such terror. In the port of Chornomorsk, 60,000 tons of grain were destroyed, which 60 days ago should have been loaded onto a large-tonnage ship and sent to China via the grain corridor.

As a result of the night shelling on July 20, there was destruction with victims and a fire of 300 m2 in the center of Odesa, and in the center of Mykolaiv a house was damaged, 7 people were killed and injured, three of whom were children.

If the civilized world reacts to Russian terror only with panic on the stock exchanges, then the Russian Federation will continue to shell the cities and ports of Ukraine, as well as threaten foreign ships in the waters of the Black Sea. Only a complete embargo on goods from the Russian Federation will collapse the economy of the terrorist country and stop the war, but Western countries are still afraid of the complete collapse of the Russian Federation.

Tags: corn, EU, prices, wheat