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Russia is ready to establish a humanitarian food channel for Ukraine. Wheat and corn futures fell.
On Wednesday, US Eastern Time, after the Russian side revealed that it was preparing to establish a humanitarian channel for Ukrainian grain exports, the futures prices of wheat and corn on the Chicago Board of Trade fell.

Previously, western countries have been discussing the idea of establishing a "safe passage" for the grain export of Ukrainian ports, and said that such a passage needs the consent of Russia. The latest Russian statement shows that the attitude is obviously loose.

Russia is ready to establish a humanitarian channel for food exports.

As of press time, the main wheat contract on the Chicago Board of Trade fell by 1.5% to1.31USD per bushel. The main corn futures fell 1.4%, hovering around the six-week low, at $7.438/bushel.

According to Russian Interfax news agency quoted Russian Deputy Foreign Minister AndreiRudenko on Wednesday, Russia is prepared to build a humanitarian corridor for ships carrying food and let them leave Ukraine in exchange for lifting some sanctions.

"At this point, we have said many times that comprehensive measures are needed to solve the food problem, including lifting sanctions on Russian exports and financial transactions," Russian Deputy Foreign Minister Rudenco quoted. "It also requires the Ukrainian side to clear all ports where ships are moored. Russia is ready to provide necessary humanitarian access. "

A spokesman for the Russian Defense Ministry also said on Wednesday that the port in the southern Ukrainian city of upor in Mali was reopened. IgorKonashenkov, spokesman of the Russian Defense Ministry, said at a news conference that the port had "started to operate normally" after the demining work was completed.

On Wednesday, MikhailMizintsev, an official of the Russian Defense Ministry, said that the humanitarian sea corridors in the ports of the Black Sea and the Sea of Azov (including Odessa) will be open from 8 am to 7 pm every day.

Ukraine's grain exports usher in the dawn.

Since the outbreak of the Russian-Ukrainian conflict, Ukraine's Black Sea port has been in a state of blockade, with more than 20 million tons of grain trapped in the country's granaries.

Russia and Ukraine account for nearly one-third of the global wheat supply, and Ukraine is also an important supplier of corn and sunflower oil. The closure of Ukrainian ports has restricted a large number of food exports, which has led to the intensification of the global food crisis.

In addition, the price of wheat was also affected by the upward adjustment of crop and export forecast of Ukraine in 2022/23 by APK-Inform, a consultancy, because the winter harvest in Ukraine was better than expected.

The agency predicts that Ukraine will harvest 48.3 million tons of grain in 2022, including wheat 1.765438+ 10,000 tons and corn 25.2 million tons. The expected export volume in 2022/23 is raised from the previous 33.2 million tons to 39.4 million tons.