Ukraine is ready to resume shipping its grain to a hungry world as the war-torn country has been waiting to export 20 million tons of wheat after Russia blocked the Black Sea ports following its invasion in February. The two countries last week agreed on a deal, negotiated via the UN and Turkey, to resume exports of wheat, barley, and corn to Egypt, the Horn of Africa, and elsewhere. News of the deal sent global wheat prices lower. 

Cheddar's News Wrap

Today Explained: Ukraine Preparing to Resume Grain Exports

Welcome back to Jeter's news wrap Today is friday july 29th. I'm headed over in new york city and I'm ken buffa. Also, New york city, Thank you so much for joining us. It is time for today explain where we break down some of the biggest stories in the news, how we got here, where we go next. We're gonna talk about Ukraine today says it's ready to resume exports from his Black sea ports again after a deal was reached with Russia just last week, 20 million tons of Ukrainian wheat has been stuck for months after Russia blocked the ports, sparking a global food crisis and Ukraine is a key global exporter of wheat, Barley and Corn. The West says Russia blocked the exports to strangle Ukraine's economy and gain leverage in the war. But the loss of Ukrainian supplies raise global food prices, pushing more people into poverty and hunger in already vulnerable countries. Egypt, for instance, is still waiting for around 300,000 tons of Ukrainian wheat meant to be delivered in February and March, and in the Horn of Africa countries like Somalia are on the brink of starvation after the region was hit by the worst drought in four decades, it relied on Ukraine for more than half of its wheat before the war and last week the two countries signed separate agreements with Turkey and the United Nations to resume exports. A coalition of Turkish, Ukrainian and U. N. Staff will monitor the loading of grain onto ships and ensure they're not carrying weapons. Then Ukrainian vessels will guide commercial ships along safe paths through mined areas along the coast. And vessels will be monitored by the same coalition as they crossed the Black Sea towards the Boss Forest straight and then on to their destination. And the news of the deal and the mere prospect of the grains release triggered a drop in global wheat prices. Today. Ukrainian president Vladimir Zelensky was in one of the ports where grain was loaded onto ships. He says Ukraine has kept its side of the bargain. Our side is fully ready. Our military will guarantee the vessels security. The Minister of Infrastructure is in direct contact with the Turkish side and the U. N. We are waiting for them to give us a nod that we can start. We believe that everyone will keep their commitments and guarantees so the ships and the personnel who risk their lives can be safe. We don't know how the process is going to go because we know who we are dealing with. Now. Russian missiles hit the ports city of Odessa, just hours after the agreement was signed, despite Moscow's promise not to attack it and worries remain over insurance of the ship's leaving Ukraine. It's unclear whether companies are willing to ensure the vessels navigating dangerous waters. While buyers are hesitant to make new orders, given the risk of a Russian attack