Russia-Ukraine Grain Deal Won’t Translate Into Big Exports Immediately

LONDON—The deal between Moscow and Kyiv to allow for the export of Ukrainian grain is helping push global prices lower, but it won’t translate into a slug of new exports soon.

Wheat prices fell Friday, as the deal raised hopes that a restart to Ukrainian grain exports would ease a brewing global food-supply crisis. Wheat futures traded in Chicago were down more than 4% at $7.72 a bushel.

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