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U.N. – Russia trade allowance talks unlikely to help

A leading grain market economist doubts negation attempts by the United Nations with Russia to allow Ukrainian grain exports will open any trade.

Kenneth Scott Zuckerberg with CoBank’s Knowledge Exchange tells Brownfield the U.N. likely doesn’t have the authority to make a deal with Russia removing sanctions against the country.

“First of all, the U.N. isn’t in charge of the sanctions that are coming against Russia,” he said. “And then second, there’s a lot of speculation about whether they could get this deal done.”

He said even if the sanctions were lifted, and trade resumed…

“The war in Ukraine could end tomorrow and things would not immediately go back to normal,” Zuckerberg said.

Zuckerberg said the global grain complex is likely in a two-year readjustment period.