Insurers are no longer offering new cargo insurance coverage for shipments out of Ukraine through the Black Sea corridor after Russia suspended its participation, industry sources told Reuters.

The grain markets will continue to trade headlines, and longer term, the key will be how much export business the U.S. picks up.

“In the last 2,500 years, every Chinese government that has fallen, has fallen over food,” says Kuehl, Armada chief economist. “They need those import markets—be it from the U.S, Canada, Brazil or Australia.”

Grains were higher with cotton limit up on news China may relax its COVID policy. Cattle consolidate ahead of the Fed decision. Michelle Rook talks to John Payne of Hedge Point Global Markets.

Cattle consolidate ahead of the Fed announcement, with hogs up. Soybeans rallying on China and Brazil news and corn is trying to follow. Michelle Rook gets an update with Brad Kooima of Kooima Kooima Varilek.

SINGAPORE, Oct 31 (Reuters) - Russia’s weekend backtrack from a U.N.-brokered deal to export Black Sea grains is likely to hit shipments to import-dependent countries.