The Biden administration on Monday blasted Russia’s decision to halt participation in a deal allowing Ukraine to export grain through the Black Sea. Secretary of State Antony Blinken called the move “unconscionable,” and urged that the pact be restored. As MarketWatch reports, the move led to a short-lived rally in wheat and corn markets. “We’re seeing the impact right now,” White House spokesman John Kirby said. Meanwhile, concerns over global supplies of key commodities from Russia and Ukraine are set to climb, contributing to uncertainty over global inflation.
