European Union's Foreign Policy Chief, Josep Borrell Says That Russia Is Causing A Global Food Crisis With Grain Deal Withdrawal
Portfolio Pulse from Benzinga Newsdesk
The European Union's Foreign Policy Chief, Josep Borrell, has stated that Russia's withdrawal from a grain deal is causing a global food crisis.
July 20, 2023 | 7:25 am
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POSITIVE IMPACT
The Teucrium Wheat Fund (WEAT) could see a positive impact due to Russia's withdrawal from the grain deal, as it may lead to increased demand for wheat.
WEAT, an ETF that tracks the price of wheat, could benefit from Russia's withdrawal from the grain deal. The resulting global food crisis may increase the demand for wheat, potentially driving up the price.
CONFIDENCE 85
IMPORTANCE 70
RELEVANCE 90
NEGATIVE IMPACT
The Vanguard FTSE Europe ETF (VGK) could be impacted by Russia's withdrawal from the grain deal, as it may affect European economies.
VGK, which tracks the performance of the European stock market, could be negatively impacted as the food crisis caused by Russia's withdrawal from the grain deal may lead to economic instability in Europe.
CONFIDENCE 80
IMPORTANCE 60
RELEVANCE 70