Reason to be 'cautiously optimistic' on renewal of Ukraine grain deal -U.N. source

A United Nations source on Wednesday said they have reasons to be "cautiously optimistic" on the renewal of the Black Sea grains initiative, which is set to roll over on Saturday unless there are objections.

The U.N.-backed agreement in late July allowed grain shipments to resume from certain Ukrainian ports on the Black Sea, leading to some 10 million tonnes in shipments and helping curb international prices.

Optimism has grown that Russia will approve the deal's continuation after protracted talks over Moscow's grievances about impediments to its grain and fertiliser exports.