Russia has halted a wartime deal that allowed grain to be exported from Ukraine to countries in Africa, the Middle East and Asia. 

The agreement protects grain exports from being attacked by Russian forces.

The deal was brokered by the United Nations and Turkiye in July last year and aims to alleviate a global food crisis.

Wheat and corn futures rose to a two week high, before falling back.

Russia says the Black Sea Grain Initiative will be suspended until demands to get Russian food and fertiliser to the world are met.

The decision came after an attack on a bridge connecting the Crimean Peninsula to Russia, which left two people dead.

Moscow has blamed Ukraine for the incident, but Ukraine has not officially claimed responsibility.

Ukraine says the grain agreement can function without Russia, while Moscow says it will consider rejoining the pact if it saw "concrete results" on its demands.

Analysts say the deal may be renewed and that's why grain prices fell after rising.

"I think it's suspended; it's maybe not over", said Shermin Newlin, analyst for Risk Management Commodities.

"There's still some hope out there."

Food prices could surge for the world's poorest people if the deal is not renewed. 

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