"Key Events and Updates: July 17, 2023"

Grains and soybeans surge in overnight trading as Russia announces its withdrawal from the Black Sea Grain Initiative, citing non-compliance by western countries and the United Nations. Corn and wheat futures rise, while investors become more bearish on corn and less bullish on soybeans. In other news, a heatwave is expected to persist in parts of Kansas, Oklahoma, Texas, and Arkansas, with heat indexes reaching as high as 110°F. Air quality alerts have been issued in several states due to smoke from Canadian wildfires.