
Turkey and the UN announced that the Black Sea Grain Deal, which allows safe export of Ukrainian grain, was renewed on March 18, 2023, for at least 60 days, half the intended period. Russia had warned that extensions beyond mid-May would depend on removing some Western sanctions.
Continuation removes a supply-disruption risk premium for Black Sea wheat and corn, which is mildly bearish for feed grain prices. The short duration keeps uncertainty alive into May.
Tras 87 eventos bajista de geopolítica pasados, Maíz se movió una mediana de +0,1 % en 5 sesiones (51% al alza; mitad central entre -1,5 % y +2,1 %), y +0,3 % en 20.
Tras 80 eventos bajista de geopolítica pasados, Trigo (SRW) se movió una mediana de -0,4 % en 5 sesiones (44% al alza; mitad central entre -1,4 % y +1,9 %), y -0,5 % en 20.
Variaciones de la referencia de cada materia prima desde el último cierre antes del evento. Las lecturas históricas agrupan eventos pasados del mismo tipo; describen lo ocurrido, no lo que ocurrirá. No es asesoramiento de inversión.
The Black Sea Grain Deal extension on March 18, just before the Monday drop, removed the risk of an export disruption from Ukraine and lowered the supply-risk premium in wheat, even though it ran only 60 days.