
Russian missile attacks in September and October 2024 hit Greater Odesa port infrastructure and grain-carrying vessels, the most intense strikes on Ukraine's agricultural infrastructure in over a year. Four ships hit in October were carrying agricultural cargoes bound for Egypt, Italy and Southern Africa.
Repeated strikes on export ports raise shipping risk and insurance costs, which tightens Black Sea grain flows and supports wheat, corn and freight prices.
After 361 past bullish geopolitics events, Wheat (SRW) moved a median +0.7% over 5 sessions (58% higher; middle half -1.4% to +3.7%), and +1.3% over 20.
After 323 past bullish geopolitics events, Corn moved a median +0.5% over 5 sessions (57% higher; middle half -1.5% to +2.9%), and +0.9% over 20.
Not enough comparable past events yet for a historical read.
Moves of each commodity's benchmark from the last close before the event. Historical reads pool past events of the same kind; they describe what happened, not what will. Not investment advice.