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BIMCO warned that renewed Russian missile attacks on merchant ships in Ukrainian ports threaten 1% of global dry bulk exports. Five merchant ships have been hit since September 2024, the first such attacks since November 2023.
War-risk insurance premiums have already risen, though export volumes have so far been limited.
Higher war-risk insurance and possible disruption to Black Sea grain shipments could raise freight costs and food prices for importers.
spglobal.comThomas Washington, Konstantinos FrentzosOct 23, 2024Not enough comparable past events yet for a historical read.
After 283 past bullish logistics events, Wheat (SRW) moved a median -0.2% over 5 sessions (46% higher; middle half -1.4% to +1.3%), and -0.1% over 20.
After 285 past bullish logistics events, Corn moved a median +0.1% over 5 sessions (52% higher; middle half -1.5% to +1.5%), and +0.8% over 20.
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.
