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Ukraine said Russia struck a grain vessel near Romania's maritime zone, a NATO member. Russia has been battling Ukraine in the Black Sea to keep Ukrainian sea exports flowing under the U.N.-mediated deal framework.
Attacks on grain ships raise war-risk insurance and shipping costs and threaten Black Sea supply, supporting wheat and corn prices.
reuters.comPavel Polityuk, Yuliia Dysa, Tom BalmforthSep 12, 2024After 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.
