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An RFE/RL investigation with partner groups found that Russian firms shipped tens of thousands of tons of wheat, barley, corn and peas from occupied Ukrainian territory in 2023 to buyers including Spain, Turkey, Iran and Syria. Satellite estimates put 2023 wheat harvests in occupied areas at 6.4 million tons, with about 2 million tons shipped from Crimean ports.
Grain sold as Russian-origin from occupied Ukraine adds to Black Sea export supply and helps fund the war, but the volumes are small relative to global trade, so the direct price effect is limited.
rferl.orgMaksym Savchuk, Maksym DudchenkoJun 22, 2024After 38 past neutral geopolitics events, Wheat (SRW) moved a median +0.1% over 5 sessions (53% higher; middle half -1.6% to +1.5%), and +0.8% over 20.
After 31 past neutral geopolitics events, Corn moved a median -0.3% over 5 sessions (42% higher; middle half -2.3% to +1.1%), and +0.2% 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.
