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Ukraine's Ministry of Communities, Territories and Infrastructure reported that 37.4 million tons of agricultural products were exported to 45 countries over the first 10 months of the sea corridor's operation. Ports of Greater Odesa handled 55 million tons of cargo in that period, and 68 vessels carrying about 2 million tons were waiting to enter.
Continued high Ukrainian export volumes add to global grain supply, which is mildly bearish for wheat and corn. The queue of waiting ships points to some short-term congestion.
ukragroconsult.comJun 27, 2024After 137 past bearish logistics events, Wheat (SRW) moved a median -0.3% over 5 sessions (44% higher; middle half -2.2% to +1.0%), and +0.0% over 20.
After 359 past bearish logistics events, Corn moved a median -0.3% over 5 sessions (44% higher; middle half -1.5% to +1.5%), and -0.5% 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.
