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Black Sea grain exports rebounded in the first quarter of 2024, with Ukraine shipping about 12.3 million tonnes, up roughly 20% year on year. Red Sea attacks have led shipowners to avoid the Suez route, though Black Sea shipments to Asia remain strong.
Stronger-than-expected Ukrainian export volumes add supply to world grain markets, while Red Sea rerouting raises freight costs for cargoes from the Black Sea to Asia.
brsshipbrokers.comMay 9, 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.
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.
