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A World Bank blog reports that global wheat shipments held up after Russia's invasion of Ukraine, with no major disruptions to seaborne wheat trade. Wheat prices returned to pre-war levels by the end of 2022.
The finding that supply chains proved resilient reinforces that wheat and feed grain prices have normalized, with no current war-driven premium.
After 406 past neutral report events, Wheat (SRW) moved a median -0.2% over 5 sessions (47% higher; middle half -1.6% to +1.5%), and +0.0% 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.