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Growing numbers of ships are sailing to Ukraine's Black Sea ports and leaving loaded with grain, metals and other cargo despite threats of attack and floating mines. The flow supports Ukraine's economy and restores supplies of wheat, corn, barley and sunflower oil to parts of Africa.
Rising Ukrainian grain exports add supply to world wheat and corn markets, which is bearish for prices. Lower freight and insurance costs also ease landed costs for feed importers.
apnews.comHanna Arhirova, Courtney BonnellNov 27, 2023After 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.
