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Ukraine launched a humanitarian corridor in August for ships bound to African and Asian markets, aiming to get around a de facto Russian blockade of its seaborne exports. Kyiv says the corridor is working despite Russian attacks.
A functioning corridor restores Ukrainian grain flows that were blocked, which weighs on wheat and corn prices. Continued attacks keep war-risk premiums and freight costs elevated.
reuters.comNov 9, 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.
