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The Aroyat left Chornomorsk, the first large grain ship to depart a Ukrainian Black Sea port after Russia exited the grain deal, carrying 17,600 metric tons of Ukrainian wheat for Egypt. The departure was announced by Ukrainian minister Oleksandr Kubrakov on X.
Resumed seaborne wheat exports from Ukraine add supply to global wheat markets and ease fears of a prolonged blockage, which is modestly bearish for wheat and ocean freight rates.
reuters.comSep 22, 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.
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.
