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Ukrainian officials said ships are ready to export grain through a temporary corridor after Russia withdrew from the grain deal in July. Doubts persist over durability, with insurers and analysts citing Russia's unresolved demand to reconnect its Agricultural Bank to SWIFT and ongoing insurance concerns.
Uncertainty over the durability of the corridor and insurance costs keeps a risk premium in wheat and freight prices, limiting how bearish the restart of Ukrainian shipments can be.
spglobal.comThomas WashingtonSep 18, 2023After 163 past neutral logistics events, Wheat (SRW) moved a median +0.1% over 5 sessions (53% higher; middle half -1.3% to +1.1%), and -0.3% 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.
