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Ukraine's agriculture minister said Russia had blocked use of the Pivdennyi port and allowed only one ship a day to carry Ukrainian food to certain countries. Kyiv proposed insurance guarantees for shipping outside a Russian-involved deal and said it still hoped the current initiative would work.
Restricted port access and slow inspections cut Ukrainian grain shipments, supporting corn and wheat prices, while a backup plan could limit the size of that effect.
reuters.comPavel PolityukJun 2, 2023After 323 past bullish geopolitics events, Corn moved a median +0.5% over 5 sessions (57% higher; middle half -1.5% to +2.9%), and +0.9% over 20.
After 361 past bullish geopolitics events, Wheat (SRW) moved a median +0.7% over 5 sessions (58% higher; middle half -1.4% to +3.7%), and +1.3% 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.
