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The Black Sea grain deal, brokered by the UN and Turkey, has allowed Ukraine to export over 30 million tonnes of grain from ports including Odesa, Chernomorsk and Yuzhny. A Joint Coordination Centre in Istanbul oversees the corridor, which bars military vessels within 10 nautical miles without authorization.
Safe Ukrainian corridor flows keep corn, wheat and barley supplies moving to importers, which tends to ease upward price pressure on feed grains.
reuters.comMichelle NicholsMay 17, 2023After 87 past bearish geopolitics events, Corn moved a median +0.1% over 5 sessions (51% higher; middle half -1.5% to +2.1%), and +0.3% over 20.
After 80 past bearish geopolitics events, Wheat (SRW) moved a median -0.4% over 5 sessions (44% higher; middle half -1.4% to +1.9%), 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.
