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Reuters reports that at the current export pace it would take about six months to ship the remaining grain from last year's harvest through the three Ukrainian ports. A new harvest, including about 20 million tonnes of wheat and roughly 30 million tonnes of corn, will add to the backlog.
A slow clearance of old stocks combined with a large new crop keeps Ukrainian corn and wheat supplies heavy, which tends to cap export prices.
reuters.comJonathan SaulSep 8, 2022After 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.
After 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.
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.
