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Ukraine and Russia signed an agreement to release grain and other agricultural goods stuck in Black Sea ports. UN Secretary General António Guterres called the deal a beacon of hope for hungry people worldwide.
Release of stranded Ukrainian grain eases global supply tightness, which lowers wheat and corn prices.
apnews.comAyse Wieting, Suzan FraserJul 22, 2022After 375 past bearish trade events, Wheat (SRW) moved a median -0.2% over 5 sessions (47% higher; middle half -2.0% to +1.1%), and -0.1% over 20.
After 683 past bearish trade events, Corn moved a median -0.2% over 5 sessions (47% higher; middle half -1.7% to +1.6%), and +0.3% 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.
