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Russia and Turkey agreed to pursue talks on a potential safe sea corridor in the Black Sea to export Ukrainian grain, after discussions in Moscow. The defence ministries announced the agreement on Wednesday.
Ukrainian wheat shipments remain halted by Russia's invasion.
Reopening Ukrainian Black Sea ports would release stranded wheat and corn supplies, easing tight global feed grain prices and reducing the premium on alternative origins.
reuters.comJun 23, 2022After 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.
After 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.
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.
