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Turkish officials planned to discuss a Black Sea grain corridor in Russia this week, according to sources. The plan envisages three corridors from Odesa under Kyiv's supervision for both Ukrainian and Russian food products.
Sources said 30-35 million tonnes of grain could be shipped within six to eight months.
A corridor capable of moving 30-35 million tonnes would significantly increase near-term export supply of corn and wheat, pressuring prices lower.
reuters.comJun 22, 2022After 80 past bearish geopolitics events, WHEAT 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.
