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Turkey is negotiating with Russia and Ukraine to open a grain export corridor through the Bosphorus. Ukraine's Black Sea ports have been blocked since the February invasion.
More than 20 million tonnes of grain are stuck in silos there.
A Bosphorus corridor would give a route to release stranded grain, which would soften wheat and corn prices. Any delay keeps the supply shortage in place.
reuters.comOrhan CoskunMay 26, 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.
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.
