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Russia said it is ready to provide a humanitarian corridor for ships carrying food out of Ukraine. The offer is conditional, with Russia seeking the lifting of some sanctions.
The statement came via Interfax, citing a Russian deputy foreign minister.
A corridor would release Ukrainian grain, but sanctions conditions make implementation uncertain. Any real opening would push wheat and corn prices lower.
reuters.comMay 25, 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.
