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The World Food Programme urged the reopening of Odesa-area ports to move grain out of Ukraine. Grain silos are full and the next harvest in July and August has nowhere to be stored.
WFP warned that 44 million people are at risk of starvation.
Reopening the ports would release stored grain to world markets and ease the humanitarian shortage. Without it, grain losses and storage constraints would keep global supply tight.
news.un.org© FAO/Genya SavilovMay 6, 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.
