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A cargo of over 71,000 tonnes of Ukrainian corn finished loading at the Romanian Black Sea port of Constanta, the first since Russia invaded Ukraine on Feb. 24.
Ukraine's sea ports have been blocked, forcing grain exports by rail and through small Danube river ports.
Rerouting Ukrainian grain through Romania bypasses the blockade and adds some supply to world corn markets, but volumes are small relative to normal seaborne exports, so the price pressure from lost Ukrainian supply remains.
reuters.comApr 29, 2022After 359 past bearish logistics events, Corn moved a median -0.3% over 5 sessions (44% higher; middle half -1.5% to +1.5%), and -0.5% over 20.
After 163 past neutral logistics events, Wheat (SRW) moved a median +0.1% over 5 sessions (53% higher; middle half -1.3% to +1.1%), 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.
