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Grain shipments from Romanian and Bulgarian Black Sea ports have slowly restarted on smaller vessels as buyers seek alternatives to Ukrainian and Russian cargoes. Larger vessel owners remain unwilling to load Russian cargoes, and some demand premiums of around $2,000 per day to enter Russian ports.
Limited vessel availability and high risk premiums raise freight costs and restrict Black Sea supply, supporting grain prices while alternative origins take time to ramp up.
scceu.orgscceuApr 10, 2022Not enough comparable past events yet for a historical read.
After 283 past bullish logistics events, Wheat (SRW) moved a median -0.2% over 5 sessions (46% higher; middle half -1.4% to +1.3%), and -0.1% over 20.
After 285 past bullish logistics events, Corn moved a median +0.1% over 5 sessions (52% higher; middle half -1.5% to +1.5%), and +0.8% 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.
