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Ukraine is holding about 15 million tonnes of corn, roughly half of the expected season exports, that it has struggled to move to buyers. Markets are bracing for further disruption as Ukraine and Russia, together about a quarter of world grain trade, face complications in deliveries.
Large stranded corn stocks and disrupted deliveries from two major exporters tighten global corn and wheat availability, supporting prices and raising freight costs.
bloomberg.comMegan Durisin Albery, Pratik Parija, Irina AnghelMay 1, 2022After 323 past bullish geopolitics events, Corn moved a median +0.5% over 5 sessions (57% higher; middle half -1.5% to +2.9%), and +0.9% over 20.
After 361 past bullish geopolitics events, Wheat (SRW) moved a median +0.7% over 5 sessions (58% higher; middle half -1.4% to +3.7%), and +1.3% over 20.
Not enough comparable past events yet for a historical read.
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.
