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Ukraine is racing to move millions of tonnes of wheat and corn through alternative routes, including Romanian ports, rail and river, because its own ports are shut. Five cargo vessels have been hit by munitions and one has sunk.
Ukraine holds about 7 million tonnes of wheat and 13 million tonnes of corn for export, worth $6 to $7 billion.
Successful rerouting would release stranded corn and wheat into world markets, which would partly offset the supply loss. Slow progress keeps the supply squeeze in place.
theglobeandmail.comNathan VanderKlippeMar 10, 2022After 284 past neutral logistics events, CORN moved a median -0.0% over 5 sessions (49% higher; middle half -1.3% to +1.4%), and -0.2% over 20.
After 163 past neutral logistics events, WHEAT 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.
