Ukraine's Foreign Ministry accused Russia of blocking parts of the Black Sea, the Sea of Azov and the Kerch Strait under planned naval exercises from Feb. 13 to 19.
Ukrainian exporters may have to reroute shipments from Odessa, Pivdennyi and Chornomorsk, which together handle the country's 33.5 million tonnes of corn exports for 2021/22.
Possible rerouting and blockade risk raises freight costs and threatens delivery of Ukrainian corn and wheat, supporting feed grain prices.
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.
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.
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.