# Russia invades Ukraine

> Black Sea ports close; wheat, corn and sunflower oil exports halt. Wheat hits all-time highs, energy and fertilizer surge.

- Date: 2022-02-24 · published 2022-02-24T12:00:00.000Z
- Category: geopolitics · region Black Sea
- Page: https://feedsoft.ai/events/18-russia-invades-ukraine
- Commodities: [Wheat (SRW)](https://feedsoft.ai/c/WHEAT.md), [Wheat (HRW)](https://feedsoft.ai/c/KWHEAT.md), [Corn](https://feedsoft.ai/c/CORN.md), [Soybean Oil](https://feedsoft.ai/c/SBO.md), [Palm Oil](https://feedsoft.ai/c/PALMOIL.md), [Crude Oil (WTI)](https://feedsoft.ai/c/WTI.md), [Natural Gas](https://feedsoft.ai/c/NATGAS.md), [ULSD / Diesel](https://feedsoft.ai/c/DIESEL.md), [Urea](https://feedsoft.ai/c/UREA.md), [Potash (KCl)](https://feedsoft.ai/c/POTASH.md), [DAP](https://feedsoft.ai/c/DAP.md)

## Linked price moves

| Commodity | Date | Window | Change % | z-score | Why linked |
| --- | --- | --- | --- | --- | --- |
| KWHEAT | 2022-02-24 | 5 | +19.2% | 4.0 | Russia's invasion of Ukraine closed Black Sea ports and halted exports from two major wheat exporters (roughly a quarter of global wheat trade), causing a sharp supply/trade-flow shock and risk premium that drove HRW futures sharply higher. |
| KWHEAT | 2022-02-24 | 5 | +19.2% | 4.0 | Russia's invasion of Ukraine closed Black Sea ports and halted exports from two major wheat exporters (roughly a quarter of global wheat trade), causing a sharp supply/trade-flow shock and risk premium that drove HRW futures sharply higher. |
| KWHEAT | 2022-03-04 | 5 | +35.4% | 7.0 | Russia's invasion of Ukraine closed Black Sea ports and halted exports from two of the world's largest wheat exporters, a sudden supply and trade-flow shock that drove the record HRW rally in the following trading days. |
| WHEAT | 2022-03-04 | 5 | +59.9% | 10.6 | Russia's invasion of Ukraine closed Black Sea ports and halted exports from two major wheat exporters, removing a large share of world export supply and triggering panic buying that drove SRW futures to record highs in the five days ending 2022-03-04. |
| WHEAT | 2022-03-04 | 5 | +22.0% | 7.0 | Russia's invasion of Ukraine closed Black Sea ports and halted exports from two major wheat exporters, removing a large share of world export supply and triggering panic buying that drove SRW futures to record highs in the five days ending 2022-03-04. |
| KWHEAT | 2022-03-04 | 5 | +35.4% | 7.0 | Russia's invasion of Ukraine closed Black Sea ports and halted exports from two of the world's largest wheat exporters, a sudden supply and trade-flow shock that drove the record HRW rally in the following trading days. |

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| WHEAT | 2022-02-24 | [Wheat, soybeans hit nine-year highs as Russia invades Ukraine](https://feedsoft.ai/events/8527-wheat-soybeans-hit-nine-year-highs-as-russia-invades-ukraine.md) | +6.8% | +25.3% |
| WHEAT | 2022-02-24 | [Commodity supplies at risk as Russia invades Ukraine \| Reuters](https://feedsoft.ai/events/14508-commodity-supplies-at-risk-as-russia-invades-ukraine-reuters.md) | +6.8% | +25.3% |
| WHEAT | 2022-02-24 | [Export issues ahead as Russia invades Ukraine: Analyst’s insight \| AHDB](https://feedsoft.ai/events/6308-export-issues-ahead-as-russia-invades-ukraine-analyst-s-insight-ahdb.md) | +6.8% | +25.3% |
| WHEAT | 2022-02-25 | [Dollar surges as Russia invades Ukraine - Business & Finance - Business Recorder](https://feedsoft.ai/events/6985-dollar-surges-as-russia-invades-ukraine-business-and-finance-business-recorder.md) | +9.4% | +23.7% |
| WHEAT | 2022-02-24 | [Dollar jumps to near two-year high as Russia invades Ukraine \| Reuters](https://feedsoft.ai/events/6980-dollar-jumps-to-near-two-year-high-as-russia-invades-ukraine-reuters.md) | +6.8% | +25.3% |
| KWHEAT | 2022-02-24 | [AgriMarketing.com - Wheat Prices Soar Following Russia's Invasion Of Ukraine](https://feedsoft.ai/events/42753-agrimarketing-com-wheat-prices-soar-following-russia-s-invasion-of-ukraine.md) | +17.5% | +21.7% |
| KWHEAT | 2026-07-16 | [Russia and Ukraine strike vessels in Black Sea, wheat prices jump](https://feedsoft.ai/events/7279-russia-and-ukraine-strike-vessels-in-black-sea-wheat-prices-jump.md) | +6.0% | +0.1% |
| KWHEAT | 2022-01-31 | [Russia-Ukraine Tensions Drive Global Wheat Prices Higher](https://feedsoft.ai/events/43173-russia-ukraine-tensions-drive-global-wheat-prices-higher.md) | -2.1% | +18.9% |

## Sources

- Wikipedia: https://en.wikipedia.org/wiki/2022%E2%80%932023_food_crises
- Wikipedia: https://en.wikipedia.org/wiki/Russian_invasion_of_Ukraine

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Data from Feedsoft AI (https://feedsoft.ai/). For information only; not investment advice.