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Freight rates for grain from Ukrainian ports fell in May 2024 as shipowners offered concessions amid weak demand. Corn freight from Greater Odesa to the Eastern Mediterranean dropped by US$1 to US$22-23 per tonne, and barge rates to Constanta fell to EUR 9-10 per tonne.
Lower Black Sea freight reduces the landed cost of Ukrainian corn and sunflower products into Europe and the Mediterranean. Weak demand suggests limited upward pressure on regional grain prices.
en.usm.mediaNinaMay 20, 2024After 359 past bearish logistics events, Corn moved a median -0.3% over 5 sessions (44% higher; middle half -1.5% to +1.5%), and -0.5% 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.
