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Graintab notes that Red Sea disruptions are affecting grain markets, with roughly 7 million tonnes of grain normally transiting Suez each month now being rerouted. Extra shipping costs are being absorbed by both buyers and exporters.
Shifts toward local and regional sourcing, such as EU imports from Ukraine, are adding price pressure.
Rerouted grain flows and higher freight costs tighten effective supply to some importers and raise delivered prices, while Europe's rapeseed imports from Australia may be hampered.
graintab.comCRM AgriFeb 2, 2024Not enough comparable past events yet for a historical read.
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.
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.
