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Russia withdrew from the Black Sea grain deal, ending the arrangement that allowed Ukrainian grain exports through three ports. Analysts warn that food prices could surge again and become volatile.
The deal had been credited with easing food price inflation in 2022.
Losing safe passage for Ukrainian and Russian grain cuts export capacity from two major suppliers. This raises risk premiums for wheat and corn and could lift prices.
abc.net.auClint JasperJul 18, 2023After 361 past bullish geopolitics events, Wheat (SRW) moved a median +0.7% over 5 sessions (58% higher; middle half -1.4% to +3.7%), and +1.3% over 20.
After 323 past bullish geopolitics events, Corn moved a median +0.5% over 5 sessions (57% higher; middle half -1.5% to +2.9%), and +0.9% 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.
