Loading…
According to the USDA Grain Transportation Report, conflict in Sudan led London's marine insurers to add the country to its high-risk list on April 25. Ships bound there must pay war-risk premiums, and Sudan took about 123,000 metric tons of US grain sorghum in 2022, all shipped as food aid.
Higher insurance and cargo-preference costs make US sorghum food aid to Sudan more expensive to deliver, which may reduce demand for sorghum in that market. The effect on world prices is limited because the volume is small.
cnbc.comLori Ann LaRoccoJun 9, 2023Not 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.
