# Black Sea Initiative to keep markets volatile short term: Grain market daily | AHDB

> UK feed wheat futures for May 2023 closed at £245.00/t, with the new-crop November contract at £241.50/t. Concern over Ukraine's grain corridor is growing as fighting escalates, and a record Brazilian soybean harvest is pressuring US soybean futures.

- Date: 2023-02-15 · published 2023-02-15T12:00:00.000Z
- Category: geopolitics · region Black Sea · magnitude medium
- Page: https://feedsoft.ai/events/37226-black-sea-initiative-to-keep-markets-volatile-short-term-grain-market-daily-ahdb
- Commodities: [Wheat (SRW)](https://feedsoft.ai/c/WHEAT.md), [Soybeans](https://feedsoft.ai/c/SOY.md)

## Why it matters

Uncertainty over the Black Sea corridor supports wheat prices, while a large Brazilian soybean crop weighs on soy and meal values ahead of South American export season.

## Read by commodity

- SOY: bearish ▼
- WHEAT: bullish ▲

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| WHEAT | 2022-01-25 | [Frost risk remains for Black Sea crops: Grain market daily \| AHDB](https://feedsoft.ai/events/43080-frost-risk-remains-for-black-sea-crops-grain-market-daily-ahdb.md) | -2.1% | -0.8% |
| WHEAT | 2024-11-27 | [How much Black Sea wheat is at risk of disruption? Grain market daily  \| AHDB](https://feedsoft.ai/events/14251-how-much-black-sea-wheat-is-at-risk-of-disruption-grain-market-daily-ahdb.md) | -0.1% | +2.1% |
| WHEAT | 2017-10-03 | [Black Sea attacks revive fears of grain market turmoil - The Daily](https://feedsoft.ai/events/68358-black-sea-attacks-revive-fears-of-grain-market-turmoil-the-daily.md) | +4.7% | +0.4% |
| WHEAT | 2023-02-27 | [Ukraine seeks changes to the Black Sea Grain Initiative](https://feedsoft.ai/events/14418-ukraine-seeks-changes-to-the-black-sea-grain-initiative.md) | -2.4% | -7.4% |
| WHEAT | 2023-07-27 | [Dry Bulk Market: Russia’s Exit from the UN Black Sea Grain Initiative Will Have an Impact on Market - Nautical Voice](https://feedsoft.ai/events/35235-dry-bulk-market-russia-s-exit-from-the-un-black-sea-grain-initiative-will-have.md) | +0.0% | -2.0% |
| SOY | 2022-01-25 | [Frost risk remains for Black Sea crops: Grain market daily \| AHDB](https://feedsoft.ai/events/43080-frost-risk-remains-for-black-sea-crops-grain-market-daily-ahdb.md) | +6.2% | +16.5% |
| SOY | 2023-05-17 | [Black Sea deal extension sinks grain prices](https://feedsoft.ai/events/5012-black-sea-deal-extension-sinks-grain-prices.md) | -3.0% | +1.8% |
| SOY | 2023-05-04 | [Wheat climbs to one-week high on Black Sea supply concerns - Markets - Business Recorder](https://feedsoft.ai/events/7384-wheat-climbs-to-one-week-high-on-black-sea-supply-concerns-markets-business.md) | -0.8% | -8.2% |

## Sources

- mainsitelive.azurewebsites.net: https://mainsitelive.azurewebsites.net/news/black-sea-initiative-to-keep-markets-volatile-short-term-grain-market-daily

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