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Black Sea dry bulk spot trading has resumed as Ukrainian ports Odessa and Yuzhny see a backlog of loaded ships and new spot grain inquiries. Some spot fertilizer cargo inquiry also emerged from Russian Black Sea ports, though freight rates are high and inconsistent due to insurance difficulties.
Renewed Black Sea grain flows add export supply and pressure wheat and corn prices, while high freight and insurance costs keep delivered prices elevated for importers.
scceu.orgAug 21, 2022After 137 past bearish logistics events, Wheat (SRW) moved a median -0.3% over 5 sessions (44% higher; middle half -2.2% to +1.0%), and +0.0% over 20.
After 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.
