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Over two dozen ships have left major Ukrainian Black Sea ports since the July 22 UN and Turkey-brokered grain deal, delivering about 600,000 tonnes to global markets. Progress is slower than the hoped-for 100 ships per month because shipping companies are reluctant to enter a war zone and market participants distrust Russia's commitments.
Slow resumption of Ukrainian grain exports limits how much new supply reaches the market, leaving wheat and corn prices supported relative to a full reopening.
dailynewnation.comNNONLINE 01Aug 23, 2022After 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.
