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Grain shipping is described as navigating turbulent conditions due to COVID-19 lockdowns in China and Russia's invasion of Ukraine. Ukraine's wheat and agricultural exports are largely shut off by the Russian blockade and control of Black Sea ports.
Chinese port congestion and hinterland shutdowns, especially in Shanghai, are also disrupting dry bulk freight.
Blocked Black Sea exports and Chinese port congestion tighten grain supply and raise freight costs, supporting wheat and corn prices and feed ingredient costs.
world-grain.comMichael KingJun 10, 2022After 283 past bullish logistics events, Wheat (SRW) moved a median -0.2% over 5 sessions (46% higher; middle half -1.4% to +1.3%), and -0.1% over 20.
Not enough comparable past events yet for a historical read.
After 285 past bullish logistics events, Corn moved a median +0.1% over 5 sessions (52% higher; middle half -1.5% to +1.5%), and +0.8% 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.
