Loading…
Wheat futures spiked on June 9, 2022 after a Russian attack hit grain silos at the Ukrainian port of Mykolaiv, raising doubts about Ukrainian grain exports via the Black Sea. Chicago wheat had fallen 5-6% before the rebound, and French drought concerns added to volatility.
Doubts over Ukrainian port access tighten global wheat supply expectations, supporting wheat prices and raising costs for feed buyers.
fastmarkets.comMark ShenkJun 9, 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 94 past bullish geopolitics events, Wheat (HRW) moved a median +0.1% over 5 sessions (50% higher; middle half -2.7% to +5.8%), and +0.1% 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.
