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Reuters reports on the Russia-Ukraine conflict highlighting the vulnerability of global wheat supply. The excerpt notes that buffer stocks play a role and that the supply balance is very difficult.
Concern about lost Black Sea wheat exports supports global wheat prices as importers seek alternative origins and buffer stocks shrink.
reuters.comGus TrompizMar 3, 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.
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.
