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RaboResearch says the Black Sea trade shutdown has pushed corn and wheat prices to decade highs. Its report expects the conflict to cut global grain supplies and forecasts that higher US exports would raise 2022/23 farm prices.
Sustained loss of Black Sea grain shifts demand toward US supplies and lifts the longer-term price outlook for corn and wheat, supporting feed grain costs.
feedandgrain.comMar 30, 2022After 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.
After 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.
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.
