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Ukraine's commodity exports were thrown into chaos after Russia's invasion forced ports and railways to begin closing. Traders could no longer book vessels, though some ships already at port were still being loaded and expected to depart.
One major rail user said the government had suspended operations.
Ukraine is a major grain supplier, and a halt in its port and rail flows removes significant wheat, corn and sunflower supply from world markets, pushing prices sharply higher and raising freight costs.
bloomberg.comThomas Biesheuvel, Isis Almeida, Salma El WardanyFeb 24, 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.
Not enough comparable past events yet for a historical read.
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.
