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Russia plans to temporarily restrict the movement of foreign warships in part of the Black Sea, and the Kerch Strait will remain open. Ukraine's foreign ministry called the measures illegal.
The Pentagon accused Russia of harassing vessels and undermining Ukraine.
The story raises the risk of disruption to Black Sea shipping, but the Kerch Strait staying open limits the immediate effect on grain flows. Buyers should note the added risk premium for Black Sea origins.
reuters.comApr 16, 2021After 493 past geopolitics events, Wheat (SRW) moved a median +0.4% over 5 sessions (55% higher; middle half -1.4% to +3.6%), and +1.0% over 20.
After 464 past geopolitics events, Corn moved a median +0.3% over 5 sessions (54% higher; middle half -1.6% to +2.5%), and +0.5% 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.
