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Three Panamax cargoes of French grain have been fixed for China since October 15, as Black Sea corn prices rose on a poor Ukrainian harvest. The Platts FOB Black Sea corn assessment reached $231/mt on November 4, up from $199.50 on October 1.
Ukraine's below-average corn yield and higher Black Sea prices are pulling Chinese demand toward alternative origins, which supports global corn values and lifts freight demand on longer routes.
spglobal.comWilliam HealyNov 5, 2020After 1,465 past bullish weather events, Corn moved a median +0.2% over 5 sessions (54% higher; middle half -1.4% to +1.9%), and +0.9% over 20.
After 1,072 past bullish weather events, Wheat (SRW) moved a median +0.2% over 5 sessions (55% higher; middle half -1.4% to +2.3%), and +0.3% 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.
