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Growing grain imports into North Africa, particularly Egypt, are creating demand for bulk shipping. Governments are also building strategic reserves, which adds to demand.
Ukraine is cited as a key origin for loading bulkers bound for Egypt.
Rising North African import demand could support bulk freight rates and Black Sea grain export flows, adding modest upward pressure on wheat and freight costs.
tradewindsnews.comDale WainwrightSep 21, 2020After 431 past bullish trade events, Wheat (SRW) moved a median +0.0% over 5 sessions (50% higher; middle half -1.3% to +2.1%), and +0.5% 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.
