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Dry bulk freight markets are at depressed levels, with Capesize rates near record lows. Reports cite port disruptions at some Argentine ports, Russia reportedly holding back phytosanitary certificates, and some Black Sea countries considering holding back wheat supplies.
Weak freight and port disruptions in South America and the Black Sea can slow grain movements, while possible wheat hoarding in the Black Sea would tighten export availability and support wheat prices.
grains.orgMar 26, 2020grains.orgMar 26, 2020Not enough comparable past events yet for a historical read.
After 283 past bullish logistics events, Wheat (SRW) moved a median -0.2% over 5 sessions (46% higher; middle half -1.4% to +1.3%), and -0.1% over 20.
After 284 past neutral logistics events, Corn moved a median -0.0% over 5 sessions (49% higher; middle half -1.3% to +1.4%), and -0.2% 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.
