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Concern is rising that exporters may restrict food staple sales during lockdowns covering about a fifth of the world's population. Vietnam and Kazakhstan have already moved to restrict sales, Russia's vegetable oil union has called for curbs on sunflower seed exports, and Iraq needs 1 million tonnes of wheat.
Export restrictions by several major suppliers and fresh import demand from Iraq tighten world wheat, rice and vegetable oil supplies, supporting prices across these markets.
straitstimes.comMar 26, 2020After 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 12 past bullish geopolitics events, Rough Rice moved a median +1.6% over 5 sessions (58% higher; middle half -0.5% to +6.8%), and +5.4% 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.
