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Wheat futures fell 15 to 35 cents on prospects of easing Russia-Ukraine tensions that could resume Black Sea grain shipments. Corn and soybeans were lower or steady, and USDA reported a daily sale of 159,000 MT of corn to Mexico.
Hopes of Black Sea shipments resuming would ease wheat supply concerns and pressure feed grain prices, though ongoing war keeps the market sensitive to headlines.
profarmer.comPro Farmer EditorsMar 14, 2022profarmer.comPro Farmer EditorsMar 15, 2022After 80 past bearish geopolitics events, Wheat (SRW) moved a median -0.4% over 5 sessions (44% higher; middle half -1.4% to +1.9%), and -0.5% over 20.
After 20 past neutral geopolitics events, Soybeans moved a median -0.6% over 5 sessions (45% higher; middle half -2.2% to +1.5%), and +0.9% over 20.
After 87 past bearish geopolitics events, Corn moved a median +0.1% over 5 sessions (51% higher; middle half -1.5% to +2.1%), and +0.3% over 20.
After 12 past bearish geopolitics events, Palm Oil moved a median -4.5% over 5 sessions (17% higher; middle half -5.9% to -2.3%), and -6.2% 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.
