Ukraine's grain output and exports have expanded rapidly, with an estimated 2018/19 crop of 69 million tonnes and exports above 47.6 million tonnes. The article also covers Black Sea security concerns, including NATO measures to ensure safe passage of Ukrainian ships through the Kerch Strait.
Black Sea shipping security risks could disrupt grain export flows, a background risk premium for world grain prices.
After 38 past neutral geopolitics events, Wheat (SRW) moved a median +0.1% over 5 sessions (53% higher; middle half -1.6% to +1.5%), and +0.8% over 20.
After 31 past neutral geopolitics events, Corn moved a median -0.3% over 5 sessions (42% higher; middle half -2.3% to +1.1%), and +0.2% 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.