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Bloomberg reports that Russian grain traders are increasingly using ship-to-ship transfers because Black Sea deep-water ports have reached capacity. Novorossiysk Grain Plant moved to a 24-hour schedule, and volumes have at times exceeded recommended equipment capacity.
Azov ports load about 5,000 tonnes per ship, while Kerch Strait vessels take up to 75,000 tonnes.
Terminal constraints raise freight and handling costs for Russian wheat, which can narrow the export price advantage and support wheat values for buyers sourcing from the Black Sea.
realnoevremya.comAnna LitvinaJul 6, 2018After 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.
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.
