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Russia has so much wheat that exporters can't ship it all through standard Black Sea loading, so traders are using small ships in the Sea of Azov to move grain to deeper water for transfer to larger vessels. The Black Sea ports have reached their capacity limit.
Port bottlenecks forcing costlier transshipment raise freight and FOB costs for Russian wheat, supporting world wheat prices and tightening the export supply available to feed buyers.
gcaptain.comBloombergJun 29, 2018
bloomberg.comAnatoly MedetskyJun 28, 2018Not 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.
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.
