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Ukrainian agribusiness Kernel is selling its 50% stake in the Taman grain terminal in Russia, its last Russian asset, with Glencore seen as the likely buyer. The terminal handled a record 3.38 million tonnes last season but shipments are down 14% year-on-year this season.
This is a corporate ownership change at a Russian export terminal rather than a supply shock, so it has little direct effect on grain prices.
en.interfax.com.uaMar 31, 2017After 823 past logistics events, Wheat (SRW) moved a median -0.2% over 5 sessions (46% higher; middle half -1.5% to +1.2%), and -0.1% over 20.
After 1,054 past logistics events, Corn moved a median -0.1% over 5 sessions (48% higher; middle half -1.5% to +1.5%), and -0.0% 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.
