# Black Sea tensions keep grain prices afloat

> Corn, soybeans and wheat all rose on May 5, 2023, as concerns grew that Russia might not renew the Black Sea shipping deal set to expire later in the month. Corn firmed about 1%, while soybeans and wheat gained double digits by the close. Wet weather was forecast for the central US over the weekend.

- Date: 2023-05-05 · published 2023-05-05T12:00:00.000Z
- Category: geopolitics · region Black Sea · magnitude medium
- Page: https://feedsoft.ai/events/7385-black-sea-tensions-keep-grain-prices-afloat
- Commodities: [Corn](https://feedsoft.ai/c/CORN.md), [Soybeans](https://feedsoft.ai/c/SOY.md), [Wheat (SRW)](https://feedsoft.ai/c/WHEAT.md)

## Why it matters

Risk to Black Sea shipping supports grain prices, and forecast US rain may add to the upside for corn and soybeans. Buyers should expect firm feed grain prices until the deal's status is clear.

## Read by commodity

- SOY: bullish ▲
- CORN: bullish ▲
- WHEAT: bullish ▲

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| CORN | 2025-12-02 | [U.S. grains: Corn, wheat futures climb on Black Sea tensions - Grainews](https://feedsoft.ai/events/21560-u-s-grains-corn-wheat-futures-climb-on-black-sea-tensions-grainews.md) | +0.5% | +0.3% |
| CORN | 2025-12-02 | [Market Snapshot \| Black Sea tensions spur rally in grains - Pro Farmer](https://feedsoft.ai/events/11262-market-snapshot-black-sea-tensions-spur-rally-in-grains-pro-farmer.md) | +0.5% | +0.3% |
| CORN | 2022-10-30 | [Grain market braces for price flurry as Black Sea corridor in doubt](https://feedsoft.ai/events/39027-grain-market-braces-for-price-flurry-as-black-sea-corridor-in-doubt.md) | -2.2% | -3.8% |
| CORN | 2022-03-30 | [Black Sea Shutdown Increases Corn, Wheat Price Prospects \| Feed & Grain](https://feedsoft.ai/events/42327-black-sea-shutdown-increases-corn-wheat-price-prospects-feed-and-grain.md) | +5.4% | +6.9% |
| CORN | 2026-07-16 | [Russia and Ukraine strike vessels in Black Sea, wheat prices jump](https://feedsoft.ai/events/7279-russia-and-ukraine-strike-vessels-in-black-sea-wheat-prices-jump.md) | +3.1% | +0.6% |
| SOY | 2025-12-02 | [Market Snapshot \| Black Sea tensions spur rally in grains - Pro Farmer](https://feedsoft.ai/events/11262-market-snapshot-black-sea-tensions-spur-rally-in-grains-pro-farmer.md) | -3.0% | -7.2% |
| SOY | 2023-07-20 | [Palm oil futures hit four-month high as Black Sea tensions escalate](https://feedsoft.ai/events/11938-palm-oil-futures-hit-four-month-high-as-black-sea-tensions-escalate.md) | +3.7% | -10.5% |
| SOY | 2023-07-17 | [Black Sea grain deal expires after Russia quits \| Reuters](https://feedsoft.ai/events/7057-black-sea-grain-deal-expires-after-russia-quits-reuters.md) | +0.4% | -6.3% |

## Sources

- feedstuffs.com: https://www.feedstuffs.com/market-news/black-sea-tensions-keep-grain-prices-afloat

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Data from Feedsoft AI (https://feedsoft.ai/). For information only; not investment advice.