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Bloomberg reports that a record Ukrainian grain harvest is overwhelming the capacity of state rail monopoly Ukrzaliznytsia, which cannot keep pace with repairs to damaged rolling stock and infrastructure. Grain deliveries are being slowed in one of the world's largest grain shippers.
Rail bottlenecks delay Black Sea wheat and corn shipments to export ports, which can widen basis and tighten prompt supply for importers while supporting nearby prices in origin markets.
bloomberg.comKateryna ChursinaNov 18, 2016After 283 past bullish logistics events, WHEAT moved a median -0.2% over 5 sessions (46% higher; middle half -1.4% to +1.3%), and -0.1% over 20.
After 285 past bullish logistics events, CORN moved a median +0.1% over 5 sessions (52% higher; middle half -1.5% to +1.5%), and +0.8% 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.
