The G20 meeting ends without an agreement for the Black Sea; Zelensky announces an initiative with Turkey for a grain corridor

After 361 past bullish geopolitics events, Wheat (SRW) moved a median +0.7% over 5 sessions (58% higher; middle half -1.4% to +3.7%), and +1.3% over 20.

• Aug 7, 2023End of the Black Sea Grain Initiative: Implications for sub-Saharan Africa | IFPRI+0.5%
• Aug 1, 2023Update from the Office of the UN Coordinator for the Black Sea Grain Initiative+0.4%
• Feb 27, 2023Ukraine seeks changes to the Black Sea Grain Initiative-2.4%
• Oct 30, 2022Grain market braces for price flurry as Black Sea corridor in doubt-5.6%
• Jul 27, 2023Dry Bulk Market: Russia’s Exit from the UN Black Sea Grain Initiative Will Have an Impact on Market - Nautical Voice+0.0%

After 323 past bullish geopolitics events, Corn moved a median +0.5% over 5 sessions (57% higher; middle half -1.5% to +2.9%), and +0.9% over 20.

• Aug 1, 2023Update from the Office of the UN Coordinator for the Black Sea Grain Initiative-2.3%
• Feb 27, 2023Ukraine seeks changes to the Black Sea Grain Initiative-1.3%
• Oct 30, 2022Grain market braces for price flurry as Black Sea corridor in doubt-2.2%
• Jul 27, 2023Dry Bulk Market: Russia’s Exit from the UN Black Sea Grain Initiative Will Have an Impact on Market - Nautical Voice-13.2%
• Nov 14, 2023The Black Sea Grain Initiative: What was achieved? Why was it important? | United Nations-0.7%

Not enough comparable past events yet for a historical read.