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Agricultural commodity prices including wheat, maize, soybeans and palm oil dropped over the weekend after surging on Feb. 24 when Russia invaded Ukraine.
Most of these commodities fell by over 5%, as no NATO decision was announced to restrict movement of grains.
Traders judged that supply fears had receded, and easing Brent crude below $100 also weighed on prices. Feed buyers should expect volatility to persist while the conflict's supply implications remain uncertain.
thehindubusinessline.comSubramani Ra MancombuFeb 27, 2022After 80 past bearish geopolitics events, Wheat (SRW) moved a median -0.4% over 5 sessions (44% higher; middle half -1.4% to +1.9%), and -0.5% over 20.
After 87 past bearish geopolitics events, Corn moved a median +0.1% over 5 sessions (51% higher; middle half -1.5% to +2.1%), and +0.3% over 20.
After 53 past bearish geopolitics events, Soybeans moved a median -0.3% over 5 sessions (47% higher; middle half -1.9% to +1.2%), and +1.0% over 20.
After 12 past bearish geopolitics events, Palm Oil moved a median -4.5% over 5 sessions (17% higher; middle half -5.9% to -2.3%), and -6.2% 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.
