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Crude tanker spot rates, forward freight agreements, oil prices and tanker equities fell after the US midterm elections, as markets anticipated that the vote could lead to an end to the Iran war and safer Strait of Hormuz passage. Black Sea shipping activity was down 37% year on year in October as escalating attacks deterred shipowners.
Lower Black Sea shipping activity can constrain grain export flows and raise freight and insurance costs, supporting regional grain prices. The tanker-market move reflects changing expectations for oil supply risks, but the article does not establish a clear direction for feed-commodity prices.
lloydslist.comLloyd’s ListNov 9, 2026Not enough comparable past events yet for a historical read.
After 283 past bullish logistics events, Wheat (SRW) 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.
After 19 past bearish logistics events, Crude Oil (WTI) moved a median -1.5% over 5 sessions (37% higher; middle half -6.6% to +2.3%), and +5.3% 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.
