Why a Reopened Black Sea Grain Corridor Is Really an Inflation Story

After 137 past bearish logistics events, Wheat (SRW) moved a median -0.3% over 5 sessions (44% higher; middle half -2.2% to +1.0%), and +0.0% over 20.

• Oct 26, 2023Ukraine says its Black Sea grain corridor is working | Reuters+2.2%
• Nov 9, 2023Ukraine: Alternative Black Sea export corridor is working despite attack | Reuters-2.9%
• Nov 17, 2023Ukraine says 151 ships have used Black Sea corridor | Reuters+3.7%
• Dec 22, 2023Ukraine: the new Black Sea corridor is a success | OSW Centre for Eastern Studies+0.9%
• Oct 24, 2023Ukraine Exports 700,000 T Grain Via New Black Sea Corridor - Minister+1.8%

After 359 past bearish logistics events, Corn moved a median -0.3% over 5 sessions (44% higher; middle half -1.5% to +1.5%), and -0.5% over 20.

• Oct 26, 2023Ukraine says its Black Sea grain corridor is working | Reuters-3.5%
• Nov 9, 2023Ukraine: Alternative Black Sea export corridor is working despite attack | Reuters-1.5%
• Nov 17, 2023Ukraine says 151 ships have used Black Sea corridor | Reuters-1.2%
• Dec 22, 2023Ukraine: the new Black Sea corridor is a success | OSW Centre for Eastern Studies+2.4%
• Oct 24, 2023Ukraine Exports 700,000 T Grain Via New Black Sea Corridor - Minister-4.3%