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Wheat prices recovered after a drone strike on Russia's Baltic port of Ust-Luga, which handled 684,000 tonnes of grain last month, and after Abu Dhabi talks closed without a breakthrough beyond a prisoner exchange. Algeria bought about 700,000 tonnes of wheat, likely sourced from Argentina and the EU.
Risk premium is returning as Russian export logistics come under attack and a Black Sea deal looks unlikely, supporting wheat and corn prices. Algerian demand adds to the support.
crmagri.comMike VerdinNov 11, 2026After 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.
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.
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.
