Another confirmation that the month-long pause in Ukrainian attacks on merchant vessels in the Black Sea is clearly over.

An Aframax tanker, AFRAMAX RIO (~100K mt DWT), fully loaded with oil for India, was reportedly hit near Sochi this afternoon.

#oatt #sizovreport #wheat #blacksea

Is CBOT #wheat finally starting to move?

Saudi Arabia bought 0.6+ mmt last weekend. More importantly, Black Sea exports remain heavily restricted.

In our view, things escalated substantially last week.

#oatt #sizovreport #blacksea

Algeria just paid ~$30/mt more for #wheat than in its previous tender.

OAIC bought around 500–510K mt at an estimated $319–321/mt C&F for November shipment.

In its previous tender on August 5, Algeria bought up to 720K mt at around $289–290/mt C&F.

Pakistan next?

#oatt #sizovreport

#Wheat bounced right off the 730 area yesterday — the July high and 20-day moving average — and has already made a higher high today.

Dead-cat bounce or something bigger?

Our view in the weekly market report:
sizov.report/reports/3109...

#oatt #sizovreport