Russia Turns to a Disputed Region to Keep Wheat Exports Flowing
Russiaโs grain industry is looking to increasingly niche solutions for shipping wheat as attacks in the Black Sea continue to choke off exports from the worldโs biggest supplier.
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Russiaโs grain industry is looking to increasingly niche solutions for shipping wheat as attacks in the Black Sea continue to choke off exports from the worldโs biggest supplier.
Loading rates at Novorossiysk have slowed with ships moored for twice as long as normal
Wheat declined for a fourth day after US President Donald Trump said Russia and Ukraine had agreed to an immediate โenergy ceasefire,โ raising hopes that an easing of hostilities could reduce Black Sea disruptions.
The dollar jumped Wednesday as higher oil prices and heightened tensions in the Middle East prompted investors to flock to safety.
Wheat futures moved higher for a third day after Russia threatened to escalate the war in Ukraine, potentially worsening disruptions to global grain supply through the Black Sea.
"We are today looking at a situation where some of the major grain exporters will not be able to send out their shipments, particularly out to the Black Sea," S. Jaishankar said