WASHINGTON, D.C. (RFD NEWS) — Escalating attacks on ports and shipping infrastructure in the Black Sea region are raising concerns about global grain supplies and could provide some support for U.S. growers.
The Black Sea is a major export route for wheat, corn and other agricultural commodities. Recent attacks, however, are disrupting exports from Russia and Ukraine.
Ukraine reports nearly 70 strikes on port facilities and dozens of attacks on ships since last month. The country now expects to export about 29.6 million metric tons of agricultural products this marketing year, which is less than half of earlier forecasts.
Tighter Black Sea supplies could support U.S. wheat prices, while adding another layer of uncertainty to global grain markets.
