Russian Black Sea wheat loadings in freefall
- Russian Black Sea wheat loadings have fallen sharply as Ukraine steps up attacks on ports and merchant shipping
- Exporters are increasingly turning to Baltic terminals, but capacity is insufficient to replace Black Sea volumes
- Asian buyers have already begun sourcing Australian and Argentine wheat as uncertainty over Russian exports grows
Ukraine’s escalating attacks on Russian Black Sea ports are disrupting grain exports during the peak wheat shipping season, squeezing vessel availability, forcing exporters to seek alternative routes and prompting importers to diversify supply
