Wheat Futures Rebound Amid Black Sea Attacks

2025-12-22 11:11 By Joana Ferreira 1 min. read

Wheat futures rose to $5.15 per bushel, bouncing back from last week’s steepest decline since August and a near two-month low of $5.04 hit on December 17, as renewed attacks on Ukrainian and Russian infrastructure raised concerns over Black Sea grain exports.

Russia intensified strikes on Ukraine’s Odesa ports, including Pivdennyi, the country’s largest.

Over the weekend, a shipping terminal operated by oilseed firm Allseeds was damaged, according to a spokesperson for Vice Prime Minister Oleksiy Kuleba.

At the same time, Russia reported that a drone attack damaged infrastructure and vessels at the Black Sea port of Taman, which handles grains, fertilizers, and oil.

Gains, however, remained limited amid expectations of ample global supplies.

In its December WASDE report, the USDA projected global wheat supplies to increase by 7.5 million tons to 1,097.8 million, driven by higher production estimates for several major exporters, particularly Argentina and Australia.



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