Ukraine Recap: Drone Hits Ukrainian Port, Driving Wheat Higher

Russian forces struck Ukraine’s Danube River port of Izmail in a drone attack, according to government and industry officials. Wheat and corn prices rose.

The attack damaged grain storage facilities, a fuel tank and administrative buildings in the Odesa region in southwestern Ukraine, the country’s prosecutor’s office said Wednesday. Russia has stepped up strikes on Danube ports to cripple Kyiv’s ability to export food since the Kremlin halted a deal that allowed Ukraine to use a safe corridor on the Black Sea last month.

“The world has to react,” President Volodymyr Zelenskiy said on Telegram. “When civilian ports are targets, when terrorists deliberately destroy even silos — this is a threat to everyone on all continents. Russia can be and must be stopped.”

Wheat futures in Chicago jumped 4.8% to $6.835 a bushel by 1:27 p.m. in Singapore. Corn rose 2.6%. The surge in prices ended a decline in wheat prices, which had fallen to their lowest level in two weeks as Ukraine continued to explore alternative grain export routes.

Tags: prices, wheat, порт, Odesa region, Izmail, grain storage facilities, Ukraine, Russia, corn