Wheat and corn rose after the Russian attack on Izmail port

Wheat and corn prices jumped after Russian drones damaged a Ukrainian port on the Danube River.

Bloomberg writes about it.

“Russia attacked Izmail, people in the know said later, referring to one of Ukraine’s largest river ports for the transportation of grain, which is located on the Danube on the border with Romania,” the publication writes.

The Ukrainian Prosecutor’s Office reported that the silo, grain hangars, fuel storage at the cargo terminal and other warehouse and administrative buildings were damaged. According to them, the premises of the port administration suffered significant damage.

Wheat futures in Chicago jumped 4.9% to $6.84 a bushel before paring gains to $6.675. The price of corn rose by as much as 3.2%.

As previously reported, the night attack by Shahed-136 type drones, launched from the Sea of Azov through Chorne on August 2, was aimed at the south of the Odesa region. The Russians targeted the port and industrial infrastructure of the region.

Tags: wheat, порт, futures, Danube River, Izmail, Ukraine, Russia, corn, grain, prices