16:52 - 29.07.2026

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July 29, Fineko/abc.az. Wheat futures have been increasing for a second consecutive trading session amid intensifying attacks between Russia and Ukraine, which poses risks to export prospects of the two world's largest grain suppliers, Bloomberg reports.

The situation is increasingly affecting shipping in the Black Sea. SovEcon has reduced its forecast for Russian wheat exports in the current season by about 4% due to navigation restrictions in the Sea of Azov. At the same time, the Ukrainian agricultural sector is warning of potential serious consequences for exports due to attacks on ships, ports, and other infrastructure.

Russia and Ukraine account for more than a quarter of global wheat exports. Analysts expect that export disruptions between July and September could reduce supplies from the region by several million tons, which could push prices higher and force importers to look for alternative suppliers.

On Wednesday, the most active wheat contract in Chicago grew by 1.5%. Over the past month, prices approached a 14% increase, the highest since the start of the Russia-Ukraine conflict in 2022.