Grains: Wheat rises around 3% after Ukraine attacks Russian key export port

Novorossiysk Commercial Sea Port PAO

12/08/2026 10:58

Recasts with  wheat rising after attack on Russian export port, changes dateline
Wheat rises after Ukraine attacks major Russian grain export port
Fears Russian wheat shipments could be disrupted
Soybeans, corn firm ahead of USDA monthly supply-demand report
By Michael Hogan
HAMBURG, Aug 12 (Reuters) - Chicago wheat futures rose around 3% on Wednesday after Ukraine attacked grain terminals in the major Russian wheat export port of Novorossiysk, raising fears of disruption of supplies to world markets.
Soybeans and corn rose ahead of a U.S. Agriculture world supply/demand report later on Wednesday.
Chicago Board of Trade most active wheat Wv1 rose 3.05% to $6.49-1/2 a bushel at 0929 GMT. Soybeans Sv1 rose 0.3% to $11.73-1/4 a bushel, corn Cv1 rose 0.7% to $4.63-3/4 a bushel.
Two of Russia's biggest grain terminals at the Black Sea port of Novorossiysk suspended operations following the overnight Ukrainian drone strikes, industry sources told Reuters on Wednesday. 
Russia is the world's largest wheat exporter, and most of those exports are shipped via Black Sea ports including Novorossiysk. Ukraine has generally left the huge grain export terminals in Novorossiysk alone during its war with Russia, but both sides have intensified attacks in past weeks on ports and shipping, effectively stopping Ukraine’s high-volume shipborne grain exports.
“Big grain export terminals are easy to hit, and the fear is that Ukrainian attacks on Novorossiysk could seriously reduce Russia’s wheat export shipments, which could transfer demand to other world origins,” one European trader said. “The big question is how long Ukrainian attacks persist as cargo vessel owners could stop sailings if they fear their ships are not safe in a war zone.”
Another trader added: “The world market has become reliant on cheap wheat from Russia and Ukraine, with high-volume shipments moving out despite the war. Now fears are being raised about whether Russian wheat exports will be reduced by the war.”
Grain markets are turning attention to the U.S. Department of Agriculture's August supply-and-demand report, which will include highly anticipated estimates of this year's U.S. corn and soybean harvests.

(Reporting by Michael Hogan in Hamburg, additional reporting by Naveen Thukral in Singapore; Editing by Subhranshu Sahu,  Sonia Cheema and Harikrishnan Nair)
((michael.j.hogan@thomsonreuters.com; +49 172 671 36 54; Reuters Messaging: michael.hogan.thomsonreuters.com@reuters.net))