Black Sea Wheat Exports Plummet Amid Logistical Disruptions

The Black Sea wheat export trend is experiencing significant disruptions due to logistical challenges. In August, exports through Ukraine's Black Sea ports nearly came to a halt, with some volume redirected to Constanța. However, difficulties are emerging on this route as well, with the Sulina Canal struggling to cope with growing traffic.

In Russia, wheat exports in August are expected to remain below 1.8 MMT, compared to 4.4 MMT in August 2025. Operations at Russia's largest grain hub, the port of Novorossiysk, and shallow-water ports of the Azov Sea remain restricted.

The NCSP Grain Terminal (NKHP) in Novorossiysk may take between one and four months to resume operations, while two other terminals are out of service. This is likely to persist in September, with weak grain exports through Russian ports continuing due to the disruptions.