Black Sea Wheat Exports: Slowing in Ukraine, Accelerating in Romania

The Black Sea wheat export trends are varied among countries. Ukraine and Russia's exports are slowing but still above last season's levels, while Romania and Bulgaria's shipments are accelerating, although they remain below last year's pace.

A significant part of Ukraine's grain exports is being redirected to the Port of Constanța, but this route is hampered by low water levels on the Danube. Barges cannot be fully loaded, resulting in significantly increased transportation costs.

The redirection to Constanța and the subsequent logistics issues may only become economically viable if global grain prices rise substantially. Currently, this is not the case.