Russia Restricts Grain Exports Amid Black Sea Tensions

Russia's shallow-water ports on the Black Sea have been restricted for shipping grain since July 10, due to safety concerns following drone strikes in the area. Market sources confirmed this with Reuters.

The restriction has affected grain exports from Russia, but it is not clear how long it will last or what impact it will have on global markets. The disruption comes as Western Canada's grain prices remain steady, according to recent data from PDQ, which provides information services and cash grain market prices.

In Western Canada, the average grain prices for various areas in Canadian dollars per metric tonne are: Alberta - $430, Saskatchewan - $420, Manitoba - $410, and British Columbia - $400. These prices are as of July 28, 2022.