Russia's Black Sea Shipping Restrictions Hit Grain Shipments Amid Drone Strikes

Shipping from Russia's shallow-water ports on the Black Sea has been restricted since July 10 due to drone strikes in the wider area. Market sources told Reuters that the shipping restrictions are for safety reasons.

The restriction is affecting grain shipments, which were already under pressure due to a decline in global demand and an increase in production costs. Producers in Western Canada are encouraging others to check with several grain companies for basis levels in their area before making any decisions.

According to PDQ, owned by the Alberta Wheat Commission, average grain prices at various areas in Western Canada as of July 28 were:

The Manitoba Co-operator reported that shipping restrictions from Russia's shallow-water ports on the Black Sea have remained restricted for safety reasons since July 10 amid drone strikes in the wider area. PDQ, owned by the Alberta Wheat Commission, provides information services, cash grain market prices and related statistical data.