Ukraine Hits Russia's Black Sea Port City, Grain Exports at Risk

A massive overnight drone attack by Ukraine on Russia's Black Sea port city of Novorossiysk has put two major grain terminals out of action, according to Russian industry sources. The attack also damaged four enterprises and over two dozen residential buildings.

The governor of Krasnodar region, Veniamin Kondratyev, said at least two people were killed in the attack, including an 8-year-old child. Novorossiysk mayor Andrei Kravchenko declared an emergency situation and suspended the port's water supply.

Russia is the world's largest wheat exporter, and most of its exports are shipped via its Black Sea ports like Novorossiysk. The attack has raised fears in global markets of a disruption to supplies. Chicago wheat futures rose around 3% on Wednesday following reports of the attack.