Wheat Rallies on Ukraine Drone Attack, Falls Short
Global wheat markets saw an uptick on Thursday, July 30, 2026, with September CBOT wheat closing up 2¾¢ at $6.63½ per bushel. This followed a Ukraine drone attack that inflicted significant damage on a major grain export terminal in the Kerch Strait. The terminal has a capacity of 5 million metric tons and is controlled by one of Russia's largest ag firms.
The attack, combined with tensions in the Black Sea region, drove early strength in wheat prices. However, prices retreated from their highs late in the session due to profit-taking and weakness in the corn and soybean markets.
Australia-based Stewart-Peterson Inc.'s Grain Market Insider newsletter noted that 'all three wheat classes posted gains today but finished well off their session highs.'