Wheat Rises After Russian Attack on Ukrainian Port on Danube

Escalation compounds trade disruptions, caps global supplies
Wheat still down on the year on Northern Hemisphere harvests

Damaged grain stores following a Russian attack in Odesa region, Ukraine, on Aug. 16.Source: Ukraine’s South Command

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By Keira Wright, Megan Durisin Albery, Irina Vilcu, and Tarso Veloso

August 16, 2023 at 4:01 AM UTC

Updated on

August 16, 2023 at 4:03 PM UTC

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Wheat prices in Chicago rose on Wednesday after Russian drones reportedly hit a key Danube River grain port, in the latest attack aimed at Ukraine’s crop-export infrastructure.

The weapons struck the Ukrainian port of Reni on the Danube overnight and damaged a silo, Romanian media reported Wednesday, citing footage from people living close to the border only a few hundred meters away. That sent wheat prices as high as $6.31 a bushel, before paring gains.