Wheat rises in price amid new Russian shelling of Ukraine's port
Shelling of a port in the Odesa region caused a rise in wheat prices (GettyImages)
World markets see sharp increase in wheat and corn prices following Russian drone strike on port facilities in the Odesa region, Bloomberg reported.
Chicago wheat futures went up by 4.9% to $6.84 per bushel, while corn prices rose by 3.2%.
According to Oleh Kiper, the head of the region, Russian forces conducted drone strikes on the southern part of the Odesa region, resulting in the ignition of certain port and industrial infrastructure objects.
Romanian media reported that the strike hit Izmail in the Odesa region, one of Ukraine's major river ports located on the Danube River, near the border with Romania.
In the past, Russia has targeted ports in the Odesa region and on the Danube River in an attempt to disrupt Ukrainian exports. Last week, the attack on the Danube port of Reni caused a sharp increase in wheat prices.
Ukraine is exploring alternative grain export routes after Moscow's withdrawal from the grain deal on July 17 - an agreement that ensured safe passage through the Black Sea. Romania plans to expand one of the key transit routes for Ukrainian grain.
Nighttime drone attack
Russian forces carried out another attack on Ukraine during the night of August 2, using Iranian kamikaze drones.
Russians launched Shahed-136 drones from the Azov Sea through the Black Sea, targeting the southern part of the Odesa region, aiming at port and industrial infrastructure objects.
For more details on the August 2 drone attack on Ukraine, read the article by RBC-Ukraine.
