It’s taken some time, but world focus shifting from the Strait of Hormuz to what may be a bigger story by the end of the year, the Black Sea area. Ukraine has quietly developed drone technology, but the result’s anything but quiet.
As many as 150 Russian-linked ships have been hit since shelling began, shutting down some key ports in the region. Russia was forecast to export over 1.7 billion bushels of wheat this year. Ukraine exporting 530 million.
Neither country will lose all those exports but lose enough to create concerns in the world market. This is the Bottom-Line report. We’re watching Chicago.
September wheat 52-week high back in mid-May was right at $7 a bushel. Kansas City September wheat 52-week high, same week in May, $7.58.
Audio Reporting by Mark Oppold for Southeast AgNet.