Bloomberg’s Omar Tamo, Mohammed Hatem, and Alex Longley reported Monday that “the crew of a commercial ship in the Red Sea abandoned the vessel following a Houthi attack — the…
Reuters writers Olena Harmash and Tom Balmforth reported on Monday that, “Russia destroyed Ukrainian grain warehouses on the Danube River and wounded seven people in a drone attack on Monday, expanding the target area of an air campaign it launched last week after pulling out of the Black Sea grain deal, Kyiv said.
Also Monday, Reuters writers Michael Hogan and Sybille de La Hamaide reported that, “Global wheat and corn futures rose sharply on Monday on concern that Russia’s attacks on Ukrainian port infrastructure and intensified fighting including drone attacks on Moscow could threaten Black Sea grain exports and shipping.
“Concern about dryness in U.S. grain belts stressing crops also supported futures on U.S. markets.”
The Russian military could attack civilian shipping in the Black Sea as part of its effort to target Ukrainian grain facilities.— Bloomberg TV (@BloombergTV) July 21, 2023
Here's how the grown tension is affecting the agricultural supply chain https://t.co/TqrrlFGYJp pic.twitter.com/UVyEYjV90Y
And Reuters writer Naveen Thukral reported Monday that, “Chicago wheat and corn futures rose on Monday, as Russia’s attacks on Ukrainian port infrastructure and slowing flow of shipments from the Black Sea region heightened concerns over supply disruptions.
“Soybeans rose for the first time in three sessions.
“‘Cargo movement in the Black Sea region is getting restricted,’ said one Singapore-based trader. ‘Buyers are worried about supplies.'”
Bloomberg writers Aine Quinn, and Kateryna Choursina reported on Monday that, “Russia attacked one of Ukraine’s Danube river ports, ramping up the risks facing Kyiv’s last major grain export route and global food trade.
“The volume of crops transported along the river reached 2.2 million tons in May, an increase of almost 900,000 tons from the end of last year. Those shipments even overtook the exports via the Black Sea corridor in May due to inspections slowing down the departure of freighters,” the Bloomberg article said.