Three of Russia¡¯s largest grain terminals in the Black Sea port of Novorossiysk have halted operations after being damaged in a massive overnight drone attack by Ukraine.
Grain shipments from Novorossiysk are currently impossible because of serious damage to terminal infrastructure, people familiar with the matter said. A loading gallery at United Grain Co.¡¯s Novorossiysk Grain Plant collapsed after the strikes and several silos were damaged, the people said, while a gallery and truck unloading facility at Demetra¡¯s terminal also were damaged. The KSK terminal was hit, said the people, who asked not to be identified discussing confidential information.
Russia and Ukraine have stepped up attacks on Black Sea commercial ships and ports, raising concerns about supply. The nations account for more than a quarter of global wheat exports, and the attacks come in the middle of this year¡¯s harvest. Wheat futures jumped as much as 4% in Chicago on Wednesday for the biggest intraday advance in three weeks.
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