As tension continued to disrupt grain exports from the core production area of the Black Sea, Chicago wheat traded higher for the fifth day in a row, the longest continuous rise since mid-April. Russia's attack on the Odesa port led to a reduction in the scale of foreign transportation, and Ukrainian grain exports are expected to drop sharply. The country's Ministry of Agriculture drastically lowered the 2026-2027 agricultural annual export forecast from 64.4 million tons to 29.6 million tons; of these, wheat export estimates fell 53% from the previous forecast to 8.3 million tons. Meanwhile, the water level in the Danube River fell to a historically low level, limiting grain transportation in the direction of Romania, Ukraine's alternative export route, further adding resistance to grain exports from the Black Sea, and export expectations were lowered accordingly. Chicago wheat futures, which are the most actively traded, rose as high as 0.6%, continuing the gains brought about by tight supply.

As tension continued to disrupt grain exports from the core production area of the Black Sea, Chicago wheat traded higher for the fifth day in a row, the longest continuous rise since mid-April. Russia's attack on the Odesa port led to a reduction in the scale of foreign transportation, and Ukrainian grain exports are expected to drop sharply. The country's Ministry of Agriculture drastically lowered the 2026-2027 agricultural annual export forecast from 64.4 million tons to 29.6 million tons; of these, wheat export estimates fell 53% from the previous forecast to 8.3 million tons. Meanwhile, the water level in the Danube River fell to a historically low level, limiting grain transportation in the direction of Romania, Ukraine's alternative export route, further adding resistance to grain exports from the Black Sea, and export expectations were lowered accordingly. Chicago wheat futures, which are the most actively traded, rose as high as 0.6%, continuing the gains brought about by tight supply.