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Russia's seaborne grain exports fell 55.8% year on year in October to 2.8 million tonnes, and total seaborne exports in the season reached 9 million tonnes, down 53.8%. Baltic and Arctic terminals rose sharply but could not offset the loss of Black Sea ports, and Montenegrin port shipments fell 94%.
Higher logistics costs and lost port capacity reduce Russia's effective export availability, which supports world wheat prices. Exporters are rerouting grain at a higher cost, which narrows the discount Russian wheat can offer.
onflot.ruNov 14, 2026After 292 past bullish logistics events, Wheat (SRW) moved a median -0.1% over 5 sessions (48% higher; middle half -1.3% to +1.3%), and -0.1% over 20.
Moves of each commodity's benchmark from the last close before the event. Historical reads pool past events of the same kind; they describe what happened, not what will. Not investment advice.
