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Russia has begun trial grain shipments through the Arctic port of Murmansk, with a bulk carrier loading about 29,500 tonnes of wheat for North African customers from October 28. Russian wheat exports in July to September fell 38% year on year, and Black Sea freight rates have more than doubled since mid-July.
Higher freight and rerouting costs reduce Russian wheat competitiveness and push importers toward other origins, supporting wheat prices. The lower export volumes are a supply-side tightening for global wheat.
vietnam.vnCông LuậnNov 2, 2026After 283 past bullish logistics events, Wheat (SRW) moved a median -0.2% over 5 sessions (46% higher; middle half -1.4% to +1.3%), and -0.1% over 20.
After 22 past bullish logistics events, Wheat (HRW) moved a median -1.2% over 5 sessions (45% higher; middle half -2.5% to +1.7%), and +3.9% over 20.
Not enough comparable past events yet for a historical read.
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.
