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Russia is testing wheat exports via the Arctic port of Murmansk, with a 29,500-tonne trial shipment to North Africa. Drone attacks have cut Russian seaborne exports and more than doubled some freight rates since mid-July, while Ukraine's alternative routes cover about half of normal export capacity.
Higher-cost logistics raise the landed cost of Black Sea wheat, though international benchmarks remain stable to slightly weaker because exporters are discounting to keep flows moving.
commodity-board.comNov 2, 2026After 283 past bullish logistics events, WHEAT moved a median -0.2% over 5 sessions (46% higher; middle half -1.4% to +1.3%), and -0.1% 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.
