Wheat markets were on alert Friday as traders assessed the impact of a major drone strike on Russia’s Black Sea port of Novorossiysk, a critical transit point for grain and crude oil exports, Bloomberg reported. Local officials said a fuel depot and several coastal facilities were damaged, though it remained unclear whether grain infrastructure was directly affected. Novorossiysk is Russia’s primary outlet for wheat shipments, and any disruption could reverberate through global markets. “If the attack interrupts the flow for any significant period, the merchants are going to have to replace that grain from somewhere else, and that’s not easy to do,” said Tobin Gorey, strategist at Cornucopia Agri Analytics. Authorities reportedly declared a state of emergency following the strike. While the port’s main grain terminal was struck by debris, it continued operating, according to people familiar with the situation. Wheat prices edged higher as traders awaited further clarity.
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