Russia Wheat Shipments Falter While Ukraine Ramps Up Exports
- Shipping lines, banks and insurers are wary of Russian grain
- Russia ships 22% less wheat this season; Ukraine ports reopen
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Russia is struggling to export its record wheat crop, just as the opening of a safe corridor supports an uptick in shipments from the country it invaded just over six months ago.
Shipments from Russia in July and August, the first two months of the new season, fell 22% to 6.3 million tons from a year earlier, according to ship lineup data from Logistic OS. Last month, Ukraine restarted shipments, exporting 1.5 million tons of food through the grain corridors established under a deal brokered by the United Nations and Turkey.