Wheat has risen for the fifth consecutive day as the situation in the Black Sea disrupts supply.

The ongoing tense situation has continuously disrupted grain shipments from the core production area of the Black Sea, leading Chicago wheat to rise for the fifth consecutive trading day, marking the longest streak of increases since mid-April. Russian attacks on the port of Odessa have resulted in a reduction of export volume, and Ukraine's grain exports are expected to decline significantly. The country's Ministry of Agriculture has drastically cut its export forecast for the 2026-2027 agricultural year from 64.4 million tons to 29.6 million tons; among these, wheat exports are expected to drop by 53% from previous estimates, down to 8.3 million tons. Meanwhile, the water level of the Danube River has fallen to a historical low, restricting the alternative grain transport route to Romania, further complicating grain exports from the Black Sea and leading to downward adjustments in export expectations. The most actively traded Chicago wheat futures rose by 0.6%, continuing the upward trend driven by supply tightness.