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“Media outlets in Russia are reporting that despite Ukraine launching drone attacks against it, the Novorossiysk grain terminal in the Sea of Azov and Black Sea region is still operating normally. Reportedly, there was no damage done to the infrastructure, and were no casualties,” Doherty said. “According to IKAR, Russia’s wheat exports will reach a maximum of 2.5 mmt in June. This would be down from the 3.4 mmt shipped in May. Additionally, they report that Russia’s wheat export values declined $3 last week to $242/mt.”
