Wheat Jumps as Black Sea Supply Risks Mount

AI Summary

Wheat prices surged over 3% to above $6.50 per bushel amid increased risks of supply disruptions in the Black Sea region. Reports of Ukrainian drone attacks halting operations at a key grain terminal in Novorossiysk intensified fears of reduced grain exports.

Wheat prices surged more than 3% to above $6.50 per bushel on Wednesday, moving closer to the two-year high of $7.08 reached on July 22, as concerns over Black Sea supply disruptions intensified. Prices jumped after reports that major Ukrainian drone attacks had halted operations at a grain terminal in Novorossiysk, Russia’s leading Black Sea ...