Commodities
Black Sea Disruptions Send US Wheat Futures Soaring
Disruptions to shipping in the Black Sea have driven US wheat futures to their highest level in over a week, sparking concerns about supply shortages from the region.
Turkiye temporarily halted Black Sea transits for its vessels due to heightened security risks related to the Russia-Ukraine war.
The country's foreign minister, Hakan Fidan, called for a 'moratorium' on attacks in the area.
Ukraine announced last Friday that its exports of agricultural products could fall by more than half in the 2026-2027 marketing year due to Russian attacks.
Most-active wheat futures in Chicago rose as much as 1.8% to their highest level since July 30, boosting the rest of the grains complex.