Black Sea Tensions Spark Wheat Price Spike

Escalating tensions in the Black Sea have driven wheat prices to their highest level since July 24, reaching $6.7 per bushel in mid-August.

Russia has rejected a potential ceasefire with Ukraine, saying there is no basis for 'half-measures' that would benefit its opponent.

The disruption of trade flows and heightened concerns over global grain supplies have led the US Department of Agriculture to lower its forecast for Russian and Ukrainian grain exports.