Black Sea Tensions Spark Wheat Price Surge

Wheat futures rose over 1% to around $6.70 per bushel in late July, rebounding from sharp losses on July 27.

The increase came as concerns about Black Sea grain shipments worsened, with escalating risks leading to fears of tightening global supplies.

Russian grain terminals reportedly limited truck deliveries due to heightened security risks and logistical disruptions linked to recent attacks in the Sea of Azov.

A missile strike hit the Russian port city of Taganrog, a key grain-export hub on the Sea of Azov, further raising fears of supply disruptions.