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Commodities

CBOT Wheat Futures Surge Amid Black Sea Port Disruptions

Guavy AI Editorial Team
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Wheat
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Wheat futures at the Chicago Board of Trade (CBOT) rose on Wednesday due to concerns about grain loading operations at Russian and Ukrainian Black Sea ports.

The ports have nearly stopped functioning following recent attacks between the two nations, which has led to higher prices for wheat.

The CBOT December wheat contract reached $7.19-1/4, marking its highest level in a month and since May 2024.

Repair works at one of the terminals in Russia's main Black Sea export port could take up to four months to complete.

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