Global Wheat Prices Soar Amid War Fears
The global wheat market has been shaken up by rising prices amid concerns about the ongoing Russia-Ukraine war and potential disruptions to Black Sea supplies.
Wheat futures on the Chicago exchange have surged, with prices increasing by 6.4 percent on Wednesday, according to Bloomberg.
This marks a significant jump, with wheat prices reaching an 18 percent rise in August alone.
As a result, wheat prices have hit their highest level in three years.