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Global Wheat Prices Soar Amid War Fears

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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.

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