Grains Soar on US Crop Worries, Black Sea Export Disruptions

Grains such as corn and wheat have reached multi-year highs in Chicago due to concerns over US crop yields and Black Sea export disruptions.

The most active corn contract traded on the Chicago Board of Trade (CBOT) rose by 3 cents to $5.26-1/2 a bushel, its highest level since July 2023.

Wheat prices also surged, with the benchmark reaching $7.13 per bushel and exceeding a previous two-year high.

The ongoing disruption in Black Sea grain exports, particularly from Russia and Ukraine, has raised global uncertainty.

Repair works at one of Russia's main Black Sea export ports could take up to four months, further exacerbating the issue.