Russia's Azov-Black Sea Security Measures Send Wheat Prices Tumbling

Russia's move to strengthen security in the Azov-Black Sea basin has led to a drop in wheat prices, which fell to $6.40 per bushel - the lowest in three weeks.

The decision follows an escalation of maritime attacks between Russia and Ukraine, disrupting grain exports from two major suppliers.

Despite efforts to reroute cargo and enhance navigational safety, industry groups warn that continued attacks on ports and vessels could severely disrupt Black Sea grain exports during the peak harvest season, threatening global food supplies.