Turkey's Black Sea Transit Halt Sends US Wheat Futures Soaring

US wheat futures surged to their highest level in over a week due to supply disruptions caused by security risks in the Black Sea region.

Turkey temporarily halted transits for its vessels in the area, citing heightened security concerns related to the Russia-Ukraine war.

The move, announced by Turkey's foreign minister Hakan Fidan, who called for a 'moratorium' on attacks in the region, has raised concerns about potential supply shortages from the crucial grain-growing area.