U.S. Wheat Futures Soar Amid Russia Black Sea Conflict

U.S. wheat futures saw double-digit gains on Friday as Russia's attacks on foreign vessels in the Black Sea continued, making prices volatile.

The U.S. Department of Agriculture will release its August supply/demand estimates on August 12, with analysts expecting wheat production to be estimated at 1.525 billion bushels, down 11 million from July.

France's ag ministry projected the country's soft wheat crop to total 31.9 million tonnes, down 100,000 from the July estimate.