Ukraine Port Attacks Fuel Wheat Price Surge

Wheat futures experienced strong gains on Wednesday as they continued their volatile trade over the past week. The recent Russian and Ukrainian attacks on ports and vessels provided support for wheat prices.

The attack on Ukraine's Black Sea port of Chornomorsk, which handles a significant portion of Ukraine's grain exports, has raised concerns about global food supplies and contributed to the surge in wheat futures.

In other news, Algeria purchased 300,000 to 720,000 tonnes of wheat in a tender on Wednesday. The U.S. Department of Agriculture reported a private export sale of 120,000 tonnes of corn to Mexico.