Wheat Prices Rise as Concerns Over Black Sea Exports Grow

The wheat complex is trading higher across most contracts on Wednesday, according to midday prices from Barchart.

Chicago SRW (SRW) contracts are up by 8 cents so far in the midweek session. KC HRW futures have gained 12 cents in the front months.

MPLS spring wheat has rebounded by 4 to 5 cents at midday, after recent concerns about exports from the Black Sea due to ongoing conflicts between Russia and Ukraine.

The conflict has led to increased attacks on vessels and ports in the region. On Wednesday, Algeria purchased an estimated 300,000 to 720,000 MT of wheat in a tender.