Commodities
Wheat Prices Soar as Black Sea Export Disruptions Persist
Disruptions to Black Sea grain exports have pushed US wheat prices higher. On Wednesday, the most active wheat contract on the Chicago Board of Trade (CBOT) rose by 0.3% to $6.64-1/2 a bushel at 1143 GMT.
The concerns over Black Sea exports were reinforced after three major Russian grain terminals restricted truck deliveries, citing heightened shipping risks following recent attacks and changes to grain flows after restrictions in the Sea of Azov.
A missile strike also hit the Russian port city of Taganrog, a grain-export hub on the Sea of Azov, underscoring the security risks facing the region's supply chains.