Wheat Prices Surge as Russia Continues Ukraine War Efforts

Wheat prices surged in Chicago after Russia's continued commitment to the war in Ukraine sparked concerns about prolonged disruptions to grain shipments from the Black Sea.

Futures jumped as much as 3.1% on Tuesday, marking the biggest increase since August 28, following the Labor Day holiday.

Market expectations for a breakthrough in peace talks between US envoys and President Vladimir Putin were dashed after the weekend meetings ended without progress.

Russia remains determined to seize control of Ukraine's eastern Donetsk region, with Putin reportedly believing his army can achieve this goal within six months.