World governments are facing a resurgence of rising wheat supply costs after prices hit a five-month high after Russia suspended its participation in the Black Sea grain transport agreement. Traders are worried about shrinking supplies after the collapse of the Black Sea grain deal and a series of attacks on Ukrainian port infrastructure.
Wheat futures jumped 2.6 percent on the Chicago Stock Exchange to $7.77 a bushel, the highest level since Feb. 21.
Futures also jumped, approaching the highest price of trading on the exchange. Maize contracts for December delivery advanced about 0.7 percent.
Source (Al-Arab Newspaper of London, Edited)
