The World Is In Dilemma Due To the High Costs of Wheat Supplies

  • International
  • 26 July 2023
1

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)

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