Wheat Edges Higher as Hostilities Escalate Again in Black Sea
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Futures in Chicago gained as much as 0.7% on Wednesday after losing more than 6% over the previous four sessions. A military plane destroyed four speed boats with Ukrainian soldiers in the Black Sea, Russia’s Ministry of Defense said in a Telegram post. Tass also reported a drone attack near Sevastopol.
Conflict has escalated in the Black Sea this month after Moscow pulled out of a grain deal in July that ensured the safe passage of Ukrainian grain. Benchmark wheat futures are still about 24% lower this year following bumper harvests in some parts of the Northern Hemisphere.
Source Link: https://finance.yahoo.com/news/wheat-edges-higher-hostilities-escalate-042822289.html
