Following a russian attack on Ukrainian ports, global wheat prices rose by 4% – Trading Economics
Wheat futures have exceeded the $6.8 per bushel mark
Wheat futures have exceeded the $6.8 per bushel mark, bouncing back from a recent two-week low of $6.43 on 1 August, prompted by fresh concerns over supplies due to attacks on Ukrainian ports.
This was reported by Trading Economics.
russian drones attacked ports and grain storage facilities in the southern region of coastal Odessa, as a result of which some of them caught fire.
These attacks have intensified geopolitical tension, especially after the cessation of the grain deal, which allowed Ukrainian maritime exports amid escalating attacks on ports.
"Elsewhere, the USDA's weekly crop report on Monday indicated that the US winter wheat harvest is nearing its latter stages, which provided much-needed milling wheat to the market and offered some relief amidst the global supply concerns," analysts say.
Background. Mind previously reported that russia attacked Danube ports in the Odessa region.
If you have read this article to the end, we hope that means it was useful for you.
We work to ensure that our journalistic and analytical work is of high quality, and we strive to perform it as competently as possible. This also requires financial independence. Support us for only UAH 196 per month.
Become a Mind subscriber for just USD 5 per month and support the development of independent business journalism!
You can unsubscribe at any time in your LIQPAY account or by sending us an email: [email protected]
