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.