Wheat Gains More Than 3% After Drone Attacks in Black Sea

Wheat climbed more than 3% after Ukraine attacked another Russian vessel over the weekend, putting at risk exports from the Black Sea.

(Bloomberg) — Wheat climbed more than 3% after Ukraine attacked another Russian vessel over the weekend, putting at risk exports from the Black Sea.

Futures in Chicago advanced as much as 3.4% in early Asian trading before paring some of the gain. Rising hostilities could threaten Russia’s commodity flows via the Black Sea, a route that accounts for most of the nation’s grain and 15% to 20% of the oil the OPEC+ producer sells daily on global markets.

More stories like this are available on bloomberg.com