Wheat prices jumped after Russia attacked the sea port of Odesa with cruise missiles at the weekend, just hours after signing a deal to unblock grain exports from Ukraine. Moneyweb Wheat Russia
Wheat prices jumped after Russia attacked the sea port of Odesa with cruise missiles at the weekend, just hours after signing a deal to unblock grain exports from Ukraine, a move that was hailed as a vital step toward alleviating the global food crisis. Futures in Chicago surged as much as 4.6%, before paring gains to trade 3% higher at $7.82 a bushel by 11:20 a.m. in Singapore.
There were nine ships at Odesa sea port, including four loaded with corn worth $45.6 million, a person familiar with the matter told Bloomberg News. The grain ships were under the flags of Malta, Liberia, Sierra Leone and Panama, said the person, who asked not to be identified discussing private information.
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