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Chicago wheat futures rose as much as 1% to $5.89 a bushel after Russian attacks on Odesa port infrastructure. Prices were up nearly 3% from Monday's close.
The WFP warned that sustained attacks and blocked sea routes could damage Ukraine's agricultural output.
Threats to Ukrainian port logistics tighten expected export availability, supporting wheat prices and raising feed grain costs for buyers.
telegraph.co.ukMelissa LawfordNov 22, 2023After 361 past bullish geopolitics events, WHEAT moved a median +0.7% over 5 sessions (58% higher; middle half -1.4% to +3.7%), and +1.3% over 20.
Moves of each commodity's benchmark from the last close before the event. Historical reads pool past events of the same kind; they describe what happened, not what will. Not investment advice.
