# Wheat Futures Rise 9% as Russia Threatens Ships Headed to Ukraine - Bloomberg

> Chicago wheat futures jumped as much as 9%, the largest rise since 2012, after Russia's defense ministry said all ships bound for Ukrainian ports from Thursday would be treated as possibly carrying military cargo. Paris wheat closed up 8.2%, its biggest gain since February 2022.

- Date: 2023-07-19 · published 2023-07-19T12:00:00.000Z
- Category: geopolitics · region Black Sea · magnitude high
- Page: https://feedsoft.ai/events/35084-wheat-futures-rise-9-as-russia-threatens-ships-headed-to-ukraine-bloomberg
- Commodities: [Ocean Grain Freight](https://feedsoft.ai/c/OCEANFRT.md), [Wheat (SRW)](https://feedsoft.ai/c/WHEAT.md), [Corn](https://feedsoft.ai/c/CORN.md), [Barley](https://feedsoft.ai/c/BARLEY.md), [Wheat (HRW)](https://feedsoft.ai/c/KWHEAT.md)

## Why it matters

The explicit threat to shipping to Ukraine removes a major grain export route and sharply lifts global wheat benchmarks. Higher wheat prices also strengthen the case for substituting cheaper feed grains.

## Read by commodity

- CORN: bullish ▲
- WHEAT: bullish ▲
- KWHEAT: bullish ▲
- OCEANFRT: bullish ▲

## Linked price moves

| Commodity | Date | Window | Change % | z-score | Why linked |
| --- | --- | --- | --- | --- | --- |
| KWHEAT | 2023-07-23 | 1 | +6.8% | 3.2 | Chicago wheat jumped as much as 9% after Russia's defense ministry said Ukraine-bound ships would be treated as possible military cargo carriers, a direct Black Sea supply and trade-flow shock close to the move window. |

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| WHEAT | 2022-02-23 | [Winter Wheat Prices Touch 9-Year High on Russia, Ukraine Fears - Bloomberg](https://feedsoft.ai/events/42748-winter-wheat-prices-touch-9-year-high-on-russia-ukraine-fears-bloomberg.md) | +6.4% | +26.3% |
| WHEAT | 2023-02-10 | [U.S. Wheat Futures Jump on Ukraine, Russia Shipment Concerns](https://feedsoft.ai/events/37376-u-s-wheat-futures-jump-on-ukraine-russia-shipment-concerns.md) | -2.5% | -9.0% |
| WHEAT | 2022-03-02 | [Wheat Futures Price Soars to 14-Year High as Russia Invasion Chokes Trade - Bloomberg](https://feedsoft.ai/events/42310-wheat-futures-price-soars-to-14-year-high-as-russia-invasion-chokes-trade.md) | +6.9% | +20.3% |
| WHEAT | 2022-07-25 | [Wheat prices rise as missile strike threatens Ukraine export pact](https://feedsoft.ai/events/40525-wheat-prices-rise-as-missile-strike-threatens-ukraine-export-pact.md) | -9.5% | -0.1% |
| WHEAT | 2023-05-03 | [GRAINS-Wheat rallies as tensions rise between Russia, Ukraine \| Kitco News](https://feedsoft.ai/events/7381-grains-wheat-rallies-as-tensions-rise-between-russia-ukraine-kitco-news.md) | -0.5% | -4.7% |
| CORN | 2022-02-23 | [Winter Wheat Prices Touch 9-Year High on Russia, Ukraine Fears - Bloomberg](https://feedsoft.ai/events/42748-winter-wheat-prices-touch-9-year-high-on-russia-ukraine-fears-bloomberg.md) | +7.5% | +12.7% |
| CORN | 2023-02-10 | [U.S. Wheat Futures Jump on Ukraine, Russia Shipment Concerns](https://feedsoft.ai/events/37376-u-s-wheat-futures-jump-on-ukraine-russia-shipment-concerns.md) | -0.6% | -6.0% |
| CORN | 2023-05-03 | [GRAINS-Wheat rallies as tensions rise between Russia, Ukraine \| Kitco News](https://feedsoft.ai/events/7381-grains-wheat-rallies-as-tensions-rise-between-russia-ukraine-kitco-news.md) | +1.5% | -6.7% |

## Sources

- bloomberg.com: https://www.bloomberg.com/news/articles/2023-07-19/wheat-rises-9-as-russia-warns-on-safety-of-ships-to-ukraine

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Data from Feedsoft AI (https://feedsoft.ai/). For information only; not investment advice.