# Wheat prices surge as Kremlin drone attack stokes Black Sea tensions

> Wheat prices rose sharply after Moscow said it downed two drones that attacked the Kremlin, which Ukraine denied organizing. The incident came as the Black Sea shipping corridor faced a possible expiry on May 18. Wheat had just seen its biggest jump in six months after funds built a large net-short position.

- Date: 2023-05-05 · published 2023-05-05T12:00:00.000Z
- Category: geopolitics · region Black Sea · magnitude medium
- Page: https://feedsoft.ai/events/7380-wheat-prices-surge-as-kremlin-drone-attack-stokes-black-sea-tensions
- Commodities: [Wheat (SRW)](https://feedsoft.ai/c/WHEAT.md)

## Why it matters

Renewed fears about the Black Sea corridor threaten Ukrainian wheat exports, and the short-covering rally reflects that risk. Prices could stay firm if the corridor's future remains unresolved.

## Read by commodity

- WHEAT: bullish ▲

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| WHEAT | 2023-05-05 | [Black Sea tensions keep grain prices afloat](https://feedsoft.ai/events/7385-black-sea-tensions-keep-grain-prices-afloat.md) | -1.9% | -5.2% |
| WHEAT | 2026-10-28 | [Wheat Prices Surge: Black Sea Conflict and Production Data (2026)](https://feedsoft.ai/events/447-wheat-prices-surge-black-sea-conflict-and-production-data-2026.md) | +0.2% | — |
| WHEAT | 2026-08-31 | [Wheat: Black Sea risks are driving up wheat prices](https://feedsoft.ai/events/17937-wheat-black-sea-risks-are-driving-up-wheat-prices.md) | +2.2% | +6.1% |
| WHEAT | 2023-07-20 | [Wheat prices soar as Russia-Ukraine tensions stoke food crisis fears](https://feedsoft.ai/events/35082-wheat-prices-soar-as-russia-ukraine-tensions-stoke-food-crisis-fears.md) | -0.7% | -1.3% |
| WHEAT | 2024-05-21 | [Wheat prices soar as Black Sea crop causes concern \| Dry Bulk](https://feedsoft.ai/events/4594-wheat-prices-soar-as-black-sea-crop-causes-concern-dry-bulk.md) | -7.2% | -10.5% |

## Sources

- ukragroconsult.com: https://ukragroconsult.com/en/news/wheat-prices-surge-as-kremlin-drone-attack-stokes-black-sea-tensions/

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