Business Standard

Wheat price climbs nearly 6% after Russia withdraws from Black Sea pact

80% of Kyiv without water, residents asked to stock up

Photo: Bloomberg

Photo: Bloomberg

Chicago wheat futures jumped 6 per centand corn rose more than 2 per cent on Monday as Russia's withdrawal from a Black Sea export agreement raised concerns over global supplies.

The most active wheat contract on the Chicago Board of Trade (CBOT) was up 6.1 per cent at $8.79-1/2 a bushel at 1221 GMT, having touched $8.93 for its highest since 14 October.

Wheat futures hit a record high of $13.64 a bushel in March.

Corn rose 2.4 per cent to $6.97-1/2 a bushel

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First Published: Oct 31 2022 | 11:03 PM IST

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