Wheat prices in the Chicago futures market reached a five-month high

Wheat prices on the Chicago Mercantile Futures Market hit a five-month high, up 2% as a result of Russian attacks on Ukrainian ports and grain infrastructure, raising concerns about long-term global supplies and food security.

According to Reuters, the market has taken into account the slowdown in Ukrainian exports, and buyers are now watching further developments with Russian wheat exports.

One of the grain traders from Singapore noted: "Any restrictions on the movement of ships from Russia will have a favorable impact on prices."

The most active wheat contract on the Chicago Board of Trade increased by 2%, reaching $7.72 per bushel at 03:38 GMT, and earlier it had already reached $7.77, the highest level since February 21.

Corn prices rose by 0.1% to $5.69 per bushel, while the price of soybeans fell by 0.1% to $14.23 per bushel.

Russia attacked Ukrainian grain warehouses on the Danube on Monday, targeting a vital export route for Kyiv.

UN Secretary General Antonio Guterres demanded that Russia return to the grain deal, warning of the devastating impact on "vulnerable countries trying to feed their populations."