European wheat up 4% amid Russia tensions

Wheat prices in Europe have increased by 4%, reaching their highest levels in a month, following reports that Russia intends to intensify its attacks on Ukraine. This has raised concerns about the impact of the war on grain trade in the Black Sea region. The December wheat futures contract jumped to €246.25 per ton, the highest since July 24, and wheat prices on the Chicago Exchange also rose by about 6%. The increase comes amid reports that Russia is considering escalating its missile strikes on Kyiv and Ukraine's infrastructure, following failed attempts at peace negotiations.

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