Wheat climbs 4% in Europe amid Russian tensions

Wheat futures prices in Europe rose by four percent, reaching their highest level in a month, following reports indicating Russia's plans to intensify its attacks on Ukraine. This has heightened concerns about the impact of the war on grain trade in the Black Sea. The December-delivery wheat contract on Euronext traded at 246.25 euros per ton, a level not seen since July 24, and prices also increased by about six percent on the Chicago Board of Trade, as Russia appears to be escalating strikes on Kyiv and Ukrainian infrastructure amid stalled peace negotiations.

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