Wheat Prices Surge Over 3% on Chicago Mercantile Exchange After Grain Deal Termination

The price of September wheat futures on the Chicago Mercantile Exchange has risen by more than 3% during trading. This is reported by TASS, which cites trading data.

This increase follows Russia's announcement of its refusal to extend the "grain deal." According to exchange data, as of 13:01 Yerevan time, wheat prices increased by 3.02%, reaching $6.82 per bushel (35.2 liters). By 13:14 Yerevan time, wheat futures had risen by 3.37%, reaching $6.84 per bushel.

At the same time, the price of corn futures for December 2023 delivery rose by 2.31%, reaching $5.26 per bushel.

As previously reported, Dmitry Peskov, spokesperson for the President of Russia, stated that Moscow has abandoned the deal because the terms concerning Russia's interests in the Black Sea arrangements were not being fulfilled.