December futures rose by 2.2% immediately after the announcement of the Russian attack on a ship with Ukrainian grain in the Black Sea.
Points of attention
- World wheat prices rose sharply due to Russia's attack on a ship with Ukrainian grain.
- The attack on the ship sent December wheat futures to their highest since July 2024.
- The crop failure in supplier countries and the importance of Ukrainian grain for the international market also influenced the rise in prices.
World wheat prices jumped after the Russian attack on a grain truck
Grain is now at its highest price since July 2024. World prices rose due to crop failures in wheat supplying countries.
News of an attack on a grain carrier in the Black Sea sent prices soaring. December futures became more expensive by 2.2%.
On the Chicago Stock Exchange, futures rose to $5.9175 per bushel. This was the highest indicator in the last two months.
Russia's attack on a grain tanker in the Black Sea
The Navy of the Ukrainian Armed Forces disclosed the details of the attack on a ship carrying Ukrainian grain. The event happened on the night of September 11, 2024.
The Russians fired X-22 missiles at a civilian ship sailing under the flag of St. Kitts and Nevis. The grain tanker left Ukrainian territorial waters at the time of the attack.
The civilian ship was seriously damaged, but nothing more is known about its condition. There were no casualties.
It is known that this grain truck was carrying wheat to Egypt.
The President of Ukraine Volodymyr Zelenskyy reacted to the event. He called on the international community to respond to the attack on the grain truck.
The head of state emphasized that "wheat and food security should not be a target for missiles."
Zelenskyy reminded that the supply of Ukrainian grain to Africa and the Middle East is critically important.
