Wheat and corn prices surged after Russia attacked one of Ukraine¡¯s biggest Danube river ports, ramping up the risks facing Kyiv¡¯s last major grain export route and global food trade.
A drone attack on Monday hit the Danube port of Reni, according to people familiar with the matter, who asked not to be named discussing sensitive information. Ukraine¡¯s southern operational military command earlier said on Facebook that a grain hangar at a Danube port had been ruined, without specifying which one or giving details.
Wheat futures for September delivery settled up 8.6% in Chicago on Monday, by the daily exchange price limit, at $7.5750 per bushel. Corn contracts for December closed up 6% at $5.6825 per bushel, the highest level in nearly a month.
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