At the opening of trading on the Chicago Mercantile Exchange, world wheat prices jumped by almost 5 percent, trading data show. The trigger for the rise in prices was the fact that Russia announced it was suspending the grain deal, news.am informs.
World wheat prices up
STEPANAKERT, OCTOBER 31, ARTSAKHPRESS: On Monday morning, Oct. 31, December wheat futures rose 4.71 percent to $8.76 a bushel.
The grain deal was signed on July 22 in Istanbul by Russia, Ukraine, Turkey, and the United Nations.
The agreement calls for Ukrainian grain, food, and fertilizers to be exported via the Black Sea from three ports, including Odesa.
On 29 October, the Russian Defense Ministry announced the suspension of the grain deal. The ministry cited an attack by Ukrainian Armed Forces drones in Sevastopol on ships of the Black Sea Fleet as the reason. The military office insists that the UK was involved in the incident.
