Wheat prices hit 2-year high after Ukraine, Russia Black Sea attacks

Attacks on Black Sea ports by Ukraine and Russia have pushed global wheat prices to their highest level in two years. The conflict in the region, a key route for grain exports, has disrupted supply and raised fears of food shortages. Wheat futures rose sharply this week as traders reacted to the escalating violence. The Black Sea corridor handles a significant portion of the world’s wheat trade, and any disruption there directly impacts global prices. Analysts say the attacks have damaged storage facilities and slowed shipments. The price increase affects countries that rely on imports, including those in the Middle East and Africa. The situation remains tense, with no sign of a resolution. Markets are watching closely for any further escalation.