Wheat rebounds above $6.75 as traders assess Black Sea shipping risks
Updated
Summary
Wheat rose above $6.75 per bushel, rebounding from an over two-month low of $6.69 on October 13 as traders assessed escalating security risks around Black Sea shipping.
Why it matters
Russian drones reportedly struck two chemical tankers in Romanian territorial waters, intensifying concerns about further disruption to a key grain-export corridor.
Increased Russian wheat shipments through alternative Baltic routes have helped ease some supply concerns.