Wheat futures rose for a third session after Russia threatened to escalate
operations in Ukraine, raising concern about further disruption to Black Sea
grain shipments. Chicago most‑active wheat futures jumped as much as 1% on
Monday before trimming gains; the contract is on its longest winning streak in a
month. Russia said it will intensify strikes on Ukrainian infrastructure. Black
Sea wheat supplies have been heavily constrained since July; further escalation
could undermine Turkey’s efforts to protect shipments. CRM AgriCommodities said
Turkey-led mediation could eventually restore flows but may take months;
progress would remove the risk premium, while continued supply disruption would
keep supporting prices.
