Global Wheat Prices Rise Amid Escalation Of Russia's War Against Ukraine

(MENAFN- UkrinForm) According to Ukrinform, this was reported by the Electronic Grain Exchange.

September futures for Chicago SRW soft red winter wheat increased by 6.6 percent to USD 268.4 per tonne, up 23 percent since the start of the season and 27 percent year‐on‐year.

In Kansas City, HRW hard red winter wheat rose by 5 percent to USD 291 per tonne, up 25 percent and 36.6 percent respectively.

Minneapolis HRS hard red spring wheat gained 4 percent to USD 265.3 per tonne, up 16.6 percent and 14.6 percent.

Read also: Moscow wants to starve the world, Latvian FM says amid Russian attacks on Ukraine's grain infrastructure

On Euronext in Paris, soft wheat prices rose by 3.7 percent to EUR 236 per tonne, equivalent to USD 275 per tonne, up 16 percent since the start of the season and 12 percent year‐on‐year.

Other grains also advanced on 26 August. December corn futures in Chicago rose by 2.5 percent to USD 211 per tonne, up 12.8 percent for the month and 19 percent year‐on‐year. November soybean futures increased by 2.3 percent to USD 465.2 per tonne, up 4.2 percent and 18 percent respectively.

Analysts warn that rising grain prices will drive up costs for meat, milk, eggs and vegetable oil, heightening the risk of a major global food crisis.

As reported, after several days of reduced intensity, heavy Russian shelling resumed on 26 August against Odesa and Ukraine's port infrastructure, along with ballistic strikes on Kyiv and other cities.

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