Wheat prices hit weekly high

Wheat prices have risen to their highest levels in over a week, due to disruptions in the Black Sea region's supplies after Turkey temporarily suspended vessel passages as a result of escalating security risks related to the Russian-Ukrainian war. This increase coincides with a UN Food and Agriculture Organization report indicating that the global food price index in July 2026 reached its highest level in over three years, driven by rising prices of cereals, sugar, and vegetable oils, amid adverse weather conditions affecting key production areas and growing concerns over grain export corridors.

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