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Wheat prices rose again following renewed attacks on shipping vessels in the Black Sea, raising concerns over disruptions to global supplies. The December delivery wheat contract on the Chicago Board of Trade increased by 0.42% after last week’s decline, amid expectations of improved Russian exports and abundant harvests in some countries. However, the military escalation and attacks on ships are reigniting tensions, as negotiations continue to establish a corridor for grain exports via the Black Sea, despite Russia's opposition. Shipping disruptions have led to a reduction in global wheat export forecasts to 210.1 million tons for the 2026-2027 season, although worldwide production remains nearly stable at 822.4 million tons, thanks to good yields in countries like Australia.
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