Wheat Prices Surge as Putin Assails Ukraine Grain Deal
- Russian president says corridor isn’t helping poorer countries
- Chicago wheat futures close at highest in almost two months
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Wheat futures climbed as much as 6.9% after Russian President Vladimir Putin criticized a recent grain deal with Ukraine, heightening attention on the sales outlook from the Black Sea region.
The grain shipment corridor from Ukraine is not helping poorer countries, as the majority of supplies are going to Europe, Putin said during the Vladivostok Economic Forum. It may be worth discussing restrictions on the routes with Turkish President Recep Tayyip Erdogan, he added.