Wheat quotes rose on concerns about blocking supplies from Ukraine and Russia, but prices in Ukraine fell

Russia’s threats to intensify attacks on Ukrainian ports and ships calling at them have led to a speculative increase in wheat stock market quotes and an increase in the cost of insurance for ships calling at Ukrainian ports. But all this, in turn, has caused a drop in wheat prices in Ukraine. The Ukrainian drone attacks on sanctioned tankers in the Black Sea were the first attacks on civilian vessels flying a flag other than Russia, and raised concerns about increased attacks on civilian vessels from both Russia and Ukraine in the Black Sea, as well as attacks on Ukrainian port infrastructure, which would lead to restrictions on exports from the region. On all wheat exchanges, there has been a speculative increase in December wheat futures over the past 7 days: At the same time, under the pressure of fundamental factors, production forecasts increased, quotes showed a decrease during the month. The Buenos Aires Grain Exchange has raised its forecast for Argentina’s wheat harvest ...