Russian wheat prices rise due to storms in Black Sea

Due to storms in the Black Sea and the temporary suspension of Russian wheat supplies, wheat prices began to rise, reaching $239 per ton.

"World prices for Russian wheat, which have been declining since September, have started to rise. In November, it rose by $9, to $239 per ton, due to the suspension of shipments due to storms in the Black Sea, reports of possible export restrictions and rising prices at tenders of importing countries," Kommersant reports.

The article specifies that analysts point to the possible continuation of this trend due to the difficulties with sowing winter crops in Europe and the deterioration in the forecast of wheat harvest in Australia.