(Dec 23): Wheat prices hovered near a one-week high as fresh tensions between Russia and Ukraine raised the risk of supply disruptions from the Black Sea region. A Russian drone strike late on Monday damaged port facilities and a civilian vessel in Odesa, Ukraine’s regional governor Oleh Kiper said on Telegram. Wheat futures in Chicago remained largely steady after surging as much as 1.7% a day earlier. Russia, the top exporter of wheat and a major producer of the grain, may see lower output next year, adding to the support for prices. In other parts of the world, US has launched a naval blockade to prevent sanctioned oil tankers from entering or leaving Venezuela, ratcheting up geopolitical tensions.

Source: The Edge Markets December 23, 2025 06:47 UTC