IDAHO WHEAT COMMISSION

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Wheat futures soar as Black Sea exports face new uncertainty

Wheat futures recovered losses from Monday’s session and ended sharply higher Tuesday, with some contracts reaching two-month highs. The reversal came after news that war-pressured Russia was planning to annex occupied areas of Ukraine, which may jeopardize the United Nations agreement to allow Ukrainian grain exports through an established Black Sea humanitarian corridor. Corn and soybean futures firmed on slower-than-expected harvest progress.