The events took place in the Rostov region, which is a major region for grain production in Russia.
Wheat prices on Monday, June 26, updated the maximum since the end of February due to events in Russia and drought in the United States. This is reported by Trading Economics.
Chicago wheat futures rose about 2% to trade near $7.52 a bushel.
The increase in wheat prices was provoked by the events in the Russian Federation with the participation of PMC Wagner, which was qualified by law enforcement agencies as an attempt at a military coup. They were deployed in the Rostov region, which is a major grain-producing region in Russia.
Also, the attention of market participants is directed to the dry weather in the US Midwest, which increases the risks for the wheat harvest in the region.
Recall that earlier the United States has improved the forecast for the harvest and export of Ukrainian wheat.
Source: korrespondent
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