Wheat Prices Climb As Russia Suspends Shipments

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Wheat prices in the U.S. have climbed to a two-week high after Russia announced that it was withdrawing from its July 2022 agreement to allow grain shipments from certain ports in Ukraine.  Russia said it suspended the agreement after an alleged drone attack by Ukraine against Russian ships off the coast of Crimea.  Since Ukraine is a major global supplier of wheat and corn, hundreds of thousands of tons of exports are at risk scheduled for Europe, Africa and the Middle East.