Wheat Hits Two-Month High After Ukraine Says Russia Strikes Ship

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Wheat futures jumped as much as 2.2% after Ukraine said Russia hit a grain ship with a missile.

President Volodymyr Zelenskiy said on Telegram a ship carrying wheat to Egypt was struck as soon as it left Ukrainian waters. Grain prices climbed to session highs as trading resumed after a morning break in Chicago, with gains coming ahead of the US Department of Agriculture’s monthly supply and demand report due midday.