Wheat price climbs nearly 6 pct after Russia withdraws from Black Sea pact

Chicago wheat futures jumped almost 6 percent on Monday and corn rose more than 2 percent as Russia’s withdrawal from a Black Sea export agreement raised concerns over global supplies.

The most active wheat contract on the Chicago Board of Trade (CBOT) was up 5.7 percent at $8.77-3/4 a bushel at 0816 GMT, after reaching $8.93 earlier in the day for its highest since October 14.