Inflation shock: Corn, Wheat and Oil futures rally between 10% and 18% as traders begin to lock in prices. Re: Northern Hemisphere heatwave and the Russian 2023 'blockade' of Black Sea/Ukrainian ports. Also, Russian missile attacks of Ukrainian grain silos.

After June 2023 lows, Corn,  Wheat and oil futures spike (Chart above).  Rallying between 10% and 18% since July 12.  This is very much a sudden price rise which could be equated to an inflation shock, since Corn and Wheat + oil are intrinsically related to food and energy commodities.  The shock will come after the heatwave effected agriculture in Europe/America through to Russia closing off the Black Sea, thus ending the grain deal with the rest of the world.

Oil:  78 

Corn: 5.61

Wheat: 7.57

All bid.

*Update*

Danube River (Ukraine) grain storage attacks by the Russian drone/s.  Close to the Romanian border:  reuters.com/world/europe/russia-attack-odesa-destroys-grains-depot-injures-four-ukraine-military-2023-07-24/