Russia completely pulls out from the UN/Turkey initiated Black Sea grain deal. The Russian military have targeted Ukrainian grain silos. Reports are that they, the Russian navy via missile attacks, have destroyed 60,000 tons of grain.

Russia completely pulls out from the UN/Turkey initiated Black Sea grain deal.  The Russian military have targeted Ukrainian grain silos.  Reports are that they, the Russian navy via missile attacks, have destroyed 60,000 tons of grain.

If Wheat futures break resistance of 7.65, the price may rally to its high of 8, moving closer to the support (red horizontal line) of 9.69.  Refer (Wheat futures chart above) to price notes from November 2021 highs of 8.45 and September 2022 highs of 9.28.