Russia Closes Kerch Strait Grain Corridor, Wheat Futures Rise 3.4% on Supply Concerns

According to StoneX analyst Arlan Suderman, Russia closed the Kerch Strait grain corridor on July 11, creating a premium in the wheat market ahead of the weekend amid escalating Ukraine-Russia tensions. The closure followed Ukraine's intensified strikes on Russian energy infrastructure, raising trader concerns about disruptions to critical export logistics and wheat supplies. Wheat futures climbed 3.4% on the supply concerns.
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