Wheat Prices Reach Three-Year High as Black Sea Crisis Deepens

Wheat prices have risen to their highest level in about three years.

Wheat is used to make many foods, so this price change matters to people around the world.

Fighting around the Black Sea has made it harder for ships to carry wheat from Russia and Ukraine.

The two countries produce about one-quarter of the world’s wheat.

Experts say there is still wheat in the region, but much of it is trapped because ports and shipping routes are unsafe or unavailable.

Other routes are not large enough to replace the lost port capacity.

Prices also increased because of concerns about hot weather in Europe.

The U.S.-Iran war and El Nino-related weather risks are adding to the uncertainty.

A global grains group has lowered its forecast for wheat production in 2026-2027.