Wheat futures jump after Russia pulls out of deal allowing Ukraine to ship grain

Wheat futures jumped alongside rising prices for corn and soybeans early Monday after Russia said it was pulling out of an international agreement that had allowed Ukraine to resume Black Sea grain exports. Kremlin spokesman Dmitry Peskov on Monday said the deal had terminated but that Russia would rejoin the agreement if its demands were met, according to the Russian state news agency TASS. Moscow had repeatedly threatened to end unless the West facilitated its own exports of food and fertilizers. Soft red winter wheat for September delivery
W00,
+2.65%

WU23,
+2.65%
rose 19.5 cents, or 2.9% to $6.81 a bushel on the Chicago Board of Trade . New-crop December corn futures
C00,
+0.83%

CZ23,
+0.83%
rose 7.25 cents, or 1.4%, to $5.21 a bushel, while November soybeans
S00,
+0.88%

SX23,
+0.88%
were up 15.5 cents, or 1.1%, at $13.8625 a bushel.